Most of you don't know how in the world that real estate agent called you. You were just searching for homes on line and all of the sudden an agent calls. It must be magic! Sorry to disappoint you, there is no magic involved. Your contact information was bought and paid for before you even signed in to a website.
When the rules changed and listings became available on the internet, the door was opened for anyone with a website to share local listings with you. Access to the information could be purchased from the multiple listing service. The brokers that provide the information signed an agreement that made the information available to the market. Many companies seized this opportunity to create fancy websites that would attract consumers. Their goal was to draw home buyers in with promises of all the data. They created innocuous little forms to be filled out "so you could be kept up to date with any new listings that meet your criteria".
Once you filled out the information, it was sold. You see, while these companies were creating pretty websites, they were also soliciting real estate agents. They offer "warm leads from buyers in your area". They break down incoming leads by zip code and sell the rights to all the leads in that zip code to any agent that is willing to pay a monthly fee. Some companies just charge a fee so the agent can send a resume to all that sign up in their assigned zip codes. That's right, they don't need to be qualified, they only need a bank account.
Money is changing hands before you even get into the market. Your name, email address and phone number are gold to the companies that sell leads. Major brokerages are not innocent in the practice. You go to Remax, Weichert, Coldwell Banker, Long and Foster etc. and your name is forwarded to an agent that is either willing to share a large part of the commission earned or an agent that pays a monthly fee for the right to receive "referrals". Again, your information is bought and paid for (or bartered for) before you decide to look at homes.
The price varies depending on the source that trades your information. Regardless, the agent that is calling you may not be the most qualified. The agent calling you may have one eye on the cost of your referral and another on the amount of homes you are shown. The agent calling you is viewing the outcome as a return on investment. The agent calling you only had to be willing to pay for the opportunity. I may be crazy, but I believe the agent should be focused on what you need rather than on what will create the best return on his or her investment in a lead system.
Well, I say you deserve the right to cut out the middleman. I don't want to pay for your name. I would rather you took the time to see if I might be the right agent for you. I think if any money changes hands, you should benefit from that rather than be the product being sold. I think there is a better way.
I would rather pay you a rebate, after the purchase of a home. I would rather share a portion of my commission with you after a sale than pay for the chance to represent you in the beginning. Rebates to buyers are perfectly legal in the State of Maryland. The amount of money rebated from me will be directly related to what I earn on the sale. This is not discount representation, this is an open disclosure of the value of working with you.
Rebates for buyers, now that is a better way for both of us. If we meet and you don't think I can do the job, well as they say "no harm, no foul". If you do find that I am more than qualified to represent you and your interests, it is a win-win situation. If you are interested, just click on this link CONTACT ME . If not, well you can always take your chances with someone that chose to buy your name. In either case, best of luck in your home search.
My name is John MacArthur. I am with Remax Realty Centre and I invite you to experience the difference.
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