Metro® Boston, Publication Date: March 16, 2011
By Attorney George Warshaw
A recent advertisement offered to give a buyer a “$5,000 rebate certificate” if the buyer attends one of the broker’s “open houses” and then uses that broker as the buyer’s agent in the sale of any property.
Hmmm! Sounds interesting. Go to an open house, see a particular house or condo, sign up right then with the broker to buy that or any other property, and get $5,000 back at the time of purchase.
This could be a good deal for a buyer, but it also might not.
A broker that lists a house or condo for sale receives the entire sales commission where there is no other broker involved. That’s good for the broker: it doesn’t have to split the commission with a buyer’s agent.
Where the listing broker gives a buyer a cash incentive to use no other broker, how does a buyer know the lowest possible price at which the property could be purchased where the buyer is not getting independent advice?
There’s no substitute for being a knowledgeable buyer. Consider assembling your own team of realtor, lender and lawyer before you start shopping for a new home. You’ll be assured that way of getting the best possible advice. © 2011 George Warshaw.
The foregoing is not intended as legal advice. Consult an attorney to see how or if the foregoing applies to you.
Attorney George Warshaw represents buyers and sellers of homes, condos and investment properties, prepares wills and trusts for inheriting real estate, and trusts that protect your children and pets. George welcomes new clients and questions at george.warshaw@warshawlaw.com.
If you missed my column in the Wednesday Boston®Metro newspaper you can read it here! And contact me if you need help in buying or selling your home or in planning your will. - George
George in the Metro 
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