Just don’t tell me the two most common lies of real estate.
When a sales agent is asked to price a property for market, they know they must impress the owner in order to obtain the listing. After all, first impressions are everything in a cutthroat industry like real estate. But it is a fine line that they walk and pricing a property right, is a very crucial aspect of selling.
So crucial in fact, that the two most common lies told to potential sellers involve the estimated quote that is dangled in front of them during their initial contact with an agent. They are what we call the improbable lie and the lie of omission.
Both have the power to substantially dampen your spirit and punish your wallet.
You’ve probably already been warned about the improbable lie; it’s what most property owners fear even before they decide to sell their beloved home. There’s no doubt about it, this is an intentional lie, whereby the agent inflates the potential selling price to an amount that is most likely going to be unattainable in order to gain a listing. For agent’s who charge up-front marketing fees, this is a great way to make a profit without actually selling any properties.
Ever so subtle but prevalent none the less is the lie of omission. Knowing full well the probable selling price of your property, the agent will chose not to disclose such details because it might lose them the listing and your vendor-paid advertising/up front marketing charges.
This dishonestly within the real estate industry is detrimental for all parties involved and often has serious repercussions for an agent as well. However with the right training and support agents should find they do not need to rely on these tactics, which is why Clark Real Estate we instil in our agents the values of fairness, honestly, sensitivity and competent actions.
We have Previously talked about how these lies have costed sellers a lot of money before. If you would like to read about how these lies are used in a real life example, please click on the following link: https://www.clarkrealty.com.au/real-estate-information/my-last-auction-what-actually-happens-at-auctions