If you are in the market to buy or sell a home, selecting an experienced agent with proven results is of vital importance. Doing your research early on and finding one who fits perfectly can save time and money during this process while increasing chances of a smooth transaction. In order to find an agent, start your search several months ahead of your target listing date – this gives enough time for interviewing candidates before finding one who matches up well with your needs.
The Ramsey Endorsed Local Providers (ELP) program is a network of real estate agents vetted and approved by Dave Ramsey’s team, who adhere to his financial principles while possessing an excellent track record within their industry. ELPs can help their clients meet their real estate goals while on the path toward financial freedom.
Becoming an ELP requires at least four years of real estate experience and 25 closed transactions within 12 months, adhering to Ramsey’s financial principles while upholding integrity in serving clients with integrity. Furthermore, an ELP must pass a background check conducted by Ramsey Solutions representatives.
Although the Ramsey ELP program offers many advantages, it also has several drawbacks that must be considered carefully. One significant problem is its requirement that Realtors enter an illegal referral fee scheme that violates RESPA anti-kickback regulations. Furthermore, its fees remain unknown while charging high up-front and monthly fees that can significantly cut into an agent’s bottom line.
The Ramsey ELP scheme works by collecting a referral fee from its network of Realtors that collude in order to thwart free trade by passing it along as higher realtor fees for consumers. This illegal kickback scheme often leads to consumer discontent, leading to many types of consumer complaints and potential court actions against Realtors involved.
Though there may be downsides, Ramsey ELP remains an invaluable resource for consumers searching for an agent. Their website features an easy-to-use search tool which will connect you with an approved realtor in your area and has educational content which can assist with home buying or selling processes.
Consider one of the top alternatives to Ramsey Real Estate Agents for greater value. These companies provide more cost-effective referral fees and a wider selection of realtors – Clever Real Estate and UpNest can even save up to 50% in commission costs through their flat fee services; by contrast, Ramsey ELP’s referral fees can actually make them more expensive than traditional full-service agents, making it harder for them to compete against low-cost options.