Lisa and Jim's Northern Nevada Real Estate Blog: Beware! ... Some The Oldest Tricks In The Real Estate Book

Beware! ... Some The Oldest Tricks In The Real Estate Book

Beware! ... Some The Oldest Tricks In The Real Estate Book

Every profession has its tricks. We’re not talking about tricks to make things smoother, rather the tricks that prey on the unsuspecting public.  The Real Estate Profession is no different, in fact is renown for having a plethora of unscrupulous people taking advantage of the good name made by the hardworking honest Professional Real Estate Agents. The amazing thing about tricky people is that they seem to use the same old tricks and the public continues to fall for it.  Here are some of “The Oldest Tricks In The Real Estate Book”

Beware! ... Some The Oldest Tricks In The Real Estate Book “If you list with me I have a Buyer for your home.”  Does that Agent not have a Buyer if they don’t list with her?  What does that tell you about the Agent?  If she truly had a Buyer that she thought the home was perfect for wouldn’t she show it to the Buyer because it is the right home for them?  By not showing them the home for her own personal reasons is she really working for that Buyer?  The reality is that 99.9% of the time there is no Buyer, just an empty promise.

Occasionally an Agent will say he can sell your home for much more than anybody else says they can, another old trick.  This sounds great of course, more money.  The problem is that market is what market is.  Though some Agents get consistently higher prices for properties than others due to skill we aren’t talking about that here.  We are addressing the situation where one Agent will list the property $50,000 more than everybody else said it was worth. 

What follows one of three things:


1. He works you over week after week to get a price reduction until you eventually get to the price point where it will sell… having lost a lot of time and even money if you end up following the market down during the lost time.

2.  The property doesn’t sell and you have to start over with a new agent only your property is now shop-worn.

3. The property sells, but won’t appraise for the new Buyer. You end up capitulating on the price and you’ll never know if the Agent that listed too high spoke behind your back to manufacture the sale situation.

Buyers can get duped by only being shown select homes.  The trick here is to show a high priced listing to compare the home he is going to sell them to… often the Agent’s own listing.  This is harder to do these days with the amount of information on the Internet, but it is still something to be aware of.  If truly working for the Buyer the Agent will present everything that meets the Buyer’s criteria regardless of who the Listing Agent or Seller is.

Our Advice: The oldest tricks are still used because they work.  There are many consumer protection laws but it is hard to prove that you were duped by a tricky unscrupulous Agent so it is best to be aware.  The facts are what they are – no glossy talk will change reality. Don’t let the strength of your desires cloud your reasoning.  You should have enough information to make an informed decision, not an emotional reaction. Don’t believe someone can accomplish something that the industry can’t – they can’t either.  This doesn’t include specialty properties or insight, but that must be specifically explained. A professional Agent will help you understand
Beware! ... Some The Oldest Tricks In The Real Estate Book what and why they said something so you get a true perspective and understanding of the market and how you fit in.  Tricky Agents are few, the vast majority of Agents being very professional. 

Professional Agents work hard for you to accomplish your goals without chicanery, or tricks.

Beware! ... Some The Oldest Tricks In The Real Estate Book



 

When it comes to choosing professionals to assist you with your real estate needs ... Experience is Priceless! Lisa Wetzel and Jim Valentine, CDPE, SFR, RE/MAX Realty Affiliates, 775-781-5472 carsonvalleyland@hotmail.com, www.carsonvalleyland.com


Here are a few of our blog posts ... please enjoy!

 


 

Lisa Wetzel and Jim Valentine are the authors of this blog.  Lisa, Jim and Jessie are experts in Carson Valley , Carson City and the tri-county area of Douglas County, Carson City and Lyon County. Call our team anytime at 775-781-5472 or 775-781-3704.  To Search for Homes go to: Carson Valley Listing Book or visit our website at www.CarsonValleyLand.com

Comment balloon 6 commentsLisa Wetzel • October 26 2011 07:57PM

Comments

Lisa - well written!   Best, G

Posted by Gay E. Rosen, As Real as Real Estate Gets! (Julia B. Fee Sotheby's International Realty) almost 7 years ago

Lisa, Excellent post.  And what is amazing is how many Buyers and Sellers fall for these tricks.

Posted by Gary Coles (International Referrals), Latin America Real Estate (Venture Realty International) almost 7 years ago

Lisa it's the time of year for tricks - and sadly these trickes are used all year round by a few.  Great post.

Posted by Anna Banana Kruchten CRB, CRS 602-380-4886, Arizona's Top Banana! (Phoenix Property Shoppe) almost 7 years ago

Gay ... Thanks, glad you enjoyed it.

Gary ... It is amazing!

Anna ... It is sad but true!

Posted by Lisa Wetzel, CDPE, SFR carsonvalleyland.com (RE/MAX Realty Affiliates) almost 7 years ago

Great advice Lisa for those who might be not be dealing with a dishonest real estate professional. I wonder though, how many people still fall for tricks likes the ones mentioned here?

Posted by Terrie Leighton, Reno Real Estate Agent ~ Selling Homes in Reno (Ferrari-Lund Real Estate ) almost 7 years ago

Terrie ... I think lots of people do.  I ran into one today!  she had been totally bamboozled and was amazed when we talked to her!

Posted by Lisa Wetzel, CDPE, SFR carsonvalleyland.com (RE/MAX Realty Affiliates) almost 7 years ago

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