Estate Agents’ Tricks

Estate Agents’ Tricks

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Check out common real estate agent tricks before starting to find the perfect one. In this article, we want to talk about dishonest practices that are not beneficial to the seller. Many realtor tricks to sell house only create the appearance of a specialist’s work. In fact, you are forced to agree to less favorable terms. Of course, there are excellent specialists who will help you save a lot. But such a professional must first be found. Before that, find your dream home at https://inewhomes.com/. Now let’s move on to sneaky real estate agent tricks.

Unfair pricing

Realtors do not help for free. For their work, they ask for either a percentage of the transaction, or a fixed amount.

It happens that one realtor receives money for his work from both the seller and the buyer. The seller pays money to the realtor for finding a buyer, and upon signing the purchase and sale agreement, he learns that the buyer also paid the same realtor to find an apartment suitable for him.

Another example is the discount from the seller, which the realtor takes for himself. It works like this:

  • The seller determines the price of the apartment, for example, 3 million rubles.
  • The realtor persuades him for a long time that it is impossible to sell this house for such money. As a result, the seller agrees to lower the price.
  • The realtor is looking for a buyer at the initial price and before the transaction informs the seller that the purchase and sale agreement will still indicate 3 million, but he will take the difference in price for himself. And this is in addition to commissions!
  • The seller may not agree to such conditions, but then he will be left without a buyer.
  • An unsuspecting buyer pays 3 million, although without a realtor the deal would have been cheaper.

Another situation is also possible: the realtor finds a buyer at a price that is higher than the initial one, and takes the difference for himself. In any case, the decision remains with the seller, and in the text of the purchase agreement, the price to which both parties agree will be indicated.

In terms of pricing, it is better to do without intermediaries altogether. But if a realtor does help you, be sure to talk to him and fix all the nuances related to the price in the contract.

The main thing in any situation is not to succumb to provocations and indicate in writing all important questions for you in the contract.

The illusion of active sale and secret bases

How the circuit works. The agent assures the seller that he has his own unique base of potential buyers. To meet your expectations, he can attract a whole crowd of friends or family. They will call and diligently portray potential buyers.

At first glance, such a scheme seems meaningless: why would an agent artificially increase the number of impressions? But it happens that under the contract the realtor is only obliged to help sell, and not to guarantee the result in the form of selling the apartment. Therefore, he maintains his reputation with a large number of calls and receives money for this as a service provided.

You shouldn’t trust realtors who claim to have a huge customer base. A good agent probably has contacts of potential buyers, but this still does not guarantee anything for the apartment owner.

Normal agents regularly report to clients how many ad views and calls were received on their property, as well as how many views eventually took place. They can send full text reports by email or talk about everything during a telephone conversation.

Of course, such reports are not a panacea, the indicators in them can also lie. But an honest agent will always be able to provide something else, such as screenshots of correspondence with potential buyers.

You can also ask the realtor to draw up separate written acts of views, which must be filled out and signed by a potential buyer. Ten acts, filled by different people, even visually will look different – cheating here is already much more difficult.

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