tiwarisarita623

· 06 Apr 2022

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What to watch out for with real estate agent

Selling your house can be a hassle and that too for the right price. You can either look for a customer on your own or take help from a real estate agent. If you plan to go with a real estate agent there are a few things you need to watch out for like their high-pressure sales tricks, dishonesty, lack of responsiveness, and a general lack of ethics, but not all real estate agents are the same.
If you look carefully you will find agents who are good at their work and can help you get a great deal without trying to rip you off. Here are a few things you can go through before going to a real estate agent to avoid any issues.

Pressure for paying in advance
Real estate agents are known for asking for a good amount of money from sellers in advance, they call it ‘up front’ money. They will ask for it to use it for advertising, traveling, etc. It is important to never pay advance money to them. The usual way this works is that they are paid a percentage commission at the close to the deal that includes all their services and you can negotiate on the amount without hesitation.

Giving an unrealistic selling price for a home
When an agent tells you that you can get more than you should for your house, you need to be cautious. They use this trick to get you to either pay them in advance or get you hooked. Later they usually tell you that the market has gone down and the price you are asking is too high. It is important to stick to the price according to the market and don’t get trapped by real estate agents' tricks.

Keep an eye on their advertising efforts
A real estate agent uses your listing to advertise for their company by promising you many services but once the listing is agreed to, they forget their promises. Don’t get lured into their advertising plans and let them take benefit from it unless you see some profit for yourself.

Selective disclosure
A real estate agent has to share every detail of the house with the buyer but most of the time they do not share everything about it. You might have heard incidents when people were sold haunted houses by agents without knowing, or bought a house that had plumbing issues, etc. Remember to get full disclosure from the seller and selling agent in writing.

Making double ending deals and keeping the offers
Real estate agents for sellers can double their commissions by bringing buyers of their own which is fine for the seller unless the agent tries to favor his offer just so he doesn't have to share the commissions with another agent. Make sure your agent commits in writing to presenting all offers fairly.

Using a Bait and switch strategy
Some real estate agents show fake listings or keep good listings active long after they've been sold. Upon asking to see these properties, they'll offer another listing to see. Always, research listings yourself online.
If you find real estate agents using these tricks, stay away from them. Remember this behavior is against the law of professional ethics. They are cheating you as well as their fellow professionals. If you keep an eye on these tricks you will find yourself a nice home or sell it easily.
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