It’s interesting that when the general public is asked about their opinion of real estate agents, the word ‘dishonest’ is one of the most commonly used descriptions.

 

So why are agents generally considered to be dishonest?

 

From my experience (having worked alongside hundreds of agents over the years), the better agents gain their solid reputations from their ability to share the truth…whether that be good, bad or indifferent.

 

So why do agents shy away from the truth?

 

Let’s have a look at the classic reasons that some agents are dishonest and what motivates them to be this way…

 

  • The Missing Agent – Many agents fall into the trap of avoiding their seller if there is no activity…that is, no enquiry, no feedback from buyers etc. It’s so easy to get caught up with properties that have lots of inspections and other activity and forget the ones that have very little going on. All of a sudden, the seller calls the agent to find out what’s happening and the agent feels twice as bad as they haven’t called and procrastinates calling them for longer. The public perception is that this sort of agent is dishonest when in actual fact, they are usually embarrassed because they over-promised at the start.

 

  • The Protector of the Price – Sometimes, an agent will appraise a property a certain price and when the market feedback is not as high as the price they quoted, the agent will often ‘shield’ the owner from the low feedback. In this case, the agent just finds it hard to admit that they were wrong and despite what the perception is, some homes are truly very difficult to appraise. Likewise, an agent might not want to pass on the buyers’ feedback regarding something that reflects upon the owner themselves (such as poor workmanship of a renovation…usually work that they’ve done themselves) or criticism of the home in general.

 

  • The Over-Appraiser – This agent deliberately and consciously provides the seller with an over-inflated appraisal price in order to tempt the seller into listing the home with them.

 

  • The Feedback Distorter – Usually reserved for auction properties or properties listed without a price, this deceptive agent informs the seller of the market feedback (often the agent reports the feedback to be lower than what is actually is in order to set a ‘more than reasonable’ reserve price or bench mark as to what the owner should accept. Agents who use this trick often have a sales pitch along the lines of “let’s let the market determine the price” or “Let’s not put a ceiling on what a buyer might be prepared to pay”. One of the problems here is that the buyers are usually a little shy on what they will really be willing to pay as they have no parameters to work with…but the bigger problem here is that the ‘market feedback’ may not be accurately conveyed to the seller and as such, the seller leaves themselves open to be exploited by an agent that wants a quick sale.

 

  • The Offer-Conditioner – Sometimes, a particular agent may ask a buyer to place an offer in writing just to provide a deliberate feedback figure to their owner…and this agent has precise knowledge that the offer has no chance of being accepted despite telling otherwise to the buyer.

 

  • The ‘Make it Up As You Go’ Agent – Often, this sort of agent has trouble saying “I’m not sure…let me find that out for you”. If a buyer asks a question about a home, the agent feels that they need to have all the answers to look clever and provides answers that they are not sure to be true…or even worse, they tell the buyer information that they know not to be true…just in order to close a quick sale…and worry about the consequences later.

 

I’m not defending any of these categories as we have the strong belief that every buyer and seller needs the complete truth without exception however, it is easy to see how a ‘pleaser’ type of personality or one that doesn’t like confrontation may enter some grey areas without actually meaning to be deceptive.

 

Certainly, when choosing an agent, it is easy to provide a few simple tests to determine the honesty of any agent and we would highly recommend you do this or you could be receiving advice that could cost you tens of thousands of dollars.

 

Until next week, Happy Listing & Happy Selling

 

My ‘Feature Property Of The Week’ is 16/30 Slade Street, Carseldine

 

 

 

 

 

 

 

4 Bed / 2 Bath / 2 Car

Offers Above $445,000

A near new 4 bedroom upmarket townhouse that offers 2.5 bathrooms, a study nook, a fabulous gourmet kitchen with Caesar stone bench tops and stainless steel appliances and a remote double lock-up garage. Offering ample space, complete privacy and absolute serenity, this fabulous property is very well-priced and offers incredible value for money. Make sure you’re quick to inspect this one as it is brand new to the market.

Details

 

Did You Know?

  • Michael has sold 38 properties with a final selling price of more than $1,000,000 throughout his 17 year real estate career.

 

 

 

 

 

 

  • Michael represented ‘Central Brisbane’ at the recent Queensland zone championships for indoor cricket in the ‘Over 45’s’ category. His team made the final but lost 107-100. Michael tells us that he’s happy with how he played but the way he’s walking around this week, it looks as though he’s ready for a wheelchair.

 

 

 

 

 

 

Fun Fact….

It is physically impossible for pigs to look up into the sky.

 

 

 

 

 

 

Quote Of The Week….

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It’s interesting that when the general public is asked about their opinion of real estate agents, the word ‘dishonest’ is one of the most commonly used descriptions.