“Your Home SOLD at a Price Acceptable to You GUARANTEED or (Agent) will Buy It!*”
This is one of several "marketing" statements I've seen recently from a few real estate agents.
Note the "asterisk" at the end of the statement.
That pesky sucker means that there is more to come, and if that additional verbiage were part of the original marketing statement, hardly anyone, if indeed, anyone at all, would have the slightest interest in jumping through a myriad of hoops, all for the "chance" to sell their home for below market value.
However, both the National Association of REALTORS® Code of Ethics AND Arizona State Law REQUIRE that the "more to come" be fully disclosed at the same time as the original marketing "hook".
Yet, the "more to come" is only disclosed once someone takes the bait and contacts the agent.
And, oh by the way, this "offer" requires you to pay for a pre-listing inspection, home staging, and other miscellaneous "hoops to jump through", and if you read the statement carefully you'll notice that the words "Price Accceptable to You" DO NOT appear AFTER the words "(Agent) will Buy It!"
So how much will the Agent buy it for?
If the implication of the "offer" was accurate, then by definition, the agent would have zero Cancelled or Expired Listings, as they would have purchased those that didn't sell to a 3rd party Buyer - don'tcha think?
Then - how come they do??
How great a deal is that?
Consider this clause that you as a Seller may have to agree to in writing:
"If the Seller receives an offer at or above the guaranteed sale price within the first sixty (60) day period, and the Seller rejects said offer, then this agreement is null and void."
$1 down payment and seller to carry back a 30 year loan at the "guaranteed sale price"??
Could be - it's an offer...
Another instance of "If It Sounds Too Good To Be True, It Probably Is"
What's the point of this "marketing" statement?
To induce prospective Sellers to contact the agent.
Does it meet the requirements of the National Association of REALTORS® Code of Ethics AND Arizona State Law (see detail below)?
Active Rain has close to 280,000 members, most of which are real estate agents and brokers.
Recently I posted the following as a public question in the Q&A section asking them for their opinion, thoughts, etc. on this particular "marketing statement".
Click the link above to see the responses to the question.
The National Association of REALTORS® Code of Ethics requires that:
"REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations..."
Standard of Practice 12-1
REALTORS® may use the term “free” and similar terms in their advertising and in other representations provided that all terms governing availability of the offered product or service are clearly disclosed at the same time. (Amended 1/97)
Standard of Practice 12-3
The offering of premiums, prizes, merchandise discounts or other inducements to list, sell, purchase, or lease is not, in itself, unethical even if receipt of the benefit is contingent on listing, selling, purchasing, or leasing through the REALTOR® making the offer. However, REALTORS® must exercise care and candor in any such advertising or other public or private representations so that any party interested in receiving or otherwise benefiting from the REALTOR®’s offer will have clear, thorough, advance understanding of all the terms and conditions of the offer. The offering of any inducements to do business is subject to the limitations and restrictions of state law and the ethical obligations established by any applicable Standard of Practice. (Amended 1/95)
The "rules of the road" in Arizona state in part:
Arizona Administrative Code
State Real Estate Department
TITLE 4. PROFESSIONS AND OCCUPATIONS
CHAPTER 28. STATE REAL ESTATE DEPARTMENT
Authority: A.R.S. § 32-2107
ARTICLE 5. ADVERTISING
R4-28-502. Advertising by a Licensee
C. A salesperson or broker shall ensure that all advertising contains accurate claims and representations, and fully states factual material relating to the information advertised. A salesperson or broker shall not misrepresent the facts or create misleading impressions.
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