A new homebuyer book is out that every homebuyer in the US should read before even talking to a real estate licensee/salesperson – Not One Dollar More! – How to Save $3,000 to $30,000 Buying Your Next Home.
This is a new edition completely updated for 2018. I had the privilege of helping to update the book for this latest edition. The second edition was published 18 years ago. Much has changed in the real estate industry since then including the real estate industry changing from true representation of “clients” to a deeply ingrained sales culture pushing in-house sales.
The result has been a deception of the real estate consumer into thinking that they are being represented when in fact they aren’t. This deception comes under the names of designated agency, transaction broker or facilitator. These are all deceptions hiding the fact that these are all forms of dual agency for in-house transactions and that the licensee/salesperson owes limited fiduciary duties to buyers and sellers. Undivided loyalty goes out the window for these forms of limited representation.
True buyer agents can be found at www.naeba.org or in Massachusetts at www.massbuyeragents.org.