Real estate agents might lie about the details of their own credentials, the value, and condition of a property, or the amount of interest in a property.
To obtain a listing, a real estate agent may also falsely say they have a buyer lined up for the property.
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.
Can you trust real estate agents?
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.
How do I know if a real estate agent is legit?
4 tips to make sure your estate agent is legit
- It’s all in the paperwork. Madhav says the Estate Agency Affairs Act 112 of 1976 (EAA Act) governs the industry.
- 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.
- Know the scope of estate agents by law.
- Justice should be served.