Top 5 Gimmicks
REALTORS USE TO TRICK YOU INTO SIGNING
1. Guaranteed Sale
These agents offer the bold claim that “if we don’t sell your home, we’ll buy it.” It sounds like a strong guarantee, until you read the fine print, which requires a deep price discount on the property in order for the agent to buy it. Most guaranteed sale agents have never bought a client’s property, and those that have end up buying it at such a steep discount, they’ve made more money on the sale than a traditional listing. Inman News wrote a great article that explains all of the details.
2. Inflated Market Analysis
Every seller loves to hear that their home is worth more money than they originally thought. It’s human nature, and many agents take advantage of this in order to win more listings. These agents then encourage their clients to lower the listing price due to “changing market conditions” or due to other excuses. Ultimately, if the property sells, it does so at a lower price, which is the true market value. We will always give you our opinion of your home’s value and are happy to list at any reasonable price (even if it’s higher than our analysis indicates.) We promise you honesty & accountability, and always work towards the same goal as you do. Click here to read more about our Intelligent Pricing Strategy.
3. “I Already Have Interested Buyers”
Many agents will claim that they’re already working with buyers who would love to purchase your home. Again, this sounds great, because everyone would love a quick sale. While most agents making this claim aren’t being honest, it’s still a terrible reason to choose an agent, even if they do. We rarely recommend selling a property prior to listing it on the MLS because we can often generate multiple offers by listing it intelligently. We also never “double end” a transaction which is what these types of agents are proposing. It’s in your best interest to systematically prepare your property, market it, and engage the most potential buyers as possible.
4. The Myth Of The Neighborhood Expert
Most real estate agents sell 6-12 homes per year (the average is 6.) You’ll often hear “I live/work primarily in your neighborhood” which implies that this agent is uniquely qualified to sell your home. However, if you were to check their sales statistics, you’ll usually see that they’ve sold very few (if any) homes in your neighborhood. It’s smart to take the “neighborhood expert” gimmick with a grain of salt and listen to an agent’s strategy, systems, support, and experience.
5. Incessant Cold Calling
While not technically a gimmick, this is a very sound reason why many sellers don’t like real estate agents. Because we also own many rental & rehab properties, we receive these same calls. We’ve received as many as 10+ calls in a single day to see if we’d like to list one of our properties with these agents. They’re clearly not checking up on us before calling, and they’re clearly not cross referencing the Do Not Call List (which we’re all on.) During these phone calls, you can be sure that you’ll hear one or more of the gimmicks listed here.Thinking About Selling Your Home?
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