Experienced. Driven. Effective.

Has a realtor lied to you? 

On Behalf of | Jul 25, 2022 | Real Estate Transactions

You’re searching for your new dream home which most likely means you are going to have to deal with some realtors. These are professionals who are tasked with selling homes that are available on the market. 

The majority of realtors are hard-working and honest individuals, but a minority have been known to stretch the truth to secure sales. It’s important that you are able to recognize the signs that a realtor is being dishonest so that you don’t end up pursuing a deal that is wrong for you. Outlined below are a few important factors to consider.

Overvaluing the property 

Generally, realtors are on a commission-based salary, which means that the higher the price they get for the house, the more money they receive when the deal has concluded.

For this reason, some realtors may try to exaggerate the value of the property you are interested in. it may benefit you to carry out some thorough inspections and look into the value of equivalent houses in the area. If the house you are viewing is listed far above the value of anything else in the region, it could be a sign that something is amiss. 

Pressurizing you

Of course, all realtors are eager to get a deal but they must do so with honesty and integrity. If an agent is pushing you to sign on the dotted line immediately, it’s best to question their motives.

For example, imagine this: You’ve been keeping an eye on online listings and the property you are viewing has only been live for a matter of hours. You’re fairly sure that you are one of the first viewers, but the realtor has told you that there are a dozen people about to make an offer, so you’ll miss out if you don’t commit now. Inventing false buyers is one trick that some dishonest realtors like to employ. 

You have a right to purchase real estate in good faith, and both buyers and sellers must operate on this basis. If you feel like you’ve been misled and need to pull out of a deal, make sure you explore your legal options