Real Estate lie's debunked....
Over our many years in the Real Estate Industry we have heard many different lines used to mislead the real estate consumer. These range from minor white lies or stretching of the truth to outright Bullshit!
What we are trying to do with this page is to educate the real estate consumer on how to recognise these lines for what they are.
"I have a buyer for your property" (True)
This line is used and sometimes it can be true! You achieve a quick no hassle sale. However, it is often accompanied by an agents full fee and a high commission. Why? And how can you be sure you got the best price, with only one person knowing it was for sale?
"I have a buyer for your property" (False)
This line is used and more often it turns out to be false! Too late, Real Estate agents use this line as a means to getting the seller to sign a listing agreement with them when really, they have no actual buyer for your property. Sure, all good agencies should have a list of buyers on their books, but is this list of buyers a buyer for your property?
"Look at me, I am the best agent there is, I sell the most properties in the area, blah blah blah..."
Often these agents skew the sales statistics by counting their teams sales as their own.
Advertising your greatest asset with Asking Price Ranges, ie $340,000 to $390,000.
The home seller is promised they could sell as high as $390,000! The buyers though, in their eye's only see the lower end of the price range, $340,000. $340,000 now has become your default asking price.
"Our agency will get you more in your pocket"
It is true that a great negotiator will get you a higher price from a buyer, after all, negotiations, we all train for it, but how will you know they are a great negotiator? No agent will tell you they are a bad negotiator. To be absolutely sure to get more in your pocket, ask your great negotiator about the 18 principles of negotiation and make sure you hire an agent that offers a better value service.
"You get what you pay for"....
Do you get what you pay for though? The Real estate Industry is fraught with unhappy clients, left with a bad taste in their mouths and huge holes in their pockets. Do you know anyone who has had a bad experience with an expensive Real Estate agency, did they get what they paid for?
"You need to be with a big Name Franchise agency"...
Why? Last time I visited the mainland I don't recall seeing any Tasmanian properties in their windows and believe me I looked in Real Estate windows, doesn't everyone? Actually come to think of it, I have never seen any mainland properties in our local real estate windows here either. Isn't that weird? I thought you needed to be with a large Franchise agency, don't they all show each others properties?
Quality versus Quantity.....
Many agencies claim to be boutique to focus more on their clients needs. Well, "Quantity has a Quality all of it's own", just make sure you are listed with a highly visible agency, where the buyers can easily find your property.
Agents buying listings....
The biggest liar gets the job.... Often agents "buy" a listing by telling the sellers what the seller wants to hear and that their home is worth more than it actually is. Agents do not control the value of your home they merely report on it using current market conditions and sales. Don't sign with an agent who just "tells" you a price. Make sure the agent proves their reasoning for their valuation on your home using hard written evidence from a reputable source. Agents cannot achieve a higher price which has been inflated in order to "buy" the listing.
Marketing and Advertising....
Marketing does work! If you had a great product but kept it a secret, how many do you think you would sell? But, a great product well marketed.... Now that's a different story! Advertising is a component of Marketing and "expensive advertising in the wrong area's, well, that's just a waste of money. When it comes to selling your greatest asset, ask an expert if you should keep it a secret?
"You need to be with a local agent, with a large window..."
Every agency has a large window these day's, it's called the Internet. More to the point, your property can be seen from that large "window" from the comfort of any armchair, in any living room, anywhere in the world. Not just when your standing in front of the "local agents" window!
"Why don't you sell the house yourself... you'll save a fortune"...
Only a fool would climb Mount Everest alone, don't be a fool! Hire a great Sherpa guide to show you the way. Everest holds too many examples of people who "saved a fortune". What will your sale cost you?