Oklahoma Supreme Court Slams Real Estate Commission
By Anthony Longo 15 09 2008
This is an article from 1999 regarding an Exclusive Buyers Agent that was selling his service as a much better service than traditional real estate agents could offer…for a good number of reasons. The bottom line is that the big bad Real Estate commission didnt like it and they had the support from the NAR…so they fined Snider who ultimately did not pay and sued the Oklahoma Real Estate Commission. A great story of an innovator way ahead of the times….well Mr. Snider, we thank you, and we hope to continue to push the envelope as an Exclusive Buyers Agent here @ CondoDomain.com
“The Oklahoma Real Estate Commission had claimed that advertising material, handed out by Kenny Snider, a broker and owner of the Woodward, Oklahoma franchise for The Buyer’s Agent was false and misleading and fined the broker $200. Snider refused to pay up and the case went to court.
The litigation began in 1993 when Snider began receiving cease and desist letters from the real estate commission. What got the commission’s goat was something brought to its attention by Snider’s angry competitors - traditional brokers who didn’t want the public to know that a better mouse trap might exist for the consumer. Seems Snider was also pointing out that the only true agency was exclusive agency and that if a buyer went with any other kind of agent, particularly dual agents, they wouldn’t be receiving full representation. Imagine the shock” Continued…
Source: Realty Times
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Working with an Exclusive Buyers Agent?
You may be…you may not be…. Why dont you ask them these questions and find out yourself.
1. Will you show me all homes for sale that are ideal for me including New Construction, For Sale By Owner, Foreclosures & Auctions?
2. Will you guarantee that all information I give you will be kept confidential?
3. Will you guarantee me your undivided loyalty?
4. Will you guarantee me that you will not try to change your relationship with me to “dual agency”, “designated agent”, “transactional agent”, or any other form of agency that offers reduced levels of service and could possibly compromise my negotiating position?
5. Will you guarantee me that you will not be representing any seller at any time while you are working for me?
6. Will you point out all the negative aspects of each property as well as the positive aspects so I will be fully informed when making my decision?
7. Will you provide information on comparable sales and help me formulate an offering price and negotiating strategy?
8. Will you provide me a list of lenders, home inspectors, insurance agents and other professionals that you recommend?
9. Will you act in a Fiduciary capacity and owe all Fiduciary Duties to me?
10. Can you guarantee me 100% loyalty 100% of the time? Plus… Do you offer any kind of commission refund or rebate if I help in the search and compare process?
Only an Exclusive Buyers Agent working in an Exclusive Buyer Agency
can answer “Yes!” to ALL of the questions.
Your questions to ask exclusive buyer agents are a great way to find out their personal philosophy of customer service. With this knowledge, you should be able to deduce whether they will be able to help you in the way you want to be helped.