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I had a client ask me Is this really true?   They were asking about the bill board that said I guarantee to sell your house or I'll buy it.  Is this another real estate myth?

It is true if you agree to sell your home to the real estate agent to a low price.  This gimmick or come on is all about common sense.  Ask yourself this simple question......"why would they buy your home if they cannot sell it to the general public.  Your home may need work and may be over priced for the condition.  Or your home may be in excellent condition with many updates but over priced.  So why would any realtor buy an over priced home just to make you happy?  Do your really think that any realtor that is in the business is going to do that?  ABSOLUTELY NOT.  Real estate agents buy smart and buy homes at bargains.  The simple truth is yes the real estate agent will buy it but at a much lower price that you think.

As a Metro Detroit real estate agent I don’t believe in gimmicks or come ons.  I believe in dealing honestly with people.  To explain how this so called “Guarantee to buy your home if I can’t sell it” works is simple.  This gimmick gets them in the door to list your house.  That's what this is all about.  Having you think that your home is already sold with this real estate agent. 

When the gimmick real estate agent comes out to see you….you may have an idea or price of what you want out of your home.  Most Metro Detroit home sellers do.  The real estate agent is going to show you what has sold.  Yes, they will agree to list your home at what you want.   However, they are going to tell you a MUCH LOWER PRICE THEY WILL BUY IT AT.  So if you don't sell it at their price and you want to take advantage of their guarantee, you will be selling it at a lower price.  A lower price most likely than you could sell it for on the open market.  You will be selling at a price the agent has set.  It’s a gimmick, a come on.  So if you cannot sell your home at the higher price then they will buy your home at the much, much lower price that the realtor guarantees to buy it at.

Common sense tells you that they are not going to buy your home at an inflated price.  They want to buy it at the lowest price possible!!!!   They are going to have to re-sell that home at some point in the future.  They can’t afford to buy homes and sit on them.  They can’t afford to buy homes and lose money on them.  It is a sales gimmick to list their home with them.

Why would a real estate agent buy your home or property at a fair price when they have thousands of other homes to chose from?  Come on now….I know you like your house, but a real estate agent or real estate investor is looking for the bargain, the steal that they can make big money on.  Are you the seller that is going to let your house go for a bargain?

I hope this explains how this little gimmick works.  It’s really no different than the person that offers to sell you a warranty deed for $80 after you buy the house.  The same warranty deed you get for free.  They are just exploiting the consumer.

If it sounds too good to be true, it is not what you should go after.   That is how the guarantee to buy your home works.  It sounds good, but you have to understand it won’t be in your best financial interest to do it.  What you should be looking for in an agent is not the low priced guarantee, but the agent that has a good marketing plan, a good work ethic, has experience, and that is honest.

Just my thoughts as I always believe being straight forward and honest from the beginning.

 

Russ Ravary

Your Local South Eastern Michigan realtor helping sellers make their next move