A new book critical of ...traditional real estate practices ... almost certainly will find a following among buyer agents, educators and consumer advocates. ... Bought, Not Sold .... is dedicated to simplifying agency concepts to the average homebuyer and seller. -- FRANK COOK, Publisher, Real Estate Intelligence Report / Agency Law Journal
At last, a book about real estate agency written for the layman. ... Bought, Not Sold tells the real story ... what to expect ... what to demand and how to get what you pay for from real estate service providers.
.... the best defense against financial loss today is smart buying. Bought, Not Sold provides the information necessary to be a very smart buyer.
Bought, Not Sold is not just for buyers, but should be required reading for every real estate broker and agent, every state legislator and every seller of residential property." -- Becky Swann, Editor/Publisher, International Real Estate Digest
While Ray Wilson's Bought, Not Sold can save consumers thousands when they buy, it should be mandatory reading for any agent purporting to be a buyer's agent---especially one that expects to survive through the real estate revolution. -- JULIE GARTON-GOOD, Syndicated Columnist, "The Frugal Homeowner". (Past President, Real Estate Educators Association)
Excerpt. © Reprinted by permission. All rights reserved.
The following is a excerpted from Chapter 1: Agency, Quality, Revolution, and Resistance
Crazy! You'd say I'm crazy, if I dared to suggest that someone seeking to sell his or her home might want a good buyer's agent; you'd wonder how I missed the obvious difference between buying and selling. Most real estate agents would agree with you - and rightfully so, since, under the laws of agency, a buyers' agent must serve the interests of the buyer and not the seller. And yet, a brochure distributed by real estate agents nationwide notes the options for consumers, boasting that someone selling a home can hire a seller's agent, and that a buyer has three choices: a seller's agent, a seller's subagent, or a buyer's agent
What is wrong with this picture? Nothing, according to most agents. It might be crazy to use a buyer's agent to sell your home, but it is somehow a rational option to use a seller's agent to buy a home. Most real estate agents see it that way because most are sellers' agents, obliged by the laws of agency to maximize the sellers' interests - but they know it is the buyers who have the money.
Salespeople need something to sell (have patience; the wisdom in this book does eventually get deeper than this).