|
|
|
This is where we announce the most recent additions to our web site and
company. If you've visited us before and want to know what's changed,
take a look here first.
|
|
THE
BUYER'S AGENT Ranked In The "Franchise Gold 200" By Success Magazine:
(Memphis,
Tennessee - October 18, 2000) -- THE BUYER'S AGENT, INC. is one of the
top 200 franchises, as ranked by Success Magazine in its October issue.
Earlier
this year, SUCCESS Magazine hired an independent marketing and research
firm to compile information on U.S. franchisors to determine the "Franchise
Gold 200." Franchisors were evaluated based on their financial performance,
corporate management, growth and stability, quality of support given to
new franchisees and opportunities for growth. You may view the Franchise
Gold 200 rankings at http://www.succesagazine.com/10_00stories/fg200/111_150.htm.
"We are very proud to be selected, once again, as one of the top 200 franchises
in the country," said President and founder Tom Hathaway. He added, "We
are committed to helping our franchisees become more successful by providing
a strong operational program and valuable franchise support. Just this
past year, we developed and implemented even more dynamic new programs
to help our franchisees attract new clients."
THE BUYER'S AGENT, INC. is the nation's leading franchisor of real estate
brokerages that specialize in exclusive buyer representation. Based in
Memphis, TN since 1988, the franchisor offers the most complete and technically
advanced office management system with assistance in office setup, recruiting,
training, marketing, and daily operations.
|
|
Freddie
Mac Agrees To Buy Mortgages From First Ever Mortgage Cooperative
SouthMor Mortgage
Corporation announced today that Freddie Mac has accepted it as a provider
of first mortgage loans. Headquartered in Memphis, TN, SouthMor
was initially owned by Tom and Donna Hathaway. Franchisees of THE
BUYER'S AGENT bought the company in April of this year, making it the
first ever franchisee-owned mortgage cooperative in the United States.
SouthMor's mission
is to provide highly discounted mortgage loans to clients of THE BUYER'S
AGENT. It will make loans to non-clients, but rates may vary based
on whether the borrower uses one of THE BUYER'S AGENT franchisees to purchase
a home or uses a competitor. Non-clients will pay rates competitive
with the local market and profits from those loans will be paid to the
stockholders in the form of dividends, but SouthMor pledges not to profit
from loans made to clients of THE BUYER'S AGENT network.
According to Dawn
Davis, Executive Vice President of SouthMor, SouthMor can provide mortgages
in 42 states. Davis said, “We are able to provide mortgage loans
to more than 85% of the people in the United States and we plan to increase
that to 100%. Applications are currently pending in several of the
remaining states.”
Ms. Davis continued,
“The mortgage industry is quickly learning there are definite advantages
of lending money to a homebuyer who has received true exclusive buyer
representation.” According to Davis, in one sense the buyer
and lender are partners in the home buying process. Initially, the
buyer usually has a 5% or 10% stake in the property while the lender has
a 90% or 95% stake. Since what is good for the buyer is also good
for the lender, having an agent who truly represents the buyer in the
home buying process makes perfect sense for the lender.
Franchisees of THE
BUYER'S AGENT are proud of the amount of money they help their clients
save. A recent decision by the Oklahoma Supreme Court agreed that
franchisees of THE BUYER'S AGENT could offer more complete representation
to home buyers than agents who represent sellers and that they had saved
their clients thousands of dollars. According to Tom Hathaway, SouthMor
Mortgage Corporation will allow the franchisees to increase savings for
their home-buying clients significantly. To date, the franchisees
have saved their clients more than 85 million dollars nationwide.
Hathaway says, “All
of this has value to the lender and the investor. Nothing is more
important to the ultimate investor than the buyer's ability and willingness
to repay the loan. Our 12 years experience representing buyers exclusively
using our 26-step program has shown that our clients have a far aller
default rate than the general borrowing public. This is due largely
to the superior work our franchisees do representing the home buyer's
best interest. Because of this, we believe the market will drive
rates and costs even lower for those who receive true exclusive buyer
representation.”
|
|
And
Yet Another Way THE BUYER’S AGENT Franchisees Can Help Home Buyers Save
Money …
[MEMPHIS, April 13,
2000] Today, franchise owners of THE BUYER’S AGENT purchased controlling
interest in SouthMor Mortgage Corporation for an undisclosed amount of
money. SouthMor Mortgage is a 4 year-old mortgage brokerage concern
headquartered in Memphis, TN and is currently licensed in 16 states.
President of THE BUYER’S
AGENT, INC. exclusive buyer brokerage franchiser, Tom Hathaway, remarked
“The purchase of SouthMor Mortgage will create a new dimension in both
the real estate and mortgage lending industries.”
Dawn Davis, an experienced
Director of Mortgage Operations, will begin managing SouthMor’s daily
operations on May 1. Among her many accomplishments, Ms. Davis has
increased operations for other lenders from $1 million a month to over
$20 million a month.
SouthMor Mortgage
Corporation plans to offer a distinctive three tiered pricing for mortgage
loans. The first tier rate will be for home-buyers who purchase
their homes through a franchisee of THE BUYER’S AGENT, INC. These
loans will have an exceptionally low interest rate with no origination
fees and little, if any, lender fees. The second tier rate will
be offered to other buyers and will be very competitive, but not as economical
as the first tier rate. Normal retail rates will also be available.
Mr. Hathaway explained,
“It will be just like when a buyer drives into a new subdivision where
the builder has arranged for special financing. The only difference
is that when buyers walk into one of THE BUYER’S AGENT franchise offices,
they will receive a special rate if they buy a home through that office.”
For twelve years, THE
BUYER’S AGENT has worked to help its home-buying clients save money.
Creating this special mortgage rate for their clients is just the latest
effort to increase clients’ savings on their home purchases. Nationwide,
THE BUYER’S AGENT has helped its clients save more than $107,887,760.30. |
|
Entrepreneur
Magazine's Franchise 500 Ranks THE BUYER'S AGENT
THE
BUYER'S AGENT Rates As The Top Franchise In Exclusive Buyer Agency Real
Estate Services
MEMPHIS
-- Dec. 20, 1999 – Once again, THE BUYER'S AGENT has been ranked
as one of the world's top franchisors on Entrepreneur Magazine's Franchise
500® list. Entrepreneur's Franchise 500 listing appears in January issue
and rates franchises in terms of financial stability, strength, growth
rate as well as the number of years in operation and start-up costs to
name a few factors. The same criteria are used to rank all the companies
on the Franchise 500 listing.
``We
believe that our accomplishment as a franchisor is a direct result of
the achievements of each of our franchisees in their local markets,''
said Tom Hathaway, president of THE BUYER'S AGENT, INC. ``In any franchise
organization, the key to success is communication. Through steady involvement
with our franchisees, our offices have achieved the consistency in operations
that consumers readily identify with the name, THE BUYER'S AGENT.''
THE
BUYER'S AGENT, founded in 1988, is the world's largest exclusive buyer
brokerage real estate chain with offices in over 60 cities nationwide.
By not listing homes for sale, the franchisees are able to provide full
counsel and representation to home purchasers and to help them save time
and money on their home purchases.
For
more information on THE BUYER'S AGENT, contact Tom Hathaway at 1-800-766-8728
|
|
Press
Release: Oklahoma Supreme Court Denies Rehearing to State's Real
Estate Commission
(OKLAHOMA
CITY) - On September 16, 1999, the Supreme Court of Oklahoma denied the
Oklahoma Real Estate Commission's petition for a rehearing in the case
of Snider v. Oklahoma Real Estate Commission. This denial ends a long
battle over a $200 fine assessed against Kenny Snider, franchise owner
of The Buyer's Agent in Woodward, Oklahoma, for alleged false and misleading
advertising.
In the
11-page opinion issued on June, 1, 1999, the Oklahoma Supreme Court criticized
both dual agency and the Oklahoma Real Estate Commission. The court ruled
not only that The Buyer's Agent exclusive buyer brokerage franchise has
proven it saves money for home buyers, but also that the Commission did
not know how to read its own laws.
The Commission
had claimed that advertising material, published by The Buyer's Agent,
Inc., based in Memphis, TN, was false and misleading because it stated
the franchise offices "saved buyers thousands of dollars" and
because it contained a warning to home buyers that real estate licensees,
other than exclusive buyer agent, may give home buyers less than full
representation. The high court found that The Buyer's Agent had adequately
proven -- with consumer affidavits signed by home buying clients -- that
its service had saved homebuyers thousands of dollars.
The Oklahoma
Supreme Court also found "...that the statement in the booklet for
which the appellant was sanctioned is neither false nor misleading. Sellers'
agents and dual agents do not and cannot by law give a buyer the same
degree of loyalty as an agent who acts on behalf of a buyer. ... A buyer
who relies on the seller's agent or on dual agency does not receive the
same degree of legal protection as that afforded by an agent acting solely
on behalf of the buyer. Accordingly, we find that the order of the Oklahoma
Real Estate Commission is clearly erroneous, contrary to its own rule,
and without evidentiary support and must be set aside."
The Buyer's
Agent, Inc., founded in 1988 by Tom Hathaway in Memphis, TN, was the first
company to franchise real estate companies that practice exclusive buyer
brokerage. It began as a single office operating in Memphis, TN and has
expanded into markets nationwide. Franchise offices of The Buyer's Agent
offer professional real estate services exclusively to home buyers. To
contact the company, please call 1-800-766-8728.
Back
to Top 
|
|
Press
Release: Oklahoma Court Decries Dual Agency, Upholds Exclusive Buyer
Agent Advertising Claims
(OKLAHOMA
CITY) -- The Oklahoma Supreme Court issued a decision slamming both dual
agency and the Oklahoma Real Estate Commission. The court ruled not only
that The Buyer's Agent exclusive buyer brokerage franchise has proven
it saves money for home buyers, but also that the Commission did not know
how to read its own laws.
The exclusive
buyer brokerage victory came after a Commission investigation of The Buyer's
Agent franchise owner Kenneth Snider of Woodward, Oklahoma. The Commission
claimed that advertising material, published by The Buyer's Agent, Inc.
based in Memphis, TN, was false and misleading because it stated the franchise
offices "saved buyers thousands of dollars" and because it contained
this warning to home buyers:
"Beware
of any agent who mentions the words 'dual agent,' 'assigned agent,' 'contract
broker,' 'facilitator,' 'transaction broker,' or 'designated agent.' These
are all methods of conducting real estate transactions which give the
buyer less than full representation."
The Oklahoma
Real Estate Commission determined that the statement was false and misleading
"on its face" and fined Snider $200. Mr. Snider, with the support
of The Buyer's Agent, Inc., appealed the Commission's decision to the
District Court of Woodward County Oklahoma, asking that the decision be
reversed. The District Court held in favor of the Commission, ruling on
the issue of savings. The Commission also prevailed in the Civil Court
of Appeals, but the Oklahoma Supreme Court took the case, reversed the
lower courts, and admonished the Oklahoma Real Estate Commission. The
high court found that The Buyer's Agent had adequately proven -- with
consumer affidavits signed by home buying clients -- that its service
had saved homebuyers thousands of dollars.
The Oklahoma
Supreme Court also found "...that the statement in the booklet for
which the appellant was sanctioned is neither false nor misleading. Sellers'
agents and dual agents do not and cannot by law give a buyer the same
degree of loyalty as an agent who acts on behalf of a buyer. ... A buyer
who relies on the seller's agent or on dual agency does not receive the
same degree of legal protection as that afforded by an agent acting solely
on behalf of the buyer. Accordingly, we find that the order of the Oklahoma
Real Estate Commission is clearly erroneous, contrary to its own rule,
and without evidentiary support and must be set aside."
The Buyer's
Agent, Inc. President, Tom Hathaway in Memphis, praised the court decision
and proclaimed the ruling "important for consumers and for all exclusive
buyer agents." "This validates the concept of agency representation
at a time when the industry is trying to minimize and eliminate that concept
all together."
When
asked for a comment by the Real Estate Intelligence Report, Norris Price,
executive director of the Oklahoma Real Estate Commission, said the commission
had not yet received a copy of the decision and declined comment until
the ruling could be reviewed.
The Buyer's
Agent, Inc., founded in 1988 by Tom Hathaway in Memphis, TN, was the first
company to franchise real estate companies that practice exclusive buyer
brokerage. It began as a single office operating in Memphis, TN and has
expanded into markets nationwide. Franchise offices of The Buyer's Agent
offer professional real estate services exclusively to home buyers. To
contact the company, please call 1-800-766-8728.
Back
to Top
|
|
Press
Release: FRANCHISEE SATISFACTION SURVEY RANKS THE BUYER'S AGENT
(Memphis,
TN) - In its April, 1999 edition, Success Magazine released the results
of its first Franchisee Satisfaction Survey. To measure the franchisees'
satisfaction, Erdos and Morgan, an independent marketing research company,
called at least ten franchisees from each of the Franchise Gold 100 companies.
The franchisees responded to a series of statements, concerning everything
from financial returns of their franchises to the support their franchisors
gave them, and ranked them on a scale of one to five. Five stars was the
highest rating a franchisor could receive in any category.
THE BUYER'S
AGENT received four stars for its overall franchisee satisfaction, four
stars for its franchisees' financial satisfaction, and five stars for
the quality of training. President and founder, Tom Hathaway, was very
proud of the "excellent" ranking.
THE BUYER'S
AGENT, INC. is the nation's leading franchisor specializing in exclusive
buyer representation. The company offers the most complete and technically
advanced office management system with assistance in office setup, recruiting,
training, marketing, and daily operations. For more information, please
call 1-800-766-8728.
Back
to Top
|
|
Press
Release: THE BUYER'S AGENT ranked in the 1999 Platinum Franchises
by Income Opportunites Magazine:
(Memphis,
Tennessee - April 6, 1999)
THE BUYER'S
AGENT, INC. is proud to announce that it has been named as one of Income
Opportunities 1999 Platinum Franchises. The ranking was released in the
magazine's March 1999 edition.
The article
lists the Top 100 franchise companies in order according to criteria such
as their relationships with franchisees, growth of the franchise, efforts
to communicate with and support franchisees, company stability and the
initial investment it takes to start a franchise. THE BUYER'S AGENT was
listed as number 65 out of the top 100.
"We
are very honored to have been selected as one of the top one hundred franchises
in the country once again" said Tom Hathaway, President and Founder.
He added, "We are continuing to work hard to address the needs of
our franchisees and to develop programs that help them become more successful."
THE BUYER'S
AGENT INC. is the nation's leading franchisor specializing in exclusive
buyer representation of home buyers. The company offers the most complete
and technically advanced office management system with assistance in office
setup, recruiting, training, marketing, and daily operations.
Please
see our ranking at http://www.incomeops.com/platinum/THEBUYERSA2990690351.html
Back
to Top
|
|
Press
Release: The Buyer’s Agent ranked in the "Ten
Top Low-Cost Franchises"
by Success Magazine:
(Memphis, Tennessee
– December 8, 1998)
The Buyer’s Agent,
Inc. is proud to announce that it has been named as one of Success Magazine’s
"Top Ten Low-Cost Franchises." The ranking was released in the
magazine’s December 1998 edition.
The article, focusing
on franchises with start-up costs under $35,000, advises potential franchise
purchasers "to search out value." As an example of value investing,
the story quotes Jim DiMarzo, owner of The Buyer’s Agent,
DiMarzo Realty, Inc. in Vero Beach, Florida, "I’ve taken my
business to a new level – and it cost me almost nothing." The
magazine also recognized this franchisor’s strong relationship with
its franchisees, on-going training program, and long-term growth plan.
"We are very
honored to have been selected as one of the top ten low-cost franchises
in the country, in addition to having been selected as one of the top
100 franchises in the country last month," said Ryan Bradley, Vice
President of Franchise Operations. He added, "We have worked hard
to address the needs of our franchisees and to help them become more successful."
The Buyer’s Agent
Inc. is the nation’s leading franchisor specializing in exclusive
buyer representation. The company offers the most complete and technically
advanced office management system with assistance in office setup, recruiting,
training, marketing, and daily operations.
Back
to Top
|
|
Press
Release: The Buyer’s Agent ranked in the "Franchise
Gold 100" by Success Magazine:
(Memphis, Tennessee
– September 22, 1998)
The Buyer’s Agent,
Inc. is proud to announce that it has been ranked #40 in Success Magazine’s
"Franchise Gold 100" released in the magazine’s November
1998 edition.
This year, the magazine
used its most rigorous standards to position the top 100 franchisors out
of the more than 2,000 franchisors operating nationwide. Those standards
include financial performance; corporate management, growth, and stability;
the quality of support given to new and existing franchisees; and opportunities
to buy additional units at a good price. Franchisors submitted legal and
financial disclosure documents, which were reviewed by a legal team, an
accountant, and an independent marketing and research firm.
"We are very
proud to be selected as one of the top 100 franchises in the country,"
said President and founder Tom Hathaway. He added, "In the past decade,
we have worked hard not only promoting exclusive buyer agency, but also
building a strong operational program to help our franchisees become more
successful."
The Buyer’s Agent
Inc. is the nation’s leading franchisor specializing in exclusive
buyer representation. The company offers the most complete and technically
advanced office management system with assistance in office setup, recruiting,
training, marketing, and daily operations.
Back
to Top
|
|
|
