{"id":18332,"date":"2021-07-20T06:47:25","date_gmt":"2021-07-20T13:47:25","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=18332"},"modified":"2021-07-20T06:47:25","modified_gmt":"2021-07-20T13:47:25","slug":"overnight-news-were-you-rooked-by-an-ibuyer-so-was-everyone-else-and-all-of-you-may-have-grounds-for-litigation","status":"publish","type":"post","link":"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\/","title":{"rendered":"Overnight News: Were you rooked by an iBuyer? So was everyone else \u2013 and all of you may have grounds for\u00a0litigation."},"content":{"rendered":"

\"Ya

\u201cI can out-howl a whole pack of\u00a0dogs!\u201d<\/p><\/div>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.<\/p>\n

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 market, you were overtly and objectively misled. A licensee misleading a customer creates agency \u2013 omission is deception, deception is advice. Arguably, you were gulled out of a substantial portion of your equity in an undisclosed dual-representation: You were advised to make a mistake by the party \u2013 agent AND<\/em> principal \u2013 benefitting from the error.<\/p>\n

Until now, class action lawsuits for undisclosed dual-representation have been the belles of the real estate litigation ball. But how about a class action lawsuit against an entire class of gonophs? All of the iBuyers can and should have their licenses put to the test: Are they fiduciary \u2013 and hence massively-redundant double-dealers \u2013 or are they somehow exempt from the real estate licensing laws?<\/p>\n

In other news:<\/em><\/strong><\/p>\n

CNBC:<\/strong> Homebuilder confidence is still high, but it slipped this month as construction costs grew.<\/a><\/p>\n

Redfin.com:<\/strong> Interest in Relocating Remains Elevated, With Nearly 1 in 3 Redfin.com Users Looking to Move to a Different Metro.<\/a><\/p>\n

CNBC:<\/strong> Homebuyers aren\u2019t seeing savings from falling lumber prices \u2013 here\u2019s why.<\/a><\/p>\n

Mike DelPrete:<\/strong> The Rise of Power Buyers.<\/a> See above and add two more rookings: The buy-side and the financing.<\/p>\n

City Journal:<\/strong> A Nation of Rentiers: The notion that homeownership should be a primary tool for building wealth is mistaken.<\/a><\/p>\n

Helen Raleigh:<\/strong> Public Schools\u2019 Systemic Problem Isn\u2019t Racism Or Money. It\u2019s Teachers\u2019 Unions.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cI can out-howl a whole pack of\u00a0dogs!\u201dIf 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 […]<\/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":[29,26,6,5],"tags":[],"class_list":{"0":"post-18332","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-lending","8":"category-marketing","9":"category-real-estate","11":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":17031,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17031\/if-youre-an-ordinary-salesmonster-and-you-rook-some-sucker-into-a-raw-deal-youre-just-a-sleaze-but-if-you-are-fiduciary\/","url_meta":{"origin":18332,"position":0},"title":"If you\u2019re an ordinary salesmonster and you rook some sucker into a raw deal, you\u2019re just a sleaze. But if you are fiduciary…","author":"Greg Swann","date":"September 16, 2020","format":false,"excerpt":"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 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.\u2026","rel":"","context":"In "Egoism in Action"","block_context":{"text":"Egoism in Action","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/egoism-in-action\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/09\/steve-harrris-aTuAKskNy7Y-unsplash-320x480.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":18332,"position":1},"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":18332,"position":2},"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":18500,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18500\/overnight-news-if-you-got-beat-by-an-ibuyer-you-deserved-it\/","url_meta":{"origin":18332,"position":3},"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. Mine are the opposite: The iBuyers are terrible marketers. 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":[]},{"id":16626,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16626\/whats-your-new-ibuyer-strategy-steal-this-script-and-run-with-it\/","url_meta":{"origin":18332,"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":18590,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18590\/overnight-news-gaming-artificial-intelligence-is-as-easy-as-selling-your-white-elephant-to-an-ibuyer\/","url_meta":{"origin":18332,"position":5},"title":"Overnight News: Gaming \u201cArtificial Intelligence\u201d is as easy as selling your white elephant to an\u00a0iBuyer.","author":"Greg Swann","date":"November 10, 2021","format":false,"excerpt":"Here's a true fact about iBuying: The sellers are gonophs. Home-sellers are often gonophs, of course, and, even if not, the information asymmetry runs all their way: Neither your Buyer's Agent nor your home inspector is likely to identify that semi-annual drainage problem. But many of the sellers who turn\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\/18332","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=18332"}],"version-history":[{"count":1,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18332\/revisions"}],"predecessor-version":[{"id":18333,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/18332\/revisions\/18333"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=18332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=18332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=18332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}