The words that are going to matter, when all this #iBuyer nonsense all blows up, are: \u201cAgency with an interest.\u201d<\/p><\/blockquote>\n
![\"\"](\"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/09\/steve-harrris-aTuAKskNy7Y-unsplash-320x480.jpg\")
\u201cTotally not a clown! In fact, someday soon I\u2019ll be the guest of honor at thousands of lawsuits!\u201d<\/p><\/div>Real estate brokers are fiduciary. They are obliged as agents to put the interests of their clients ahead of all others \u2013 including their own.<\/p>\n
Translation: They don’t get to gull their clients to their own benefit, the way other marketers can.<\/p>\n
iBuyer with an upgrade? iBuyer with an bridge loan? iBuyer with an upsell to a traditional listing instead?<\/p>\n
In which of those scenarios is the iBuyer not blatantly self-dealing.<\/p>\n
Want an easy test? Quoting me again, on a huge host of real estate agency issues: \u201cIf you have a preference, you have a problem.\u201d<\/p>\n
There’s the broker’s duty of supervision in there somewhere, too, but that just seems comical.<\/p>\n
In due course, the Designated Brokers at the Realty.bots are going to look a lot like cops this Summer: Fallguys for ploddingly predatory poindexters.<\/p>\n
None so deserving, fellas. Unlike the billionaires who made you their bitch, you know the law.<\/p>\n","protected":false},"excerpt":{"rendered":"
Me, this morning, at LinkedIn: The words that are going to matter, when all this #iBuyer nonsense all blows up, are: \u201cAgency with an interest.\u201d \u201cTotally not a clown! In fact, someday soon I\u2019ll be the guest of honor at thousands of lawsuits!\u201dReal estate brokers are fiduciary. They are obliged as agents to put the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24,29,5,19],"tags":[],"class_list":{"0":"post-17031","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-egoism-in-action","7":"category-group-therapy","8":"category-real-estate","9":"category-technology","11":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":18332,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18332\/overnight-news-were-you-rooked-by-an-ibuyer-so-was-everyone-else-and-all-of-you-may-have-grounds-for-litigation\/","url_meta":{"origin":17031,"position":0},"title":"Overnight News: Were you rooked by an iBuyer? So was everyone else \u2013 and all of you may have grounds for\u00a0litigation.","author":"Greg Swann","date":"July 20, 2021","format":false,"excerpt":"If you sold a home to an iBuyer over the past 12 months, you were probably rooked \u2013 and you may have grounds for litigation. If the iBuyer did not explicitly disclose to you that listing on the MLS would be to your best financial interest in a madly accelerating\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17816,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17816\/overnight-news-if-an-ibuyer-talks-you-into-taking-a-lowball-offer-in-the-midst-of-a-market-frenzy-how-sued-should-they-be\/","url_meta":{"origin":17031,"position":1},"title":"Overnight News: If an #iBuyer talks you into taking a lowball offer in the midst of a market frenzy, how sued should they\u00a0be?","author":"Greg Swann","date":"February 5, 2021","format":false,"excerpt":"The world I live in is routinely selling at around 5% over market: If a house lists at or above its current Fair Market Value, when it closes it will turn out to have sold for ~105% of FMV. That's bidding wars, and it's less the agents' skills than the\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":18457,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18457\/overnight-news-if-the-ibuyer-idea-is-any-good-whats-the-rush-to-go-public\/","url_meta":{"origin":17031,"position":2},"title":"Overnight News: If the iBuyer idea is any good, what\u2019s the rush to go\u00a0public?","author":"Greg Swann","date":"September 7, 2021","format":false,"excerpt":"As a matter of news, OfferPad went public last week \u2013 meaning none of the iBuyers are now backed by wide-awake entrepreneurs, just pie-eyed punters. The \"offering\" was done by Wall Street chicanery to avoid even the casual due diligence white-shoe investors normally do. But, of course, no due diligence\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":18740,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18740\/opendoor-shows-the-world-how-the-ibuyer-idea-will-die-death-by-days-on-market\/","url_meta":{"origin":17031,"position":3},"title":"#OpenDoor shows the world how the #iBuyer idea will die: Death by Days-on-Market.","author":"Greg Swann","date":"July 13, 2022","format":false,"excerpt":"Ask any old-timer in real estate what's wrong with the iBuyer idea and he'll tell you right away: \"What happens when the market turns?\" It would be charitable to argue that the iBuyers actually thought this mishegoss would work. Perhaps that's so: They're flippers, except they are very bad at\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2022\/07\/20220617_092249-1.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2022\/07\/20220617_092249-1.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2022\/07\/20220617_092249-1.jpg?resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2022\/07\/20220617_092249-1.jpg?resize=700%2C400 2x"},"classes":[]},{"id":16626,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16626\/whats-your-new-ibuyer-strategy-steal-this-script-and-run-with-it\/","url_meta":{"origin":17031,"position":4},"title":"What’s your new #iBuyer strategy? Steal this script and run with it.","author":"Greg Swann","date":"August 21, 2020","format":false,"excerpt":"When I built iBuyerSpy.com, I had anticipated writing software that would have generated the main content of the site. This never happened. I ended up blogging there, which I should have done here \u2013 an error I am now correcting. By now, the big-foot iBuyers have switched to upselling traditional\u2026","rel":"","context":"In "iBuyers"","block_context":{"text":"iBuyers","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/ibuyers\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/ThaliaRelocated.jpeg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":18500,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18500\/overnight-news-if-you-got-beat-by-an-ibuyer-you-deserved-it\/","url_meta":{"origin":17031,"position":5},"title":"Overnight News: If you got beat by an iBuyer, you deserved\u00a0it.","author":"Greg Swann","date":"September 25, 2021","format":false,"excerpt":"Linked below, there is apparently a TikTok video of a real estate agent accusing iBuyers of nefarious market brilliance. He's in Nevada, where Florida goes to blow its reputation for probity, so that alone may explain his conclusions. 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They buy low\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/17031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=17031"}],"version-history":[{"count":5,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/17031\/revisions"}],"predecessor-version":[{"id":17037,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/17031\/revisions\/17037"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=17031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=17031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=17031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}