Just like every other profession, the real estate industry also has its fair share of unscrupulous practitioners. Indeed, if you are buying or selling a property for the first time, it’s important to learn some common tricks realtors deploy to arouse your interest and seal a sale deal with you. Below are some of them.
Realtor claims to already have a buyer
Often, most realtors will tell you that they have a buyer for your property. The strategy behind this is to list your home with them. This is the question you need to ask yourself – if indeed they have a real buyer for your home, then why do they need you to list your home with them?
Without batting an eyelid, realtors will tell a potential seller they would fetch you some unrealistically high price selling your home in order to get the listing. Indeed, everything any seller wants to hear. Woe unto you if you go ahead and sign some contract with the. After some time, without finding a buyer, the agent comes back with lots of excuses. For instance, they would say that the market has gone soft and that the price must come down. It’s advisable to seek a second opinion and set the correct price of your home.
Numerous phony low bid offers
Often, an agent would have fellow co-workers, friends or relatives to write fake offer from a non-existence buyers. After successive price reductions and your home sitting in the market for a long time, buyers will conclude your home has some shortcomings. Please note buyers are not that dumb.
Calculating advertising efforts
Realtors cash on advertising to promote themselves. Apparently, every realtor in town has the best marketing agenda around. However, once the listing is done, soon all representation is soon forgotten. Always get to the bottom of their marketing plans.
Under normal circumstances, realtors are supposed to disclose material events about a property but will steer clear of any full disclosure. This adversely affects people who are ignorant of their surrounding and what actually happens around. For instance, you may buy a home that was formerly used for weird of lurid activities, only to learn of it once you acquire it. Selling it again becomes a challenge and don’t be surprised if the same agent who sold you the property is not willing to sell the home if so wish to sell it back.
There you got five really nasty tactics that get applied every day by some of the most rutheless realtors in this country. Now you are warned, so be careful.