Local Real Estate Agents recent ads - claim to have thousands of buyers??

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dm200
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Location: Washington DC area

Local Real Estate Agents recent ads - claim to have thousands of buyers??

Post by dm200 » Sat Sep 16, 2017 7:44 pm

There are two or three heavily advertised (Washington DC area) real estate agents that claim:

1. They have thousands of buyers ready to buy (one says over 5,000 another says over 8,000)

2. They claim to sell houses much faster than average and for much more than average

3. They claim that if the listed house does not sell in the specified time - they will buy the house for cash

What is the "catch" OR, if none, how do they do what they claim??

Teague
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Joined: Wed Nov 04, 2015 6:15 pm

Re: Local Real Estate Agents recent ads - claim to have thousands of buyers??

Post by Teague » Sat Sep 16, 2017 8:12 pm

dm200 wrote:
Sat Sep 16, 2017 7:44 pm
There are two or three heavily advertised (Washington DC area) real estate agents that claim:

1. They have thousands of buyers ready to buy (one says over 5,000 another says over 8,000)

2. They claim to sell houses much faster than average and for much more than average

3. They claim that if the listed house does not sell in the specified time - they will buy the house for cash

What is the "catch" OR, if none, how do they do what they claim??
Heck, I'll buy your house right now for cash, and save you the trouble of going through those guys.

I'm pretty sure they didn't say how much cash, and neither will I. :wink:
Semper Augustus

tim1999
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Re: Local Real Estate Agents recent ads - claim to have thousands of buyers??

Post by tim1999 » Sat Sep 16, 2017 8:16 pm

I don't know about Washington DC, but in my market we have a big-time who advertises heavily that he will buy your house for cash if he can't sell it in some period of time (60 days?). The catch is that he pays a fire-sale price, on par with what one might pay a bank for a foreclosed house or even less. He makes repairs/spruces it up and either flips it or keeps it as a rental depending on the type of house. If you need out immediately, he can get you out of it in a matter of days...for an even lower price.

My guess is that "thousands of buyers" refers to the number of email addresses they have signed up for some spam newsletters or automated listing emails.

gwrvmd
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Re: Local Real Estate Agents recent ads - claim to have thousands of buyers??

Post by gwrvmd » Sat Sep 16, 2017 9:44 pm

Everybody within a 25 mile radius that doesn't own a house is a potential buyer. That could easily be 5,000 to 8,000 in your area. Most all real estate agents in metropolitan areas could make the same claim.......Gordon
Disciple of John Neff

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BolderBoy
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Re: Local Real Estate Agents recent ads - claim to have thousands of buyers??

Post by BolderBoy » Sat Sep 16, 2017 10:23 pm

Maybe those realtors are terrified about this: https://www.cnbc.com/2017/09/15/no-more ... t-fee.html

... and want to grab what they can while they can?
"Never underestimate one's capacity to overestimate one's abilities" - The Dunning-Kruger Effect

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