The Full Story
Fee-Based Buyer Agency
For over 100 years home buyers have been taken advantage of by the real estate industry. It started out in 1908 with the founding of the National Association of Realtors. Realtors worked for the sellers and charged commissions. Buyers worked with the seller's Realtor and didn't have any real estate professional on their side. When buyers asked if there could be a professional they could work with the Realtors responded with seller sub-agency - yes you can have an agent, but they don't work for you, they work for the seller and are trying to get the highest price for the seller. Around 1990 when buyers said that wasn't fair and they wanted their own agent the Realtors responded with what they called "buyer agency" but it was basically seller sub-agency where the buyer agent could speak negatively about the property. That's about it. They were still paid on commission like before and made more money if you bought the first house you saw at the highest price. There was just no way the Realtors were going to give up their commission-based model - it was too lucrative. Enter the Sitzer/Burnett antitrust lawsuit on October 31, 2023. A jury found that the Realtors' commission fee-splitting so common for decades was an antitrust violation and awarded billions of dollars in damages to the plaintiff. That changed everything. Buyers are finally getting a fair shake on the transaction.
We Are Fiduciaries
Fiduciaries have a strict set of duties they must abide by which includes: Loyalty, Care, Disclosure, and Confidentiality. All agents have Care, Disclosure and Confidentiality but only fee-based agents have Economic Loyalty. We don't make more if you pay more. Our fees are independent of the outcome of the negotiations. When we appraise the house you want to buy, before you start negotiating, you know that it is an indepedent and unbiased opinion of value that upholds the highest of standards, the Uniform Standards of Professional Appraisal Practice (USPAP).
Vision
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