We would like to say it one more time. We do not represent sellers or buyers. Otherwise, it would violate our strongest beliefs: full transparency and honesty. We provide tools and a place for both sides, but no advice. We think nobody should influence their decision. It is an emotional moment for buyers and for sellers, and, in my opinion, real estate agents leverage it to achieve their personal interest. But that is a discussion for another time. So, we do several things for buyers.
First, imagine you want to buy a house for your family, but everything that is on the market hardly can be called your dream home. What do you do? Wait? Probably not the best idea. There is a reason you want to buy a house. What happens in most cases (we discovered it during conversations with many homeowners), you buy the best of what is offered. Bynsy wants to change that. If there is a house you love, and it is not on the market, let us know. Mark it on our platform, and we will contact an owner and tell him there is interest in his house. Trust us, a little note changes everything and can activate the process. The owner might be thinking about listing it in a year, but now, he has that great opportunity. And you should have an opportunity to buy your dream home, not just some house!
Second, when buyers are interested in a house that was listed through us, they get all information about a house. We are not talking about disclosures; that is required by law. We do independent home inspection before a house goes on the market. This way, buyers know everything about the house in advance, even before viewing it. After talking with several realtors, we found that many deals fall apart because of inspection. In our video blog, “At the end, they turned to a private seller”, Anthony shares the story of a failed deal due to results of inspection and how they lost money. It happens all the time. Buyers can lose $400-500 if a deal falls due to inspection, because they pay for inspection, and it is not refundable. In our case, we pay for inspection initially, and only charge a buyer after his offer is accepted. Buyers can’t lose money when they buy with Bynsy. We want any transaction to be transparent. Please, let me tell you one of the stories we heard in an interview from people who bought a house in a city while living in another state. Their new boss recommended them an agent. And she found them a house, which, by the way, she was selling. Please, remember that. It is very important. I still can’t figure out how is it allowed. It is pure conflict of interest. Anyway, they made an offer almost equal to asking price, and obviously, the seller accepted it. Next step is inspection. These people were very busy and did not have time to search for a home inspector. So, they asked their agent. And she nicely provided them contact information. The inspection report came very good. Very minor issues, nothing bad. For example, replace a broken exterior light fixture. They moved in, and several months later, they had a serious leak in the basement; the roof was leaking etc. You, my reader, can say they could sue the home inspector. Well, those guys are very clever and add to their agreement they are not responsible for anything. And he always could say he did not see it back then. Even if he found those big issues with the house, the agent probably asked him not to mention it in his report. She knows the statistics of fallen deals because of inspection. She did not want it, especially here, because of double commission. I apologize; I forgot to mention it was a million-dollar house. And the home inspector remembers this agent constantly brings him clients. We can’t prove that is what the agent and the inspector did; we just want share others’ stories. Knowledge helps us to make a better decision.
Third, the Bynsy Flex-Tour system is designed not just for sellers, but for buyers. Imagine, if you want to buy a house, you must contact your agent to set up a time for viewing. Your agent must contact the seller’s agent, and the seller’s agent must contact a seller. So many calls must be made; so much time is wasted. I do not want to shock you, but many seller’s agents are not very responsive to your agent. Recently, I spoke to an agent with a client who wanted to buy a house. When they saw this house, this agent contacted the seller’s agent to view the house, but the agency told him it is only for agents from their company for a week or so. Can you imagine? It would never happen with Bynsy. Buyers can see our house any time they want. They do not have make phone calls to arrange it. No barriers built by agencies, no unfair limitations. Finally, if buyers think they do not pay commission, then they are wrong. Every seller who sets the price thinks about the commission he must pay. Sellers usually add it to the price. Especially, this relates to investors. If you are buying a renovated house, investors have a minimum return on investment they expect to receive. Somebody would say, how about market value? A seller can’t price it higher than the market. About a week ago, I heard a phrase I disagree with. One agent told my friends, who are planning to sell their house, that buyers control the prices, not sellers. Buyers were controlling prices right after the housing market collapsed. But in recent years, the growth rate is, on average, 7%. Yes, buyers want to pay 7% more for the same house than year ago. It is a complex process, and it is not purely controlled by buyers. But in my opinion, sellers have more reasonable price power, especially in growing cities. I am sorry for diving into economics. Again, it is a discussion for another blog. My point was to say that the presence of commission forces sellers to add it to the sale price.
So, let me summarize the great benefits of using Bynsy for buyers:
- Every house is on the market.
- All information about the house is available and accessible initially, including home inspection.
- View a house any time on your own schedule.
- Lower price due to commission elimination.
We wrote a detailed explanation, beyond the topic of what Bynsy does for sellers and for buyers. We are here to change the real estate market, make it more transparent and honest. We believe everyone would benefit from it. Tell your friends about us to support our mission. Share your experience of buying or selling or both on the Bynsy channel. It is very valuable to other people who enter this market as a seller or buyer.
If you still have questions, please email us firstname.lastname@example.org. We promise to answer your email the same day.