Real estate agents don't have the best reputation - and while it's completely undeserved in most cases, there are unfortunately some who will do anything to sign a contract. And they often use all sorts of tricks to gain and later abuse your trust.
Which realtor tricks should you watch out for, whether you're selling or buying real estate?
Trick #1
You are browsing the ads and suddenly a great apartment catches your eye. So you call the realtor, who tells you that he just sold it. But you're in luck - there's a similar one a little further away that you can come and see. So you go on a tour, you like the apartment, you accept the price given by the broker and you sign the reservation contract. But you will never get the property…
The apartment from the original advertisement does not exist, it was only used as bait. The property you went to look at was never represented by the realtor. The reservation contract is therefore only bilateral - it does not bind the apartment owner to anything. And so if they decide for another interested party, you have no chance of getting the property...
Trick #2
You are selling a property without a real estate agency and suddenly the realtor calls you that he has an interested party that he would like to bring for a viewing. You agree - every potential buyer is welcome. The realtor's interested party expresses a desire to buy an apartment, and the real estate agent offers to take care of everything and take the sale under his wing. Of course you agree. But the situation becomes complicated for those interested and they don't buy the apartment...
In reality, there was never an interested party - the agent simply wanted to represent your property and brought an acquaintance to the viewing to gain your trust. Which he succeeded.
Trick #3
You want to sell an apartment, so you meet with several realtors to find out what price they will offer it for. And you choose the one who declares the highest amount. However, even after weeks of advertising, no interested parties have come forward. The realtor starts to push the price and you discount. And then again. And again... Your confidence in the realtor's abilities is at zero and you want to leave. However, the contract does not allow you to do this for many months. In the end, the apartment will be sold significantly below the price.
In short, the real estate agent exaggerated the amount in an attempt to win you over and bound you with a disadvantageous contract. Unfortunately, the longer the apartment "lies" between advertisements, the faster the chance that it will be sold at a good price decreases. That's why you should always check the so-called fair price of the apartment. We dedicated a whole video to her: https://youtu.be/3GwM2b73DBc?si=_vnjMRmk_kyu62BZ
Trick #4
You are selling an apartment and the realtor asks you for an idea of the price. You tell him the amount and the real estate agent agrees. He even has a suitor! He arranges an inspection, the buyer likes the apartment, everything goes smoothly, the property is sold and you are satisfied. But in reality, you could have sold the apartment for a much higher price!
The realtor took advantage of the fact that your idea was lower than the market price and arranged the apartment for an investor with whom he has a favorable agreement. Instead of setting the real market price of the property, he rakes in a hefty commission. Always ask the realtor for an estimate of the price of the apartment and keep your idea to yourself.
What about you? Have you encountered any of these real estate agent tricks? Or do you have another negative experience? Let us know in the comments!
0:00 Tricks of real estate agents
0:49 Selling a property they don't represent
2:52 Theater for getting an apartment for sale
4:02 Unfavorable top price
5:50 Bargain sale to an investor
This is not the first time we deal with real estate agents. What are they actually like and which ones can you meet? Watch: https://youtu.be/yHZ_IHJf8K8?si=w37yBcc53XwV9iI9
Tenants don't often have the best reputation either. Do you want to avoid tenants like a horror movie? We know how: https://youtu.be/POMch1qfCxM?si=ZY-n3IqatgLZfXzI
Are you selling an apartment and really want to get the most for it? Then avoid these common – and expensive – mistakes: https://youtu.be/aekRhcAiVJA?si=txc7c2VcG0I4ALuw
Are you thinking about buying an investment apartment? We will advise you how to do it: https://youtu.be/DB_jP7BQG2k?si=a-oz9RhI9lcGdMwd
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Daniel, Lukáš, Honza, Martina, Květa, Ruda