Prosper, TX: Watch out for "Z" Sales inflating the sale comps in some areas
By Ronda Allen
(RE/MAX Dallas Suburbs: Prosper, Texas)
Just recently, a builder sold their model home in Lakes of La Cima and the agent's office failed to put the "Z" on this Z-sale. What is a Z-sale? For those who may not be familiar, it is the ability to put an undisclosed sale price into the MLS. The listing price and the sale price show up as the same number in the system. This does not mean this was a full-list price sale. This means the builder or seller does not want the public to know what they sold the house for. In the case of the builder's model home in Lakes of La Cima, I spoke with the builder one day when he was visiting the model. He advised me that he was willing to sell this home $45k below the list price. For agents who are not familiar with new home sales or might not be local to the area, they would not have any ...
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