Cincinnati’s ONLY Exclusive Buyer’s Agent

Hello, I’m J David Jones

Broker of FAVOR, REALTORS

And I have GREAT News for YOU

FAVOR REALTORS®

is

 100% on the Buyer’s side, 100% of the Time

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Real Estate Broker Spills The Beans on Buyer’s Agents…

Buying a House? Why Not Use an Exclusive Buyer’s Brokerage?

YOU, the buyer, deserve the services of a professional Buyer’s Agent who uses their time, effort and resources for your best interests. We are different from the traditional real estate company.

Since we only work for Buyers, FAVOR REALTORS® owe Duties of Loyalty, Obedience, Confidentiality, Accounting, Disclosure, Skill, Care, and Diligence exclusively to YOU, the buyer. 

→ NO CONFLICT OF INTEREST- WE ONLY WORK FOR BUYERS

REPRESENT your interests at ALL times. 

EXPAND your home buying choices to include FOR SALE BY OWNERS, NEW CONSTRUCTION, & REALTORS’S LISTINGS

→ POINT OUT  benefits and problems with property even if it means not buying that property

→ STRUCTURE  offer with only the buyer’s interests in mind

→ NEGOTIATE in favor of buyer for best prices and terms.

→ CONDUCT property value study including CMA, Tax Roll, Square Footage, and Inflation Factor.

About FAVOR, REALTORS®

The FAVOR, REALTORS® concept is unique in the Cincinnati residential market, offering EXCLUSIVE BUYER’S BROKERAGE Services. There is no other brokerage in Cincinnati offering to represent buyers exclusively in the purchase of homes.

We work for BUYERS ONLY, never sellers…NO CONFLICT OF INTEREST. You should have your own agent 100% on the buyer’s side, 100% of the time.
Who pays the real estate commission? Traditional wisdom says the seller pays because they agree to pay in the listing agreement. We ask a provocative question. Who brings the money to closing? THE BUYER. Having said that, the commission is paid out of the sale price at closing, pure and simple. There are situations where this is not the case. I fully disclose this in my Consultation. 

J David Jones is the principal broker of FAVOR, REALTORS® and is licensed in Ohio. Licensed as an agent in 1971, Dave has been a trainer and manager in independent and franchise companies. Dave is a GRI (Graduate REALTORS® Institute) and holds a Bachelor’s Degree in Education.

FAVOR, REALTORS® is a member of the Cincinnati Area Board of REALTORS® and Cincinnati MLS. FAVOR is also a member of the OHIO ASSOCIATION OF REALTORS® and the NATIONAL ASSOCIATION OF REALTORS®.

We are also members of the National Association of Exclusive Buyers Agents (NAEBA) FAVOR Holds a real estate brokerage license in Ohio.
FAVOR REALTORS® was formed as an LLC named FAVOR ENTERPRISES LTD DBA FAVOR REALTORS®

OK! So far as I know, I am the ONLY Exclusive Buyers Broker In Cincinnati.

I am the ONLY Exclusive Buyers Broker in the Cincinnati Metro Area. You might say “I see Buyer’s Agents Advertising all the time.”

I’ll explain.

Let’s start with the word BROKER. A Broker is the highest license. You must be a Broker to own a real estate brokerage company. I AM A BROKER. Agents must hold their license under a Principal Broker.

Brokers own all the agency’s relationships between their agents and the public. Agents work almost always as independent contractors or in really rare situations as employees of the brokerage.

Since I started doing Exclusive Buyer Brokerage in November 1997, there are no other brokerages offering EXCLUSIVE BUYER REPRESENTATION.

They all take listings of homes and sign Listing contracts to represent Sellers….and sometimes Buyers.

I DON’T. I ONLY REPRESENT BUYERS.
WHY WOULD YOU WANT TO BUY YOUR HOUSE FROM THE LISTING AGENT OR COMPANY?
WHY WOULD THE LISTING AGENT WANT YOU TO BUY FROM THEM OR THEIR COMPANY...MONEY.

THE COMMISSION

On REALTOR® listings, the seller (“listing side”) and the buyer (“selling side”) are paid from the sale price and most of the time it’s paid from a cooperative commission stated in the MLS. “For Sale Buy Owner” transactions may differ and all commissions are negotiable. 

The listing company offers any agent a co-op commission upon successful closing. BUT, if the listing agent sells a property they have listed themselves, they keep the whole commission. It’s a double dip. They love it. I didn’t. I did it only once. Then I decided I could not do it anymore…This is why home buyers have trusted FAVOR, REALTORS® to help them buy a home since 1997.

I don’t sell houses; Houses sell themselves.

I help you find the right one.

Now, I’ll tell you, the Buyer’s side is more work intensive. I meet with the Buyer for 1-1.5 hour(s) for the initial consultation to teach them all the typical things that happen and in the order that they happen during a real estate purchase. They really like my flowchart (see below) and we get the Agency Disclosure done which is mostly about what I have written here. Then we look at my contract which is very friendly; not legal-ese. Then we talk about your needs and wants.

No Pressure.

You may hire me right then and there but you’re free to go home and read it all again and think it over. There is no cost and no obligation.
If you want to move forward and get Pre-Approved with a Reputable Lender, I’ll help. And then we start the Home Search.

THIS IS A GROUP EFFORT – YOU AND ME – ALL THE WAY TO CLOSING.

We will need to decide what houses to look for. We need to think about the following things:

$

Area(s)

$

Price Range

$

# of Bedrooms

$

# of Bathrooms

$

Type of House (ranch, 2 story, bi. tri. or quad level, cape cod)

$

Basement

$

Garage

$

Gas or Electric HVAC

Here’s the Drill

We set appointments, ½ hour appointments on schedule
Go see house, Throw away NO’s, Keep Maybe’s and Yes’s

Now here’s the way it is folks. There are few houses on the market and if they are still around after a week to 10 days you have to wonder what is wrong with them. Cracked foundations, mold, poor maintenance inside and/or outside, high traffic, OR PRICE. Well, we might be able to deal with a negotiated price if they would have learned that people don’t think their house is worth it.

Here’s the thing.

In current times, houses sell in hours or maybe a day or two when they are nice. And if there are 3-7 backup offers in place waiting to see if the deal will close… Your chances are almost nil. Let’s find another house.

And in many or most cases the offers are for more than asking price. And most of the time, they appraise for the sale price, because the appraiser knows prices have been going up fast. WHY? Because there’s  low  interest  rates and low  inventory and smart buyers are trying to get into a decent home.

So, all but ONE BUYER (the successful buyer) has to move on and find the next opportunity. This is called an (extreme) Seller’s Market.

I have succeeded in getting all but one buyer into a home. The one buyer was high-end where the competition is not as high, so it wasn’t the same scenario as above.

Loan Application

When we contract to buy a house, then you go immediately to the lender and make a formal application for a mortgage and lock in the rate if you want to. Or you can float if you think rates will go down.

Inspections

Then we will get a whole house inspection and any other inspections. Then we negotiate with the seller for any HIDDEN (you could’a, should’a, seen it things are not hidden) and/or MAJOR (not minor) DEFECTS. Defects, not improvements. The seller has no obligation to install a rain cap on a chimney which doesn’t have a rain cap that is defective.

Inspection Agreement

Remove the inspection contingency when we get an agreement with the sellers

The Appraisal is ordered by the lender. No one meets the appraiser. We cannot try to influence the appraiser.

The LOAN is PROCESSING..  Please  supply  everything  the  underwriter  asks  for. You won’t get the loan otherwise.

Loan clear for closing, except for the TITLE SEARCH. You and the lender want the

 Title Clear. The title company searches  the  title  and  the  lien  record  to see if there are any outstanding claims or debts that the seller must pay off out of the proceeds (money) they get at closing. We want a clear, insurable and marketable title. The lender, in your closing costs, will have you buy them a “Lenders Title Insurance Policy” and you can also buy one for yourself. Real Estate taxes are prorated to the day of closing.

CLOSING is a sit down closing with the buyer(s) and seller(s), their agents, and the title representative. If the seller has already moved out of town, the documents can be sent overnight for a notarized signature. Buyer must RECEIVE THE CLOSING STATEMENT to be able to get their funds wired to the title company

WARNING – DO NOT BELIEVE ANYONE WHO CONTACTS YOU TO CHANGE THE WIRING INSTRUCTIONS. CONTACT THE TITLE COMPANY IMMEDIATELY IF ANYONE ATTEMPTS TO CHANGE THE WIRING INSTRUCTIONS.

Millions of dollars have been stolen by thieves changing one digit of the wire # and people send their money to the thief. Be Careful!

Testimonials

“Some people make your day better and some people make your life better. Thanks for being someone who does both. Thanks for your help every step on the way!”

– Dan & Becca

“It was a real pleasure doing business with FAVOR, REALTORS®… professionals who had no hidden agenda and were dealing in our best interest. Plus they saved us money. Highly recommended.”

– Kevin C. and Kim S.

“We cannot speak highly enough of David! My boyfriend and I recently bought our first home and working with Dave made the process so much less stressful! He was always honest and up front with us when it came to navigating the real estate process. In such a quick moving market, he was ready to jump right in and help us get into a home fast. His knowledge and experience absolutely cannot be beat. He’s extremely responsive, and we felt confident the entire process that he had our best interests at heart. He also had great recommendations for other companies to work with when it came to financing, the inspection, and home insurance. We’ve been in our new home for about a month now, and it is the perfect home for us. If you need help buying a home in the Cincinnati area, there is nobody better than Dave at Favor Realtors!”
– Kristen C. & Kyle W.

 

“As a relocating person FAVOR, REALTORS® handled all my matters in a professional manner”

– Keith R.

“FAVOR, REALTORS® did a GREAT JOB!”

– Laurie and Brian M.

”If you are looking for a great buyers broker, look no further than Dave Jones. Dave is everything you would imagine getting from someone who is supposed to work for a buyer. When we bought our home, we had no idea what we were doing as far as the process of buying a house.  Dave helped educate us on what the process is and helped us write an attractive offer on a house that was accepted

the same day which was right before an open house.  Throughout the process,

Dave frequently negotiated several things for us we did not think we could ask for, and helped us receive these items.  Dave ensured that we received a fair deal.

Dave operates with full transparency and integrity.  Dave worked tirelessly for us even after the deal was finished when he met me to give us a notarized statement to help with a legal issue after closing.  Dave is the epitome of a buyers broker, and you won’t find anyone who will work harder for you.”

Mike and Rachel Crenshaw

Home Buying Steps:

(More Details Given at Consultation)

1. Decide to buy a home
2. Call FAVOR, REALTORS®
3. Become a Client – Loyalty for Loyalty – sign “Buyers Agency Agreement”
4. Contact Mortgage Company for pre-approval Reputable lenders only – fee $450-550 for credit check and appraisal
5. Computerized Search – Look at neighborhoods and homes
6. Tour Homes – Select 1-5 favorites and sift out “No’s”
7. Research county tax roll for square footage, assessments, and comparisons (like kind, 1 mile radius, sold within 1 year)
8. Decide on price,  write  CONTRACT  with  CONTINGENCIES  and  EARNEST  MONEY

Contingencies might include:
– House must appraise for sale price
– Whole house inspection
– Termite inspection
– Home warranty
– Financing
– Special seller assistance
– Others to meet your needs

09. Negotiate contract and get ACCEPTANCE
10. Final Loan Application good faith estimate / lock loan rate or float
11. Inspections
12. Negotiate material and hidden defects: Seller to fix, reduce price, money escrowed, accepted as-is, or void contract
13. House Appraisal – House must appraise for sale price or more
14. Borrower Approved – final underwriting and loan cleared for closing
15. Title Search – 40years + one deed back, search liens
16. Set Closing – Lender survey, title company assembles and prepares the closing statement
17. Sit Down Closing – Wire funds, drivers license, insurance policy and receipt
18. Owner’s Title Insurance & Home Warranty?
19. Take Occupancy – It’s yours! – Utilities switched
20. MOVE IN
21. The American Dream Celebration!

About J David Jones and FAVOR REALTORS®

Thank you for reading this whole website. Since you did, I might assume that you are at least a little interested in my unique way of doing real estate sales. Actually, there are a few other EBA (Exclusive Buyers Agency) companies in Ohio. There is one in Dayton and a couple in Columbus. There are several hundred members in our association called NAEBA (National Association of Exclusive Buyers Agents.) That association is about 25 years old. Most are small companies with 1,2 or 5-10 agents. Most agents on the other side don’t want to give up the listing side and as I said before, they love the double dip. It’s legal as long as they disclose and the parties agree, but I don’t see how you can truly serve two masters.

Another thing you should know about me is that I was trained to be an appraiser. I have many more hours of training in appraisals than most other agents. I was given the “Master Senior Appraiser designation certificate” from the appraisal training body. I did some appraising but ultimately was unable to dedicate adequate time to real estate sales and appraisals so I chose to pursue real estate sales instead.

My appraisal training has really helped me in real estate sales. I have only had 1 house that didn’t appraise and we still were able to purchase the house.

Give me a call at my cell # 513-379-1672 or email me at  jdavidjonesRE@gmail.com. I’d love to talk to you and if you agree, we can go to Panera and do the consultation.

By the way, I’m 78 years old. Is that alright with you? If you are young, I will tell you the majority of my clients are young and they like me because I teach them before and throughout the process. I’m a natural teacher and a service person, not a salesperson. And since I don’t have any listings, I’m not trying to sell you any particular house.

I wrote this website myself, then had people help me put it up on the web. I had two years of Journalism in Highschool and I’ve studied marketing, not formally, but looking at other people’s efforts and I hope you’ve enjoyed the long form, straight up information I’ve included here.

I’m not the biggest, prettiest, or youngest, but I have earned some awards from my clients, not on how many sales or how much money I made. Also, I have never, in 49 years, had any reprimand or complaint of any kind from the Board of REALTORS® or the Ohio Division of Real Estate Licensing, nor had any lawsuits.

Thanks,
Dave

J. David Jones
Broker, Favor, REALTORS®

Contact Me

513-379-1672

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