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Can you get it elsewhere? Traditional real estate agents are self-employed sole practitioners on commission only, motivated and driven by the commissions they earn from each transaction. The lack of direct control and supervision compounded with the opportunity of making a lot of money per transaction can lead to abuse of power which can cost innocent seniors dearly. When financing is needed, the options are not much better and there is a lot of “fine print” to read and interpret. Fine print is everywhere. Furthermore, the scope of
services offered by the traditional housing industry is very limited and
requires seniors to find and consult with numerous experts in various fields
and locations. What’s Wrong with the Traditional Real Estate Environment? The traditional real estate industry’s commission-driven world of independent contractor agents often seems to result in conflicts of interest with the client whom the agent is supposed to serve. The fiduciary duties of an agent towards his client imposed by law often are violated. Having to find someone to trust is not easy and limits the options available to anyone, let alone seniors. In conclusion, “seniors beware,” “to each his own” and “business is business” is the general approach and environment that seniors are faced with today. |
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