When buying or selling a home in Brampton, you probably handle the most substantial financial transaction. So it's of the utmost importance that the real estate options in Brampton are all reliable. While the Realtor Code of Ethics prohibits unethical behavior, occasionally, some dishonest agents slip through. Here is what you should know!
The Most Common Lies Realtors May Use
As with any profession, some bad apples exist, even among real estate agents. Some realtors may stretch the truth or lie outright to make a sale or get a listing. While it's unfortunate, it's still valid. The best way to avoid such a situation is to engage the services of a reputable real estate agent, but it might take a little trial to find the right one.
The most common lies real estate agent use is:
#1. "Now is a Great Time to Buy"
A real estate agent could tell you to make an offer on the house by talking you up; about how good the Brampton market is for buyers. This line is typically used by agents when they try to win over new customers to encourage sales of the properties they represent. In this case, the real estate agent is most likely acting in their best interests instead of yours.
There will be many scenarios when it's the ideal time to buy because interest rates could be low along with the average house prices in Brampton. The truth is the best time to buy is whenever you're ready. It's best to ask your real estate agent questions such as 'Would you advise your relatives to buy now?' or 'Will the home's value go up in a year?' Then notice if the agent has the evidence to back up the statements. If they lie to you, there is a strong chance that they'll need more evidence to prove that now is an excellent time to buy.
#2. 'You Will Miss Out if You Don't Put an Offer in Now'
A real estate agent could pressure you into making an offer on a home or condo. By telling you not to miss out, they may obtain what they want from potential buyers like you. Suppose you start spending a significant amount of time with your real estate agent. At this stage, they might attempt to pressure you to put in an offer, as time means money to them.
The longer you spend with your real estate agent, the more likely they'll pressure you or tell you that you won't get a better deal.
#3. Pretend to Have More Experience Than They Have
Everyone likes to hire the most experienced professionals, with most people hesitating to hire someone new to the game. However, a real estate agent with little experience may mean they will be the right agent. As long as the price you pay for the property reflects your giving them a chance to get started in the real estate industry, there's nothing wrong with hiring a new agent. What's truly wrong is when a real estate agent claims to have the experience they don't have.
You can check on a real estate agent's experience by doing a little research. You can either search for the agent online by using Google or contact Brampton's real estate association.
When and How Do Agents Lie?
On your journey to buying your first property, there are multiple things to be wary of. Hidden fees or unreal promises are just the beginning. As a first-time buyer, you should look out for one thing: real estate agent lies. It's common for real estate agents to bend the truth to sell a home or make you buy one. After all, they have strict targets or deadlines they have to achieve for their line of work.
A tendency to spread lies about a home or condo is just one of the reasons why the real estate industry gets a bad rap. If the real estate agent does lie, it's most likely to be about themselves. They may be tempted to misrepresent their credentials on their websites or experience. Some could spend inordinate amounts of period posting online to get the maximum search engine exposure possible. In addition, others could buy ads to rank search results on Yahoo or Google. Find a reliable real estate agent that truly cares about your needs and can provide you with exactly what you want.