Lies Agents Will Tell Buyers

Lies Agents Will Tell Buyers. There’s nothing more appealing to a real estate agent than healthy competition, and when there’s competition, there’s always chance for a nice fat pay cheque. Money bags aside, the hungry real estate agent is always eager to inflate his reputation and grow his name in the neighbourhood. So when you have one person’s job to get a great sale onto his track record competing with your personal agenda to land a great home at an affordable price, how do you demystify fact from fiction? In other words, what are the biggest fibs that agents will tell buyers?

“We have another buyer”

This is often an easily dropped line to instil fear that you will lose your desired property. What the real estate agent is trying to convince you of is that there is a sense of urgency in your bid, and if you stall then you might lose any chance you have. Don’t throw yourself into panic mode and blow your budget in order to attain the house of your dreams. Find out for sure if there’s another buyer in sight.

“The vendor wants to seal the deal by tonight”

No way is this the case! The seller will always be looking for a higher value and won’t protest a late night negotiation. Unless for a highly unlikely circumstance that they need to sell immediately, rushing into a decision can be a tactic of a cunning real estate artiste.

“Our vendor is a genuine seller”

Sometimes a real estate agent might like to throw out this line to potential buyers. What does it garner? Well, everyone’s intent is to sell their property if they are in such a situation – that is why they have put it on the market. This real estate agent could be trying to capitalise on your emotions, by putting yourself in the seller’s shoes. A purchase of a house is a transactional process, so remembering to think with your head instead of relying solely on your heart will help you retain some perspective during your potential property purchase. Lies Agents Will Tell Buyers.

“We already have a higher offer”

Are you sure they do? Once again, be aware that this may be stretching the truth to encourage you to increase your offer. On the other hand, an agent is not allowed under Queensland law to disclose the amount or conditions of another offer they may be holding, just as they cannot disclose the details of your offer to another competing buyer. And, if there are two or more offers on the table at once, each prospective buyer should be asked to complete a multiple offer form, acknowledging their knowledge of the existence of other offers. Lies Agents Will Tell Buyers.

“The sellers are very sad to sell their house”

Of course they are – unless it is falling apart! Often real estate agents again like to pull on the emotional heart strings, so you are reminded of the memories you can create within a house that was previously someone else’s. If, however, you observe an urgency that the owners need to sell, pounce on this opportunity! Lies Agents Will Tell Buyers.

It’s already a minefield, trying to decipher what is and isn’t fact in the real estate world, but arming yourself with knowledge of  these tried and true fibs of the dodgier agents out there you can be better informed and more assured of your decisions in pursuing property.

Get in touch with the experts in Brisbane real estate that you can trust! Contact the Hicks Real Estate team today, or call us on 07 3355 6845.