10 Reasons Your Realtor Will Lie to You
In any occupation where large sums of money are involved, there will be people who use deception and trickery to be successful. Realty is no exception. Some, not all, realtors are going to lie to buyers and sellers alike in order to make those big commissions. Those who do resort to dishonesty certainly have their motives. Here are 10 reasons why your realtor might lie to you:
- One reason a realtor lies is to exaggerate their success as a realtor. They will post misleading info on their websites, for instance, to convince clients that they have more listings and close on more properties than they actually do.
- The actual condition of a home on the market is one of the most common motives for unethical realtors to be less than honest. They will focus on the assets of a property. and glance over problem areas, for the sake of a sale.
- Realtors will sometimes claim that there is another offer pending on a home in order to create a sense of urgency in prospective buyers. When they show the home to someone, realtors want to make them believe that there is a high demand for that property.
- Lying about the stability and attractiveness of a real estate area is another common ploy among dishonest realtors. They will offer glowing praise of the community, school district, crime rates, and available shopping.
- Some realtors will cite inflated property values of surrounding homes. They want to mislead the client into believing that a listed home is a better investment than it really is. It’s always best to look up public records of property assessments.
- You may be lied to about the previous owners as well. You want to know if they were not particularly sanitary or conscientious about maintenance; whether they had any pest control issues, etc.
- Some homes with unsavory pasts might discourage clients from buying them. If, for instance, a house had been the scene of a grisly crime, a family would understandably be apprehensive about calling it home.
- A trick some realtors like to use is to first show a client some unattractive and overpriced homes in an area before unveiling the “pearl” they really want to unload on you. By creating a stark contrast between those first homes and the one they want to sell you, the realtor makes that one look like a dream home.
- “It’s the right time to buy”. While this may be true at a given time, this pitch is always made regardless of the actual market. When a client hears it, their first reaction should be to ask why, and to expect a valid demonstrable explanation.
- Realtors will also claim to a prospective buyer that their commission is paid by the seller. While this is technically true, the price of the home will almost certainly include that commission cost, thus passing the burden onto the buyer.