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What 'Lies' Ahead



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By : Andy Denton    99 or more times read
The house that you’ve been eying for a long time is certainly a diamond in the rough. So you make sure that you’d take all the necessary steps in purchasing a home properly and legally by seeking the services of a real estate agent. Little do you know that the man that you’ve hired has a few things that he’d be so glad manipulating about. Oftentimes, they don’t run multi-million shady scams but scrupulous tricks to get you into paying for the property that they’re offering.

Here, I’ve divided the lies that some agents are doing into two categories.

First, in terms of their qualifications, some agents fool buyers into thinking that they specialize in one area when in fact they actually don’t. Many are tempted to grab an agent’s offer if he has a way with sweet talk not to mention the amount of (false) information that he gives out about the property’s location.

Some agents also reveal their long experience in the industry but in reality, they’ve only acquired their license a few months ago. Don’t even believe the number of deals that they’ve closed. Some speak about unbelievably high sales stats that would turn any established agent into a novice. Anyone who tells you that they’ve sold more than 12 homes in a year in a tight market should have their records verified if they are indeed top producers.

Some agents would like to think of themselves as industry experts. There’s nothing wrong with that if they are indeed qualified but some cross the line when they act as assessors or financial advisers to their own clients. Their first goal is to sell and their pieces of advice are all leading to this goal, often not to the benefit of the client.

Second, in terms of their practice, some agents have mastered the art of bait-and-switch strategy. Sure it’s a highly competitive industry but there’s no point that these professionals have to employ a success-at-all-cost mindset. For example, some agents would lure a client to come visit a house advertised online. Little does the client know that the actual property is different from the “photoshoped” ad. The agent would tour the client in several below average houses until they arrive at a property that’s far from the previous ones he has shown. The sales pitching begins until the client is convinced that what he’s buying is a prime pick only to find out later that it was not different at all from the rundown houses that he toured before.

Some agents because of lack of industry experience choose to advertise listings of other agents. This is an easy trick to pull off. Once the client agrees to come to a house visit, the agent presents a different house that’s a better alternative and a lot cheaper. In the end, the gullible client pays for a house that he never really wants in the first place.

To avoid these problems, always verify the credibility of an agent. Make sure that he or she is licensed and is a member of a professional realtors’ organization. This can help you check if his or her words speak the truth. Do a lot of background checking by asking people who have done business with the person. In the end, it is you who will benefit from these precautions.
Andy Denton is the COO of Realty.com. Realty.com is a real estate search portal, dedicated to connecting home buyers and sellers to trusting real estate services. Follow the Realty.com blog for up to date housing news and trends. And monitor local mortgage rates at RealtyGadget.com.

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