The truth behind "I will buy your house if I cannot sell it"

There is nothing worse than being tricky or lead to believe something that is not totally true. It is in the fine print that the Michigan realtor's promise of "your home sold guaranteed or I will buy it".

There are many variations of this real estate sales gimmick. Some real estate agents will guarantee to buy it, or sell your home for free if it doesn’t sell in 60 days, or knock money off if they don’t sell it in a certain period. Right up front. IT IS A SALES GIMMICK, and it comes with a catch. All right, let’s think about this logically. Why would a Metro Detroit realtor, real estate agent buy a home when they can’t sell it at a certain price? What sense does that make? If you couldn't sell a home to one of the 3.7 Million people that live in Metro Detroit why would you buy it? Do you really think any Michigan real estate agent is going to buy your home at a price you decide on if they cannot sell it? OF COURSE NOT!!!!! The catch is that they want to set the price you list it at and sell it at. The real estate agent wants a quick sale.

The real estate is not going to lose money. They would buy your home at a low price. Remember if they buy it they are going to incur more costs of selling the home. It’s never free. Everybody that sells a house has to pay title insurance and transfer taxes in Michigan. Real estate agents are not given a free pass. That real estate agent now has to pay title insurance, and transfer taxes. IT’S A GIMMICK, A COME ON. Let’s say the lake realtor agreed to buy your home at $300,000. They are going to incur title insurance costs of $1399 and transfer taxes of $2580. So now the net on the property is only $296,021.

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As a Southeastern Michigan real estate agent I don’t believe in gimmicks or come ons. I believe in dealing honestly with people. To explain how this so called “Guarantee to buy your home if I can’t sell it” works is simple.

When the gimmick real estate agent comes out to see you….you may have an idea or price of what you want out of your home. Most Metro Detroit and West Bloomfield home sellers do. The real estate agent is going to show you what has sold. Yes, they will agree to list your home at whatever price you want. However, they are going to tell you a MUCH LOWER PRICE THEY WILL BUY IT AT. It’s a gimmick, a come on. So if you cannot sell your home at the higher price then they will buy your home at the much, much lower price that the realtor guarantees to buy it at.

Common sense tells you that they are not going to buy your home at an inflated price. They want to buy it at the lowest price possible!!!! They are going to have to re-sell that home at some point in the future. They can’t afford to buy homes and sit on them. They can’t afford to buy homes and lose money on them. It doesn’t matter whether it is a lake property for sale in Oakland County or a home you are moving to in Southeastern Michigan. It is a sales gimmick to list their home with them.

Why would a Michigan real estate agent buy your home or property at a fair price when they have thousands of other homes to chose from? Do you think they are just being a nice person? Come on now….I know you like your home, but a real estate agent or real estate investor is looking for the bargain, the steal that they can make big money on. Are you the seller that is going to let their home go for a bargain so the realtor can make money on it?

I hope this explains how this little gimmick works. It’s really no different than the person that offers to sell you a warranty deed for $80 after you buy the house. The same warranty deed you get for free. They are just exploiting the consumer.

If it sounds too good to be true, it is not what you should go after. That is how the guarantee to buy your home works. It sounds good, but you have to understand it won’t be in your best financial interest to do it. What you should be looking for in an agent is not the low priced guarantee, but the agent that has a good marketing plan, a good work ethic, has experience, and that is honest.

If you have questions about buying or selling a home in the Metro Detroit area feel free to call me at (248) 310-6239 or email me at yesmyrealtor@gmail.com I help client buy and sell homes all over Metro Detroit, so whether it is a home in Oakland, Wayne, Livingston, or Washtenaw County or a lake property for sale in Oakland County Michigan and the other counties I can help you.