A Real Estate Guarantee

REALLY...............A REAL ESTATE GUARANTEE????!!!!

Most items we purchase or services we buy in today’s modern economy come with some sort of a guarantee or warranty.  Whether it’s a motor vehicle or a toaster or a service such as carpet cleaning or pest control every supplier or service provider is required to honour their product or service with a guarantee.

But What about Real Estate??

Guarantees of Service in Real Estate are rare but sellers should never hire an agent without one. 

Why? All agents will ask sellers to sign a form of Exclusive Agency Agreement which “locks in” the seller to the agent for a period ranging from 30 to 120 days.

What happens if you’re unhappy with the service? In most instances you are “stuck” because the Agreement is an enforceable legal document. If you try and cancel the agreement and move to another agent you face the prospect of paying double commission when you sell.

The best agents will gladly guarantee their services in writing in the form of a dismissal guarantee.  If you’re unhappy with the service and can’t sort the problem out you can “sack” the agent and obtain a written release from any obligation to pay commission.

HOUSE PAINTERS & REAL ESTATE AGENTS

When a house painter and a real estate agent come to your house they have one thing in common.

They both want the job and they both have to give a quote.  If the painter gives you a quote and gets the job he has to honour it.

But, if the real estate agent gives you a quote and gets the listing he doesn’t have to honour his quote.  Often in Real Estate the highest quote gets the job or as we say in the industry “The biggest liar gets the job”.

SO WHAT’S THE SOLUTION?

Just like the house painter gives a written quote, ask your agent to give you his quote in writing and honour it.  i.e. Guarantee the range he quotes and if the property doesn’t sell within the quoted range the agent agrees not to charge the seller any commission.

 i.e. a free sale.

At Patterson Real Estate we offer a Guarantee for sellers in the form of a “Home Sellers Protection Guarantee” which not only guarantees our quoted price but also covers other things like buyers found by the owner, security at inspections and cancelling the agreement.

If your agent doesn’t offer a written guarantee you can ask the agent to sign the guarantee produced by the Jenman Group or reduce the exclusive agency time frame to 30 days and monitor the agent’s performance over this period.

You can always extend the exclusive agency period if you are happy with the agent’s performance.

NOTE: The guarantee referred to can be used with any agent.

 i.e. the agent of your choice.

WARNING: BE VERY WARY OF ANY AGENT WHO IS NOT PREPARED TO SIGN A GUARANTEE OF PRICE AND SERVICE.