Buy Is False Advertising

Services for Real Estate Pros with Web Email Flyers

buy owner

Just last week, I was working with a client who I was showing multiple houses to.  While showing homes in a particular neighborhood, we came across a Buy Owner listing.  I showed the listing to my buyers, who ultimately put in an offer which was accepted by the owners.  The owners agreed to pay me a commission for bringing them a buyer. 

A week later, I was browsing the Buy Owner website to see the listing that my clients were purchasing and to my amazement, I saw an Under Contract status on the listing, similar to the photo above.  I thought, "What did Buy Owner do to help facilitate this deal?"  Isn't this false advertising because my buyers never saw the listing on the website: and only came across the listing because of the sign in the front yard as we were looking at other homes in the same community.  If it would have just been a regular By Owner sign, they still would have wanted to see the property. 

Sellers must BEWARE of this falsified advertising tactic.  Buy Owner did nothing for the seller except take a non-refundable $10,000 fee to list the home on their website in their so-called Featured Section.  I did all of the work working with the clients and helping this deal get to the closing table.  Boy, will this be a great story to explain to my potential sellers that are thinking about going with to try and help sell their property.  Does anyone have any similar stories about Buy 

Michael With Web Email Flyers

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Comments (5)

Simon Conway
Orlando Area Real Estate Services - Orlando, FL

Not a fan of BuyOwner here either, but I don't think what they did was false advertising.

1. They Listed it

2. It was under contract.

Sep 28, 2007 02:31 AM
Michael Citron
Web Email Flyers - Plantation, FL
Yes Simon, I agree that the home was under contract, but not through them at all.  It makes people think that Buy Owner sold the listing.  If the seller gave you $10,000 to market the property and then you had nothing to do with the sale, should you get credit?  Under Contract status reinforces the notion to potential seller that the Buy Owner system really works.   
Sep 28, 2007 02:40 AM
Carol Zingone
Berkshire Hathaway Home Services Florida Network Realty - Jacksonville Beach, FL
Global Realtor in Jax Beach, FL - ABR, CRS, CIPS
I had a seller last year, who first went with Buy Owner, and he paid $4K upfront and got nothing, so he listed with me.  I agree, it seems they really don't do much, but, they get business....
Sep 28, 2007 06:22 AM
susan-about buyowner

i had a friend who listed with buyowner and upon listing with them was told that buyowner helps with everything..well...thousands of dollars later  all they got was a total of four--FOUR times the home was suppose to be sold-went into contract thru buyowner only to fall thru each time--meanwhile buyowner told them they would prescreen and all -they did nothing-this couple had to finally wait to go out of contract to list with a agent and lost thousands of dollars!!!!

May 20, 2008 12:33 AM
Damon Botticelli
Silver State Realty & Investments - Las Vegas, NV
Realtor - Las Vegas Real Estate

$10,000  really? wow.  I'm amazed people who are trying to save money by not listing would pay that.  And they paid you a commission on top of that?

Jul 22, 2008 07:42 AM