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Buyer's broker concept catching on in St. Louis. (Focus: Residential Real Estate)

St. Louis Business Journal

| March 23, 1992 | Desloge, Rick | COPYRIGHT 1985 American City Business Journals, Inc. (Hide copyright information)Copyright

After buying four houses in 10 years, George and Kari Prest decided to go the unconventional route and hire a buyer's agent when George's company transferred him to St. Louis from South Dakota last June.

"The key to buying a house is when you get down to negotiation," said George Prest, market manager of Prest Rack Inc., a storage systems manufacturer.

For that negotiation, as well as the overall search for a home, the Prests contracted with Martin Ribaudo, a buyer's agent who also owns the Ribaudo ERA real estate company in Des Peres.

That tactic has been almost unheard of in St. Louis. Typically, real estate agents represent sellers, not buyers.

The Prests say their decision paid off. The couple located a home in the new Arbor Oaks subdivision in Ballwin, and Ribaudo negotiated a favorable deal on the newly constructed house, a home buying field where …

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