People often complain about deceitful realtors® who waste their time with false promises. Not all realtors® give false assurances, but like any other profession, a few bad apples exist among realtors®. Sellers should ask a lot of questions to real estate agents. When choosing a real estate agent, thorough background checks should be performed. Being a reputable Real estate agent in Waterloo, Mike Bolger cares for his clients and the reputation of his profession. We want to help you avoid being misled by lying realtors. Let's take a look at some of the most common real estate agent lies to see what you should be on the lookout for. If you notice a realtor® stretching the truth in any of the methods mentioned below, move away and look for another real estate agent.
Pricing Your Property Wrongly to Lure You into Hiring them
Being the homeowner, you tend to overestimate the value of your house at times due to emotional attachment. A realtor® who constantly sells homes knows the market and accurate price estimates for different properties. However, a deceptive realtor may overprice your home to get the contract with you and sell it at a much lower price later. They will set an unreasonable price in the listing, and when no buyer turns around - they tell you to lower the price. When they sell your house, they get the commission, but you miss out on the right price. The wrong price can cause a significant delay in sales and a decline in value. Knowledge of market data plays a vital role in price determination, do not fall for the words of a deceitful realtor.
False Claims of Having Potential Buyers
"I have the perfect buyer for your home!" This is another strategy that deceptive realtors® tell people to get a listing. Having a buyer prior to marketing is almost non-existent. A real estate agent puts your house on the market, does some legwork, and then buyers turn around. House selling can be a long and hectic process without a skilled real estate agent. You need someone you can rely on, someone with the experience and skills to sell your home at the right price. If a realtor claims to have a potential buyer, he might be practising a dual agency role. This will affect your home sale badly because the realtor® will become a neutral party and not work for your goals. He will get paid double, but you will be at a loss because he will neither explain the downsides to you nor argue for your sake.
False Claims Regarding their Expertise
In the real estate business, the experience and skill level of the realtor® matters most. Selling different houses requires unique expertise. Deceptive realtors® try to convince their victims that they are the best in business and can do anything for them. The reality is a bit different significant experience of selling homes similar to yours is vital for the successful sale of your home. For instance, selling luxury homes, waterfront homes, condos or other specific house types have their own challenges and difficulties. If you have a strong feeling an agent specializes in specific property - make sure you ask them to prove it. Request a list of recent sales similar to what you're looking for.
Promises of Guaranteed Sale
Another thing that some real estate agents tell is to get you to list with them. The guaranteed home sale is one of the most well-known deceptive marketing schemes. Agents who use this ruse to persuade you to sign on the dotted line will promise to sell your property in a certain number of days. You'll encounter adverts claiming that anything may be purchased in 60 days. These fraud artists don't notify you that they'll pay tens of thousands of dollars less than the market value for your home.
Social Media and Online Marketing Skills
Online marketing exposes your home to new prospects. Social media is an effective tool in this regard. As it provides helpful ways to market your home. Deceitful realtors exploit this opportunity to make false claims over their social media and online marketing skills. While in reality, they do not have an authentic website, blog or social media account. A skilled and professional real estate agent in Waterloo, like Mike Bolger, has their own social media accounts across various platforms along with a professional blog and website. Having these accounts is not enough if the realtor does not know how to use them effectively. Try and find a Realtor® who can use technology to help the sale of your home.