Mariana Wagner
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SELLERS: Is Your Agent Really Representing YOU? (3 Reasons Why I DisTrust the “… or I Will Buy It” Guarantee)
“I will sell your house in 60 Days or I will BUY it!” Wow! What a great guarantee that your home will be SOLD something all Sellers want, right? But, do you really think that the agent who offers that “guarantee” is really the one shelling out the cash to BUY your house?
I want to discuss FIDUCIARY DUTY the duties that YOUR agent the one that YOU hire to sell YOUR house – owes to YOU.
- Loyalty: To act at all times in the best interest of the principal and to put those interests above all others, including yourself.
- Obedience: To obey promptly all lawful instructions of the principal.
- Disclosure: To disclose all known, relevant facts to the principal.
- Confidentiality: To safeguard the principals secrets, unless keeping the confidence would violate disclosure requirements about the propertys condition.
- Reasonable care and diligence: To diligently use real estate skills and knowledge when pursing the principals affairs.
- Accounting: To account for all funds and property entrusted by the principal.
Second: Whose interests is the agent going to put first? You the Seller, who may or may not ever do another deal with this agent? Or, the “investor buddies” who are good for several deals a year = more commission in the agents pocket? I see this as a complete conflict of interest.
Third: Someone looking to sell their home DESERVES the absolute BEST service and LOYALTY from the agent that they hire. A GOOD AGENT should not have to offer a “guarantee” like this to sell a home. A GOOD AGENT should KNOW the local real estate market and have EFFECTIVE MARKETING in place to SELL YOUR HOME for the most amount of money in the shortest amount of time for the current market conditions.
In a day where foreclosures are out of control, there are many folks desperate to sell. A “guarantee” like this can be very enticing. Of course, there are always exceptions, and different personal situations call for different approaches. I just want you, the Seller, to understand the possible ramifications of accepting a “guarantee” like this.
Other Posts of Note:
Broker Bryants Post on Mortgage Fraud
Broker Bryants Other Post on Mortgage Fraud
Posted By: Mariana Wagner Colorado Springs Real Estate Monument Real Estate
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