In welcome news for home buyers, real estate agents are now more accountable for the price they quote than ever before.
For years, many agents’ preferred trick has been to entice the home seller with the promise of a high price and at the same time lure the buyers into bidding with the hope of a low price.
Under the new guidelines, agents must now increase the price guide when, or if, an offer is made above the agent’s price guide.
The agent is forbidden, by law, to continue marketing the property at a lower price than what has already been offered.
If you would like to know more about these changes, please email or call me.