4/2/2023 0 Comments Sneaky ninja real estate![]() They try to steer you into buying their listing Tricks real estate agents play on buyers 5. Keeping your options open helps you evaluate all potential offers to get the best deal. If you’re suspicious, ask the agent for the buyer’s name on the spot to test their response.Įven if a legitimate buyer is interested in your home before it’s listed, there’s no guarantee of a sale. This trick can influence you to list with the agent by thinking you’ll have a quick sale since a buyer is already lined up. They claim they already have a buyer lined up for your propertyĪgents use another sneaky tactic when trying to win your listing by pretending they have a buyer ready to purchase your home. Clever’s free service matches you with top-rated local agents and pre-negotiates a 1.5% listing agent commission rate on your behalf. Realtor commission is completely negotiable, as there’s no law setting a fixed commission rate.Ī discount real estate broker like Clever Real Estate also helps you save on commissions and fees. You also have the freedom to try to negotiate realtor fees to get a lower rate. Make sure you understand what each fee is for and the total cost will be before moving forward.” “To avoid being blindsided by hidden fees,” Martin suggests, “always ask your agent for a breakdown of all the costs involved in selling a property. Others will add fees for services like marketing and 3D tours that may be unnecessary or never provided. Some tricks shady real estate agents play is adding extra, phony fees without a clear explanation. Real estate commissions vary depending on the market but typically range from 5% – 6% of the property’s sale price, split between the buyer’s and seller’s agent. They wrap extra fees into their commission or sell you extras Ask for a record of the agent’s sales, or check yourself if you feel they’re not being honest. You can spot this quickly if you notice an agent frequently refers to their brokerage’s success instead of their own. New agents especially may want to cover their lack of experience by touting their company’s track record. Or, they may make statements about how many homes they’ve sold that are hard to believe, like “I sold 8 houses last month, all above the asking price!” One sneaky trick agents use is embellishing years of experience and track record to win your listing. Real estate agents are hungry to win your business and can stretch the truth when portraying themselves. They misrepresent their experience and track record Find an agent that is straightforward and provides information that helps back up the suggested listing price. The takeaway: if the price sounds too good to be true, it probably is. “You can also ask to see the appraiser’s credentials and check their references to make sure they are qualified.” “To avoid this trap, it’s important to get a second opinion from a qualified appraiser,” he adds. “Some agents inflate the appraised value of a property by using an inexperienced or unqualified appraiser, or by providing the appraiser with inaccurate property information,” says Martin. Shaun Martin, CEO of Denver Home Buyer, has seen this firsthand with inflated pre-listing appraisal values. The agent’s motive is to win the listing by telling you what you want to hear – that your home is worth more than you expect – in hopes of winning your business. For example, it could be a warning sign if your home’s CMA value is far higher than what’s listed on online home value estimators. It analyzes recent, local home sales to guide your pricing strategy and list your home at a reasonable price.īe wary of real estate agents who inflate your home’s value in a CMA. ![]() When you’re preparing to sell your home, good agents provide you with a comparative market analysis (CMA) report. Tricks real estate agents play on sellers 1. ![]() Clever also pre-negotiates a low 1.5% listing agent commission rate. Need an honest, professional real estate agent? Clever Real Estate can match you with top local agents from at no cost. Read on to learn how to avoid working with a shady realtor, and what to do if you’ve already hired one. We spoke to several real estate agents to uncover the eight most common tricks real estate agents play on sellers or buyers, so you know what to watch out for. With more than three million licensed real estate agents, there are bound to be bad agents who play tricks or use shady tactics to win your business or charge you bogus fees. There are bad apples in every profession – real estate included.
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