Avoid These Gimmicks by Real Estate Agents
Quite often real estate agents are thought of as professionals who are infamous for their lower reputations. Nonetheless it is wrong to attribute a characteristic upon the whole profession for a few peoples’ unprofessionalism. There are many real estate professionals who have been working with skill and expertise and helping their clients to get the most out of buying or selling properties. So, you would necessarily have to develop the sense of ‘who is who’ – that is, on whom you may rely. So, learn common gimmicks made by unscrupulous real estate agents and the way to avoid them.
“Wanna sell your home? I know someone who’s ready to buy.”
No matter whether it’s done over phone or through a letter, this is the oldest trick you can expect to hear from a real estate agent who wants to impress you and have you on his client list. Don’t fall for this trick without proper knowledge – it is right that you want to sell, but selling is not the only thing, you need a market plan as well.
If an agent claims to have a buyer for sure, then you should not proceed unless he can put an offer on the table. An agent without offer means he or she is just trying to establish a rapport with you or your business.
“This is the best deal for you, but it may not last forever.”
A qualified real estate agent will never push you to settle a deal adding some adjectives to a potential property. He or she will rather lend you a hand to get hold of the whole process and direct you to the best available options. Never ever nod to your agent’s pressurization to buy a particular house – it’s a signal that he has been expecting some profit at your expense.
“If nobody buys your house, I will.”
This is a hyperbole often used by real estate agents to assure you, instead of assisting you to see the real picture. And, even if an agent tends to buy the property for real, you must proceed carefully as the offered price could be much lower than the appraised value.
“The price is just perfect and all set to wage a bidding war!”
The best chance for a bidding war is when buyers get into a sheer competition for the same property. In such a case the price often goes up way above the listed one. Many agents and sellers dream about that. However, such a fierce bidding is quite rare. It is not uncommon to see a real estate agent wooing a seller to list his property at a price lesser than its appraised value. So, with this trick there comes a big risk.
When an agent fails on his promised, so called ‘bidding war’, he or she will try to recover it by increasing the price, which experts often refer to as the kiss of death. So, you had better not get yourself in such a trap.
“I’m the best in this field that you ever heard of.”
Everywhere you will find a big-shot real estate agent. His or her portfolio often might include: working in the sector for decades; claiming credit for sealing a vast number of deals; or else, a lot of advertising depicting his face wherever you look. Think it over before you go for the service of such an agent. Isn’t he getting the ‘incumbent advantage’? And, as a result isn’t everyone hiring him? Such an agent usually works through a big team to cope with a numerous listings at the same time. So, it may be that you are feeling relieved to be thinking that you have got the best person to get the job done, when in reality you are actually receiving one of his assistants’ service on his behalf.