Your Advocate – Not Your Cheerleader

Posted by Greg Steinaker on Tuesday, May 27th, 2014 at 9:34am.

Do people want to hear flattery or the truth?

BanCorp Realty believes in full disclosure and firmly believes that even though a person might not like it at first they will certainly appreciate it a short-time later: hearing the cold hard facts of the real estate transaction at hand. “My neighbor three doors down just sold their home for $780,000 and I want you to list my home for the exact same price.” Now we have done our homework in advance on this comparable sale and determined that his home had a custom pool, highly upgraded kitchen and professional front yard landscaping (all of which our prospective client didn’t possess). So, does BanCorp bend to the hopeful client’s wishes and list the home at $780,000 to secure the listing? No we wouldn’t. We would scale it back, adjusting it based on a fair Broker Price Opinion or BPO – if we lose the listing, we lose the listing. With that being said, BanCorp Realty acted with integrity.

BanCorp Realty: Mission Viejo Homes For Sale

Another example where we see a prospective client benefiting from sound advice occurs when we represent a family as a buyer’s agent. Normally we will offer or provide financing through our division UBC Direct Lending, but there are times when a client has already secured outside financing (we won’t show properties if the buyer has not yet been pre-approved for a mortgage – company policy). If we believe that a family is stretching themselves financially, even if the lender says that they are good for the mortgage, we will say so. Just because the lender say you are pre-approved for an $825,000 mortgage doesn’t mean you have to take out an $825,000 loan. Here is a quick example. We know that you are paying for your oldest kid to go to college (something that the lender likely would not know), and you are forking out $2,000 each month for junior’s tuition. We might even just advise you to hold off on buying anything until he finishes college, or simply scaling back the purchase to something more financially reasonable.

This is Truth in Real Estate and Real Estate in Action.

BanCorp Realty: Aliso Viejo Homes for Sale

Below are the final 7 guarantees that BanCorp posts in our Commitment to Service Excellence. This is final blog posting in a 3 part series outlining our 21 point service guarantees (commitments) we extend to all existing and prospective clients.

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