Estate agents are likely to lie or Fudge the details about their own credentials, cost, and condition of the property and the amount of interest in the property. To get a listing, a real estate agent could also falsely say that she already has a buyer for the property.
If you buy or sell real estate, when trying to select a real estate agent, consider the amount of experience the agent, the number of listings that he or she and his or her specialty. The agent may stretch the truth or outright lie about these issues, so before you choose an agent, check the facts.
Incorrect or misleading descriptions of property
Real estate agents make money when they sell the property, so in order to activate the property they have listed, they tend to use language that makes it as attractive as possible to potential buyers – even if what they say is not quite true. Sometimes agents have not even seen the property for themselves and just rely on information from tax assessments to prepare the lists. Add some verbiage on the ads such as “BATVAI,” meaning “buyer’s agent to verify all information,” and “IDRBNG”, which means “information deemed reliable but not guaranteed.” It places the responsibility for the accuracy of the listing information on the buyer and his agent, not an estate agent.
Be sure to look carefully at any property, and ask a lot of questions before putting in an offer. A home inspection by a certified inspector can detect issues that you can’t see yourself and gives you the opportunity to ask certain repairs made before the sale is completed.
The Inflated Cost Of Real Estate
It is no secret that homeowners want to make as much money as possible when they sell their homes. To ensure listing, real estate agents can assign inflated values to properties, talking to potential sellers, their properties are worth more than they really are. To determine whether or not an agent gives you the actual price, check the latest sales prices similar properties in your area or to find assessment appraised value.
Real estate agents may try to entice property owners to list with them, insisting that they have the perfect buyer for their property. Asking the name of the potential buyer puts an agent on the spot. Beware of any hesitation or negative body language exhibited by the agent when replying.
For the most part, real estate agents, honest, hardworking people who are doing everything possible to sell the property to their clients at a fair price, but it is still a good idea to watch for these signs that the agent may be lying.
(For associated reading, see “buying a home: find an agent.”)