Bought, Not Sold: Single Agency, Buyers' Brokers, Flat Fees and the Consumer Revolution in Real Estate

by Ray Wilson

Bought, Not Sold by Ray Wilson is a fascinating expose of a culturally-entrenched real estate profession holding buyers and sellers captive. This book now provides both with liberating knowledge. Unique among the many books advising people on buying and selling homes, it does not pretend to give the layperson professional real estate competence, but shows the way to find trustworthy agents and protect oneself from those who are not. As the cover proclaims, Bought, Not Sold is "what every buyer and seller should know before working with, or against, the pros." It is also a story of real human interest with heroes -- buyer agents and certain seller agents -- struggling to bring consumer reform, and of real-life intrigue with plotting vested interests organized in a campaign to dupe lawmakers with pseudo-reform legislation, in effect sabotaging efforts toward genuine reform. Historically, the real estate profession provided agency only to sellers, though buyers paid for all fees through the price, and although buyers in particular had to literally live with the consequences of buying without the protection of agency. Today, facing competition from genuine buyer's agents, and growing consumer awareness of their value, the traditional agents seek to change the laws so they can simply call themselves "buyers' agents" or "buyers' brokers." Finally, Bought, Not Sold is a credible work with endorsers of national stature representing a broad spectrum of expert perspective. It is of value not only to consumers, but to providers in real estate and associated professions who want a realistic perspective.

Paperback

Published January 1, 1998