Quick Answer: Can Your Realtor Lie To You?

A realtor can lie to you about crucial things, like over-inflating the value of your home, or they can even mislead you about the services they will provide.

There are even real estate scams that sellers should watch out for.

Do real estate agents lie about offers?

Yes, the occasional real estate agent might lie about an offer. However, the vast majority would never do so. In real estate personal recommendations and reputation are critical to success. The loss to an agents professional reputation and the subsequent impact on their business would far outweigh any financial gain.

How do you know if a Realtor is lying?

Here are 17 lies your real estate agent might tell you.

  • That wall probably isn’t load-bearing.
  • This neighborhood is ‘up and coming’
  • My commissions aren’t negotiable.
  • Open houses are beneficial to the seller.
  • I have potential buyers that would love your house if you list with me.
  • This home needs only $10,000 of work.

How do I know if a real estate agent is legit?

4 tips to make sure your estate agent is legit

  1. It’s all in the paperwork. Madhav says the Estate Agency Affairs Act 112 of 1976 (EAA Act) governs the industry.
  2. Look out for con artists. Madhav says it is worthwhile noting that someone selling his or her own property can’t be an estate agent.
  3. Know the scope of estate agents by law.
  4. Justice should be served.

Should you offer less than the asking price?

In a sellers’ market, you would be foolish to offer less than the asking price (if that price reflects the current market value of the home). While in a buyers’ market, you have less to lose by offering below asking price. Even if the seller rejects your initial offer, they will likely come back with a counteroffer.

Can you trust your Realtor?

A career means longevity and these agents will generally be more business-like and ethical than agents of old. That does not, however, necessarily mean you can trust your residential real estate agent. So, like any profession paid by commission, the agent has a strong incentive to see you close a deal.

Why do Realtors lie?

Lies About Brokerage Fees

It’s likely that if an agent is telling this lie it’s because they haven’t proven enough value in what they provide a home seller to prove their commission and need to make it seem like commissions are a fixed amount.

Can buyers and sellers talk to each other?

Buyer and Seller and Ethics

That’s why a seller should communicate through his listing agent, and the buyer should communicate through his buyer’s agent. As a general rule it certainly is not a good idea for a buyer and seller to talk directly with each other during negotiations.

Does your realtor know your finances?

A real estate agent never needs to know your salary or your credit score and never needs to see your pay stubs, your tax returns, or your financial statements. Only your lender will ask you such questions and request financial documents.

How do I find out if an estate agent is registered?

Fact: Anyone can check if a property agent is registered

All registered property agents have a unique CEA registration number e.g. R123456A. This must be displayed with their names on their estate agent cards that must be worn when they meet clients, and shown on advertisements that they put out.

How do I find out if a real estate agent is licensed in the Philippines?

TWT Real Estate

  • You can verify a professional license with the Professional Regulation COmmission by visiting their license verification website at http://www.prc.gov.ph/
  • Search may be done on the name or the license number of the professional (easier if search by name).