My friend is thinking of choosing a realtor for selling her home. She showed me a couple of brochures from national realtors, which said once listed, the realtor "guarantees to sell your home in 61 (another said 90) days"
Is this some sort of scam?
2007-03-17 09:59:39 · 7 answers · asked by paanbahar 4 in Business & Finance ➔ Renting & Real Estate
Common sense tells us that no one can predict or guarantee when anything will sell - unless the deck is stacked somehow. Read the fine print. Typically these claims involve one or more of the following:
1. You agree to allow the broker to invoke some pretty radical discounts at his discretion during the listing term, ultimately gambling that you'll sell below the market price but guaranteeing the broker can sell the bargain home on time;
2. The broker agrees to purchase the house (again at a substantial discount) if it doesn't sell in the promised time;
3. The broker agrees to purchase the house at a fair market price determined by him, the requirement being that you purchase your replacement home through him.
There may be other twists I haven't seen, but these are the most common in my experience.
2007-03-17 13:53:54 · answer #1 · answered by njc_flhtc 4 · 1⤊ 0⤋
No scam. Guarantee means the agent will buy your home if he/she is not able to provide a willing, able, and ready buyer for your castle. Read the Listing contract for sale carefully. DO ask many questions. An informed consumer is a smart consumer.
2007-03-17 19:39:46 · answer #2 · answered by devil dogs 4 · 0⤊ 0⤋
It may mean that they will then offer to buy the house themselves. I doubt that what they pay will be the same as the asking price. You may find it better to extend it or find another agent rather than taking the guaranteed offer.
2007-03-17 10:03:55 · answer #3 · answered by Barkley Hound 7 · 1⤊ 0⤋
no- if the market is somewhat hot and with the right advertising- there is a chance it could sell within that time frame. Notice the word "chance". It is an advertising ploy.
2007-03-17 14:00:27 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I can sell your house in one day at the right price. How much are you willing to lose for a quick sale?
2007-03-17 10:03:46 · answer #5 · answered by Anonymous · 2⤊ 0⤋
It means they will lowball what they think the listing price should be so they can either ensure a quick sale or buy your home at a discount.
2007-03-17 20:37:05 · answer #6 · answered by Cdn_Superdave 4 · 0⤊ 0⤋
It means if they dont sell it, they will let you out of the contract you signed with them.
2007-03-17 11:33:16 · answer #7 · answered by BWW 2 · 0⤊ 0⤋