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What UnEthical Agents Do That Will Cost You $$$$$

By
Real Estate Broker/Owner with Antonelli Realty 3137972

Part 1: 

While filing an ethics complaint on a Realtor I wanted to see just how much of a problem this was and if it was everywhere. I was amazed at what I found, the issue is everywhere and just as bad. So then I asked myself, why are there not more ethics complaints filed so we can get rid of these agents. Fear of repercussion, hopeing they will get caught by someone else, turn the other cheek or a combination of all?    These unethical agents not only give our profession a bad name, it hurts the consumers on both sides of the transaction. These deceitful practices cost the seller money because the property will sell for far less than what it is actually worth.  The home usually takes a longer time to sell, sometimes months. Their goal, these unethical agents, is to submit the deal that has them with all the home’s buying and selling commission by dissuading other agent’s buyer's from making offers on your home.  

I found this info on the net that I thought may also help the public to identify these habits;

Only One Photo These agents will often use just one photo on the multiple listing website.  Often, the photo will be of extremely low quality – a low quality view of the exterior or unappealing shot of a messy interior.   Disreputable agents do this so that when other agents or prospective buyers see the property on the internet, it looks so bad they have no desire to see it.   The listing agent will then go on to hold several open houses, hoping to find a buyer without agent representation.  This way, he or she will find her own buyer for the home.  Some agents go so far as to have beautiful photos of the property on their own website, but they won’t be posted anywhere else on the web.  

Making Your Home Uneasy To Show These shady listing agents won’t respond to showing requests.  They ignore calls and e-mails from other real estate agents.  They will never be available at the time requested.  The agent may cancel or try to reschedule the appointment at the last minute, often just within an hour of the scheduled time.  First, this keeps buyers represented by other agents out.  Second, it can cause the frustrated buyer to think their agent is not on the ball.  The buyer will then contact the listing agent directly.  In real estate parlance, this is known as “going direct”.   As the buyer simply wants to see the property, out of frustration he lines up appointments directly with listing agents, not realizing he’s giving up adequate representation on his part. This two-pronged attack enables the listing agent to double their commission, while reducing other neighborhood agents market share.  The unethical agent then becomes the so-called “neighborhood expert”.  The agent’s signs and ads will appear everywhere, and often seems to represent all the buyers and sellers in the area.  The agent becomes the “go-to” guy or gal.  The truth is, they’re flattening home values out of their greed.

 

Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

There are agents that do not play fairly.  I think the idea that no one wants to be the bad guy stops people from turning them in and they just avoid the agent in the future.

Apr 09, 2017 06:54 PM
Stavrula "Sam" Crafa, RNC,GRI, CDPE, PSA
Future Home Realty - Seminole, FL
Providing the integrity and service you deserve.

Lots of bad agents out there for sure and they end up getting a very bad reputation with other agents so no one wants to work with them. But sometime you have to if you're doing right by your client. 

Apr 09, 2017 08:36 PM