Today we’re sharing a provocative Columbus Dispatch article that exposes real estate practices that disadvantage home buyers. We are proud to be the major contributor to this article. Buyer’s Resource Realty Services is frequently contacted by the media for our industry expertise, and for our willingness to “tell it like it is.”
The article covers many important points, and yet just scratches the surface on why Columbus home buyers – and home sellers – are disadvantaged by dual agency and the typical practices of most real estate agents. For example:
1. Listing agents and so-called “buyer agents” are taught in real estate classes and company training sessions how to use the “ping pong” technique against an unsuspecting buyer. Namely, a buyer is shown a dramatically overpriced home, and then shown one of the agent’s own listings. The agent’s own listing may still be somewhat overpriced, but the selective comparison makes the buyer think it’s a “good deal!”
2. Many traditional buyer agents believe the home inspection results are simply a “guide to what the buyer will need to repair.” In actuality, the agent should negotiate seller repairs of any defects that were not disclosed prior to the offer!
3. When presenting market comparisons, some agents will skew their data to justify a higher home price, rather than expose and review all of the legitimate comparisons of similar homes. This can be used to influence a home buyer to make a purchase offer, and to offer a higher price than what they may have otherwise!
Ready for more? We strongly encourage you to read: “10 things buyers, sellers might not hear from their real estate agent!”
As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.
Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!
Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!
Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax
