Guaranteed Home Sales Programs in New Orleans
“If your home doesn’t sell in 90 days, we’ll buy it”
That’s the pitch from some guaranteed home sales programs offered by real estate brokers in New Orleans. It’s a pretty attractive offer, right? After all, if your property isn’t in one of the hot neighborhoods or isn’t in the condition that most buyers are expecting, it would be nice to know that, no matter what, you’ll get the place sold in 90 days. Even if it’s to your own REALTOR®.
The Fine Print
As with most sales gimmicks, guaranteed home sales come with a catch. You know that saying, “the devil is in the details“? There’s a reason it’s an oft-quoted cliche. Did you really think that agent or broker was going to pay you top dollar?
What’s the catch?
While the broker may be guaranteeing that they will purchase your property if it doesn’t sell within 30 (or 60 or 90 or whatever number) days, it most certainly won’t be at the same price that a normal buyer will pay. We’ve seen some guarantees that promise a purchase by the listing brokerage….at 50%-60% of market value.
Why do agents offer these guarantees?
These programs are designed to do one thing and one thing only. Make the phone ring for the agents so they can increase their number of listings. It’s got nothing to do with wanting to “help” consumers. It’s doesn’t even have anything to do with their marketing plans, since it seems that they are relying on tricks to attract business.
A closing thought
While I’m sure that most of them don’t want to purchase a property that hasn’t sold within the set timeframe, riddle me this. Is that agent really working in your best interests if they know they can buy your house for below market value and then flip it at a profit to someone else? That seems like a big conflict of interest to me.
Seller Beware
If you need to sell your property quickly, there are better ways to do than to buy into a program that leaves your money on the table at the sale. Instead, hire an agent with a plan to get your home sold for the most money within your timeframe. Any house will sell if priced 40-50% below market value. You deserve better advice and representation than that.
Need help selling your New Orleans home? Give us a call at 504-327-5303 today and we’ll get to work on a custom plan designed to meet your needs.
