Rotten to the core
As crazy as the Southwest Florida real estate market has been of late with an ever growing number of challenges for buyers, we can't touch the Manhattan market for insanity.
Move over Samantha Jones, open houses on the Upper East side have more action in two hours than you have in an entire season. With prices only rivaled by George Steinbrenner's inflated payroll, the competition among Realtors for New York listings has become cutthroat trench warfare.
Illegal tactics which are clear violations of the National Association of Realtors Code of Ethics attempted in the New York market include advertising rival firms listings on your website as your own listing and poaching other firms active listings through the use of misinformation.
A serious challenge facing our industry is the rapid acceleration in the number of real estate professionals drawn to this hot industry. The National Association of Realtors says its membership has grown 46% since 2000 increasing from 766,560 to 1.1 million today. As the numbers increase, new agent training lags and many more agents are crossing the line to land a deal.
Realty Agents Add Elastic to Their Ethics [NY Times] registration required