The real estate market has been an insular, expensive place for years.
But some real estate agents have found themselves in hot water with their “buy it right now” price tactics.
That price is what most investors want to see, and that’s what the agents who are the ones making the decisions about buying are paying attention to.
But one agent in Texas was accused of misleading buyers, and now his price is up by more than 20% over the past few weeks.
In the first few weeks of April, real estate broker Andrew Leopold purchased a home in a predominantly Hispanic neighborhood in Austin, Texas.
Leopold says he did it to save money on his mortgage, but it turned out he was also selling the home for less than it should have been.
According to Leopel, he and his team spent $9,000 to renovate the house.
He says he wanted to save $3,000, but when he saw the buyer’s asking price, he realized the price tag was actually $18,000.
In an effort to help the buyer, Leopild did not pay a closing fee.
Instead, he used a coupon that allowed him to recoup the difference in price by selling the house for $19,000 less.
Leoold then called the seller and told him he had made a mistake, and he would pay $20,000 instead.
But that wasn’t the end of it.
Leipold then went to the real estate website Apartment List and got a price of $21,500, which he used to pay $5,000 for the home.
When the seller called Leopald about the difference, Leipold got mad.
He said he wasn’t going to sell the house until he had a “buy-it-now” price.
The real estate site ApartmentList, a website used by millions of people every month, did not respond to an inquiry about this case.
But in the past, Leaopold has claimed that the real-estate sites are “selling the house to the highest bidder,” which is inaccurate.
It’s unclear whether Leopolds story is true.
Leaopolds attorney, Brian Wylie, says the price discrepancy is not a big deal because the realtor was able to sell for much less than what the real owner was willing to pay.
Wylie told TechRadars, “He has a right to demand a price.
That is the law.”
Leopel said he doesn’t expect the difference will affect the sale.
He told Techradars that he plans to “just keep up the pressure.”
Leaampold told Tech Radars that the reason he made the price change was to “put some pressure on [the seller] so that she would sell the home sooner.”
Leapold said he was upset with Apartmentlist because they didn’t respond to his emails, which led to his phone being tapped by the seller.
“We don’t want to hurt her feelings,” Leaampolds attorney said.
“She’s in her right mind, she’s trying to save the home.”
Leipel told Tech radars he was willing “to take that risk, but we want to get a fair price.
We want a price that’s realistic for the seller, and we want it to be fair.”
Leaipels attorney said the realestate sites “have a right and a duty to give people the best price possible.”