Let us be honest with each other. In every field we come across dishonesty, be it a real estate broker or someone else in the business. Most real estate brokers claim that the client's satisfaction is first and foremost, but the sad fact is that they prefer their own profits. I do not want everyone to throw in one bag, even today there are decent professional traders who pay for dishonesty or amateurs in the industry. We still lack stringent regulatory rules. Fortunately, that will soon change. Let's, however, show the biggest fakes of would-be "real estate brokers."
FAKES FOR SELLERS
1/ I buy an apartment at this place and I pay in cash
This is one of the biggest fakes on you clients. Surely you have already registered that a letter appeared in your mailbox: I buy an apartment in this location or buy an apartment in this house, I pay in cash, please call and there is a phone number. Do not be mistaken, it's all real estate. Do you really think that a real buyer has time to print his tickets and in his spare time to bypass houses and throw them into the mailbox? Real buyers visit paid real estate portals, where they already see what they can buy, and they do not have time to print things like this. If you call on a ticket, you'll find it a real estate broker after a while. Would you like to work with someone like this if he's lying to you from the very beginning and making yourself as the buyer?
2/ I have a buyer on your property
A classic bored phrase that is used only because real estate owners "hear" on it. The only real reason is to get into your property. An advanced bust is to bring your real estate to a "client" - it's usually a friend or acquaintance, and they usually get a reward for it. Then the broker will call you unfortunately that the client is not interested. He has already gotten into your property, maybe you've allowed him to take a picture for the "client", and maybe he has already given you a contract. So summarized below: the goal is to get you home and sign a contract with you.
3/ unreal price
Many brokers promise you an unrealistic property price. Why? They want to get you on an exclusive contract. Of course, every owner wants to sell at the highest possible price, that's understandable. And thanks only to this, the owners usually let themselves be convinced and signed up. And what happens? Not only will you never get the promised price because it's not real, but dishonest brokers will "force" you to cut price.
4/ we will redeem your property
You are in a very difficult financial situation and you do not know what to do. You have already registered an offer of type: we will redeem your property, we will pay immediately and in cash. Please be very careful, because you will get very little money for your property and you will loose a lot of money. You better hire an experienced broker to advise you how to get out of this problem.
FAKES FOR BUYERS
1/ fictitious market offer
If the property owner does not allow advertising and does not sign the contract, the broker will create another advertisement, a so-called fictitious offer. He will use other photos, describe the technical condition that corresponds to the reality of another property and make this fictitious offer on the market. When a buyer calls for it, he tells him that the property is already booked, but at the same time he has something similar about 3 streets away. Terrifying, is not it?
2/ concealing the technical condition of the property
A dishonest broker can assert to the buyer that the apartment is for example after complete reconstruction, although the real condition is only a partial reconstruction, for example only bathroom or kitchen. The goal is to get a commission from the buyer. Of course, the buyer will know that over that time and will want to solve, for example, by withdrawing from a contract, when the real estate agent says he will not return the commission, or that the owner of the property has concealed it.
3/ I have other people interested in this property
A dishonest broker will tell you during a tour that he has a lot of people interested of this property and you must sign a reservation agreement as soon as possible, possibly the next day.
4/ the contract can not be changed, it is fixed
The dishonest broker will convince you that there can be nothing in the contract to change that it is a company regulation. Immediately find a different broker who will be able to accept your requests and modify the text of the reservation agreement so that it is balanced for both parties. At the same time, be mindful of what you are signing. No solid office will push you anywhere and force you to make an immediate decision.
5/ the booking contract is closed at a restaurant or café
If this broker offers you, run away. It usually means that the broker does not have his own office and hence the proper background. Nowadays, there are many brokers who do not even have the appropriate privileges and guarantees for clients and are doing business just because of the quick commission profits. They do not even have the necessary capacities, experience and education. Always sign the reservation agreement at the registered office or brokerage!
6/ Please sign me this protocol of tour of the property
Take great care here and read everything! One of my client has signed such a protocol (I will not appoint a real estate agency) and then wanted to buy a property from me. The real estate company immediately threatened her with being their client and that she had no right to buy a property from the competition. I saw this protocol personally and I was not quite surprised. Never sign anything like this! The argumentation of the real estate agency type that it is for the owner or other similar nonsense ignore.
FINALLY:
Now you have a thought in your mind, how is it possible that I know so much about unfair practices? Let me explain. I have been in the real estate business since 2009 and during that time I have encountered unbelievable things. Whether I have found these things in interviews (what is all the work for a real estate broker) or what the clients have told me. Some practices are known from their former colleagues, some have done so voluntarily, and sometimes they have forced a real estate agency to do so.
I'm really sad about it. There are so many capable and professional brokers, and they pay this to dishonesty with a high income. A law is already being negotiated that clearly sets out rules for real estate agents. Brokers will have to have their tied trade, the necessary education and practice in the industry. Some of them also expect accreditation. We are looking forward to this law because we believe it will help to "heal" the real estate market. It will be difficult to build back trust in customers, but it is worth it.