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This is not Real Estate for Dummies.  But, it probably should be.  The basic definition of dual agency is “The same real estate agent is representing both buyer and seller in the same transaction”.  Dual agency is the single worst issue involved in real estate.  The average “Joe” out of the street easily understands that dual agency is WRONG.   This seems like common sense to the regular guy.  So, why can’t the politicians and many real estate agents & brokers understand this simple terrible concept?  The main reason why dual agency exists is because of the glorious MOOLAH.  Real estate brokers and agents have a huge financial incentive to be involved in a dual agency transaction at the detriment of their buyer or seller.  Dual agency has no benefits to protect the consumer (buyer or seller).  One of the simplest and best examples that I’ve ever read about the problems of dual agency actually came from a traditional real estate agent (Matt Difanis) in Illinois and not an Exclusive Buyer Agent.  A few years back, Matt had a sent this letter to the Realtor Magazine.

Here is another real simple definition; agency is when a real estate broker discloses “who” & “how” they are going to represent a buyer or seller.  Home buyers need to STOP spending all their time on the Internet looking at pretty pictures of potential homes and START spending more time fully understanding all types of agency (dual, single, transactional, limited or designated).  Understanding agency is definitely not the most exciting part of the home buying process.  As a matter of fact, it is down right boring.  But, PLEASE, PLEASE, PLEASE; before you start down the path of buying a home make sure you spend time fully researching everything.   As with many major financial decisions (car, home, vacation, etc.) most of us end up rationalizing decisions based on emotion, don’t make a decision based on emotion!!

Non-disclosed dual agency is ILLEGAL in all 50 states.  But, only a few states have made (disclosed) dual agency illegal.  Dual agency should be”outlawed” and made illegal in all 50 states.   If you are a buyer or seller involved in a dual agency transaction and you don’t completely understand dual agency than you should immediately contact or RUN to your nearest real estate attorney.  

Here are a few other good blogs and web sites that just say NO to dual agency:   Bloodhound Realty & Homebuyer Representation

HomeBuyer Advocate Mike

Representing People, NOT Property!

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 Television

In 2000,  we won FIRST PLACE in the television advertising category for a medium/small real estate firm in the State of Ohio.  The advertising & promotion contest was  Blue Ribbon  sponsored by the Ohio Association of Realtors (OAR).  These television commercials were conceived & produced in Central Ohio by a good friend of mine who is in advertising.  We produced these commercials for the National Association of Exclusive Buyer Agents (NAEBA).  NAEBA is our professional trade organization.  I hope you enjoy these spots.  I am really proud of the commercials.  I think the messages of these commercials are very powerful.  Today’s home buyer really has to question their “so called” buyers agent’s loyalty, competency and advocacy.  The home buyer really has to be aware of their agents duties and required disclosures to them or LACK OF!  The 30 second spots are funny, informative and controversial.

Cannonball II   http://youtube.com/watch?v=agN7p1lGvtQ  

(This is not a clip of that great Burt Reynolds sequel movie in the 70’s – Cannonball Run)

Problem             http://youtube.com/watch?v=1c15qPWkAz8

Flight Path        http://youtube.com/watch?v=1ASHpSARguU 

Watercooler      http://youtube.com/watch?v=5OR8JSETKVs 

SOB                   http://youtube.com/watch?v=C1KfYDx_DAI  

Thinking            http://youtube.com/watch?v=mTaiJqGDmPg   

Hounds              http://youtube.com/watch?v=cKFtTGCzHJ0   

Cannonball        http://youtube.com/watch?v=1xD37nhebGU     

In the future I hope to have more home buyer advocate clips on my main youtube site:

http://youtube.com/profile?user=OSUMike64

Ohio Association of Realtors Award Certificate 

I hope you enjoyed these funny, informative spots.

HomeBuyer Advocate Mike

 

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The Energy Policy Act of 2005 offers generous energy tax credits to consumers and businesses that purchase fuel efficient cars and/or energy efficient items for their home.  Small spread out moneyHomeowners can receive a tax credit up to $500.  Homeowners that purchase and install certain energy efficient products for their home such as; windows, exterior doors, heating and cooling systems,  water heaters, storm doors, insulation, etc. (see chart for more information) prior to the end of the year will be eligible for the tax credits.   The energy tax credit program is scheduled to end December 31, 2007.  So HURRY up and ACT now!  A tax credit is more beneficial than a tax deduction.   A tax credit reduces your actual tax amount due “dollar for dollar”.   A tax credit can provide substantial savings to the homeowner.  Click here for more information about tax credits from the Internal Revenue Service (IRS).  Good luck and stop procrastinating.  Uncle Sam wants to give you money for going GREEN! 

Another great, informative web site to check out is the Energy Star Program.

HomeBuyer Advocate Mike

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Forbes magazine recently posted a great article about housing trends in America, “Americas Most Stable Housing Markets”  The article ranks the Top 10 most stable housing markets in America.  The real estate market has been dreadful in the last year.  But, the good news is that  Columbus, Ohio  ranked  3rd on the list.  Even though the State of Ohio & central Ohio consistently rank very high on many of the recent foreclosure rankings list, our area has ALWAYS had a very, stable housing market.  One of the big advantages of living in central Ohio, even prior to the latest downturn in the real estate market, was our stable market.  We’ve almost always enjoyed a solid, decent appreciation rate without the wide volatility swings that many other areas in the nation experience.  

HomeBuyer Advocate Mike

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Buyer's Resource Realty Services 7100 N. High St. Suite 204 Worthington, OH 43085
614.321.9577

Michael Marshall – Angie’s List Super Service Award 2013!

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HomeBuyer Advocate Mike


Representing People, NOT Property in Columbus, Ohio. If you are a home buyer, then you need me to protect you. I can help you get the best price and terms for your next home purchase. You must use a true Buyer Broker! 1.614.805.7607

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