Do Real Estate Agents Lie?
Real Estate is an interesting industry; while it’s regulated by both state and national committees; real estate agents are considered to be working as “Independent Contractors” or self-employed agents. With that being said, you can find a wide range of agents, from laid back and fun, to the more serious and professional. You will also find that some agents are more honest, dependable and hard-working than others. Some agents are great and always looking out for your best interest, while others will have some questionable sales tactics. So what are the most common lies a real estate agent may tell you?
The Sellers Aren’t Very Motivated – Experts estimated that about six out of 10 properties are actually sold under distress. Often times, a seller is under pressure to move because of a divorce, job relocation or in need of the money. If you flat out ask an Agent why the property is for sale, they may be hesitant to disclose the real reason, so asking less direct questions about where the seller will be moving may be a better way to piece together the answer.
There’s Another Buyer – Agents use this tactic all too often to help motivate a buyer and close a deal more quickly. There could be other buyers interested, or even multiple offers on a property, the Listing Agent does not need to disclose this information to your Buyer’s Agent. Furthermore, if your Buyer’s Agent is also hoping to pressure you into making an offer, they may insinuate that another buyer is right around the corner ready to buy your place out from under you. Be straightforward with your Agent; ask him directly if he truly believes there is another buyer and more importantly, evaluate whether getting into a “bidding war” is something you’re ready for.
The Seller Won’t Accept a Low Offer – Most Agents don’t like submitting a “low-ball” offer, they feel like it’s a bad representation of their skills. While an Agent may advise you that your price is too low, they are obligated to present every offer to the Seller’s Agent (who is also legally obligated to submit it to the Seller). While many Agents will say things like “You will offend the Seller with that offer,” if it’s an offer you feel comfortable with, and you truly think the Seller may be willing to counter, then don’t let any Agent tell you it’s too low or that they won’t submit it.
For more information on Denver Colorado homes for sale, or to contact a reputable and experienced Agent, please visit us at Porchlight.com.
About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit porchlightgroup.com
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