Listing agents should also be aware that there is a big difference between advertising a lead and advertising a property. Advertising a property specifies the property while advertising a lead does not specify the property. Advertising a Lead is the most annoying form of Anomaly in real estate service.
Let me give you another hypothetical example below.
Advertising a Lead
FOR SALE. House and Lot. Xavierville Village. Accessible via Katipunan Quezon City. Near Ateneo de Manila. PhP 34 M. Contact Broker Michael Jackson REBL 998788 at Tel 7656767.
Advertising a Property
FOR SALE. Residential House and Lot. Quezon City. TCT# T-098789. Newly renovated. #45 George Bush Street, Xavierville Village. Accessible via Katipunan Quezon City. Near Ateneo de Manila, PhP 34 M. Contact Broker Michael Jackson REBL 998788 at Tel 7656767.
Implication if the EBA has an interested buyer
REIBS.com, as an Exclusive Buyer's Agent (EBA), will not attempt to by-pass the agent who advertised example 2 because the property he is listing is SPECIFIC. The EBA will respect the listing agent and will contact the listing agent if the EBA has an interested buyer.
But the advertiser of example 1 did not specify the property for some reason that may be related to "insecurity". The EBA and any other broker will think that the advertiser of example 1 has no right to have exclusivity over ALL houses in Xavierville. Therefore the EBA will first find a way to directly saturate the 234 houses of Xavierville just to find out what house is that lead referring --it would not take a field agent three days to comb the area. This is what I call a "Lead Ad Error" where many traditional listing agents fall into -- it is simply failing to advertise a specific property.
A sub-type anomaly that is under this category is what I call Nice Property Marketing Bait. This tactic is a very unethical, normally done by desperate real estate agents, dealers, and advertisers. The operation is very simple, the bad guy simply advertise a non-existing very cheap property only to bait potential buyers into calling him. When buyers call, the bad guy even sit down and dine and wine at the expense of the potential buyer. In the end, the bad guy makes excuses by saying that the property is already reserved by someone else, and will be introducing another property in his/her listing. This time it's a real property with real price. This kind of modus operandi is just done to fish out and capture potential buyers with a nice property bait.
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