The Better Business Bureau, or BBB, was established in 1912 in effort to create a marketplace where consumers can find “businesses, brands, and charities that they can trust.” Their “mission is to be the leader in advancing marketplace trust. [They] do this by: Setting Standards for marketplace trust; Encouraging and supporting best practices by engaging with and educating consumers and businesses; Celebrating marketplace role models; Calling out and addressing substandard marketplace behavior; [and] Creating a community of trustworthy businesses and charities.”
Businesses nationwide pursue a BBB accreditation. Not only does it establish their trust with their consumers, but also encourages honest business practices in their established field. In order for a business to qualify for a BBB accreditation they must meet the following standards: build trust, advertise honestly, tell the truth, be transparent, be responsive, safeguard privacy, and embody integrity.
As a consumer, you may be reading this and thinking, ‘I thought that all businesses would practice these standards.’ Unfortunately, that is not true. According to the Association of Certified Fraud Examiners (ACFE) 2018 reports, frequency of small businesses fraud is at 28% and frequency of fraud in larger organizations is at 22–26%. This means that a quarter of businesses nationwide are anticipated to have some element of fraud, whether it is billing schemes, check tampering, financial statement fraud, or any of the other schemes reported annually. Because of these statistics and the relevancy of fraud, companies who are BBB accredited are those that should be most trusted in your community.
However, the BBB also rates each business depending on the “BBB’s opinion of how the business is likely to interact with its customers.” Businesses, once accredited, can receive a letter grading (A+, A, A-, B+, B, B-, C+, C, C-, D+, D, D-, or F); these ratings are impacted by the businesses: complaint history with BBB, type of business, time in business, transparent business practices, failure to honor commitment to BBB, licensing and government actions known to BBB, and advertising issues known to BBB.
As you can see, the qualifications and assessments of each business that is recorded into the BBB database must meet a rigid set of standards, as well as maintain those standards through their business practices. Although this process may be lengthy and comprehensive for each business independently, the BBB provides an opportunistic platform for consumers to ensure that their contracted businesses are ethical and honest.
BBB Accreditation in Real Estate: To the Homeowners
If you are a client in the real estate business, it is even more important that you work solely with a BBB accredited company. It is no secret, but selling your home can be quite stressful. If you have ever entertained the idea of selling, you most likely received numerous offers from agents in your local area, proposing the best representation in your market. However, how are you as a homeowner supposed to know the details about each offered source of representation? Outside of friends and family members making recommendations, there is no adequate process to vet each agent or home buyer. This is why selecting a BBB accredited company can be most beneficial.
Gulf State Homebuyers, A BBB Accredited All-Cash Home Buying Company
We here at Gulf State Homebuyers are a BBB accredited company with an A+ rating. We have been accredited since February 19th, 2014.
What does this mean?
We have been through a rigorous review and have met and maintained all standards by the BBB.
How Does this Benefit You, The Homeowner?
Selling your home through an all-cash buyer can be a very speedy process. Take our sales for example – we can close a home within five days. This expedited sale can often make home owners nervous, as they often feel they do not have adequate time to complete their due diligence. However, since we are BBB accredited with an A+ rating, we remove the uncertainty in the transactions. Every client we work with can be guaranteed that we stick to our standards. And even more importantly, if there is a problem, we are by our client’s side immediately to help them resolve the issue.
Our standing is extremely important to use. Not only does it help us maintain a positive reputation in the industry, but in the community as well. We will go above and beyond to ensure the satisfaction of our customers.
To review our accreditation, visit the BBB site here. To view our services, visit our website. To get a consultation, contact us today and we will set you up with one of our staff immediately. Remember, consultations are free – we will educate you on the market and our process, as well as provide you a FREE valuation of your home.