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Real Estate Selling: 6 Realtor Tricks Sellers Should Not Fall For
Good brokers provide very valuable services, both for the sellers of a property and for the buyers. However, less good real estate agents can also do harm. We do not want to deny that there are black sheep in our industry, but we are convinced that there are more good brokers than is often assumed. There is only less talk about the good brokers than about those who attract negative attention.
If real estate sellers contact us after they have already tried unsuccessfully to sell a property with other real estate agents or have had bad experiences with real estate agents, it is part of the problem analysis to ask why they chose this real estate agent in particular. We almost always get one of the 6 answers that we have listed below.
Statement by the owner: "The realtor put the property online immediately"
A scam that, according to the statements of various owners, seems to occur frequently: the broker takes photos of the property (ostensibly only to show it to interested parties or sometimes even unnoticed by the owner) and then posts the property on property portals without the owner's approval.
Our tip: Don't be caught off guard this way. Insist that the realtor immediately remove the property from the portals and stop any activities or refrain from further activities. It's your property and it's about your assets, so don't put up with such tricks!
Statement from the owner: "The broker promised us the highest price"
In cities like Düsseldorf, the demand for real estate is currently greater than the supply. This tempts some black sheep to promise the owners sales proceeds that are beyond any reality in order to secure sales orders. Owners tell us again and again that some brokers promise high sales proceeds first and then advise a drastic price reduction once the contract has been signed.
Our tip: Do not get involved in such "games", because in the end it is about your assets, which are carelessly put at risk in this way. Do not be fooled by tempting promises, because unrealistic asking prices can have fatal consequences. A good real estate agent should provide you with a written real estate appraisal / market value appraisal and also be able to explain in a comprehensible manner how the determined value comes about.
Statement by the owner: "The broker immediately brought interested parties to the first inspection"
We hear that too often and many owners are impressed when a realtor brings interested parties with them to the first inspection, or even sends them over on their own. However, these “interested parties” then “unfortunately decided differently” as soon as the contract was signed.
Our tip: Put yourself in the buyer's shoes. Would you be willing to pay a broker a fee for presenting you with a real estate offer that he himself does not even know, let alone has checked the offer or can provide any information about it? How would you decide from the buyer's point of view? In your opinion, would that be a serious achievement that you would like to honor, or could you perhaps do it yourself? Based on these food for thought, decide for yourself what to think of the seriousness of such "interested parties".
Statement by the owner: "The broker did it even without a contract"
Some owners shy away from signing a contract and therefore choose a broker who does not want to sign a contract. The owners often forget that a contract also brings advantages for the owners. Finally, in a contract it is usually also recorded which services the broker provides, i.e. in a corresponding contract the broker undertakes to perform. If renouncing a contract is the only reason you choose a particular broker, you might want to take your time to reconsider.
Our tip: Do not forego a contract, but rather always go through the contract together with the broker and let the broker explain the terms and conditions to you point by point. You should take the time, because it is about your property - and usually a lot of money. When the broker has clearly explained the individual contract points to you, you can sleep on them again for a night before you sign the contract. Be prudent and calm, skeptical or stubborn if a broker wants to put you under pressure and urge you to sign immediately.
Statement by the owner: "We thought it was good because it had a lot of properties on offer"
Quantity is not always a sign of quality. You should question and check how many real estate offers each individual agent in the real estate agency has. Then estimate for yourself how much time an agent can spend on your property per day if he looks after 30 properties or even more. Also keep in mind that we live in a fast-moving time, in which prospective buyers want to have viewing appointments as soon as possible.
Our tip: Take some time and take a look at the website of the realtor. How many offers do the individual brokers look after? Information should be marked as “Provider imprint” or “Contact person” for the individual properties. Then calculate shortly after how much time the agent would have for your property every day, if this were to be added.
Statement by the owner: "The broker took us by surprise and urged us to sign"
Unfortunately, we often hear this sentence too. Sometimes impatient prospective buyers are pushed forward to urge them to sign quickly, sometimes various other reasons.
Our tip: Consistently switch to stubborn if you have the feeling that the broker is trying to take you off guard. This is your right because it is your property and your money is at stake. If a broker wants to urge you to sign, even though you are signaling clear discomfort, then the broker seems to be missing an important quality: empathy. A very important quality that, in our experience, is essential for a successful property sale, because it is important to put yourself in the shoes of the buyer.
Our experience and a final piece of advice: There are black sheep, but there are also many very good real estate agents. To lump everyone together does not do justice to the situation and does not help anyone, but to examine critically it does. In our experience, it is always worthwhile when selling real estate to take the time to compare the services of the realtors and at least thoroughly scrutinize full-bodied promises. As a real estate owner, it is up to you to decide which real estate agent you want to entrust the sale of your home.
Please consider: If you decide on a really good realtor from the start, it will be easier for him to sell your property quickly and at the best possible price than if black sheep have already made serious mistakes and "botched" some things.
In addition, we would like to expressly emphasize: The way real estate agents work can be very different and that doesn't always have to be a bad sign. Not all of the statements listed here are necessarily an indication that you have run into a black sheep. As is well known, exceptions confirm the rule. However, if one of the above statements is the only reason that speaks (supposedly) in favor of a particular broker, we can only advise you to reconsider critically whether this is actually enough for you.
Far be it from us to cast other brokers in a bad light. We only want to provide owners with starting points with this article, which they can then interpret and assess at their own discretion. As already mentioned at the beginning, we are convinced that there are more good brokers than is commonly assumed. Good performance is just talked about less than bad.
We've long debated whether to publish this post because it violates one of our core tenets - never talking about other brokers. So far, we have always remained true to this principle. In this case, however, we make an exception because the balance between principles versus transparency & information ultimately turned out to be in favor of transparency.
Are you looking for an agent to sell an apartment / house in Düsseldorf and the surrounding area?
Then talk to us, we will be happy to advise you. Your contact for property sales:
DEKRA certified expert for the valuation of developed and undeveloped land
Phone: 0211 - 730 25 55
Mobile: 0173 - 436 13 61
Average rating: 125.0 / 5
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