Lies Realtors Tell You to list your house for sale
When you’re ready to put your home on the market, You will want to select a real estate agent that will get you the most money but will also have your best interests at heart.
I’m sure you’ve seen and heard many outlandish claims by agents when they are trying to earn your business. Let’s look at a few of these lies and get to the truth.
1 The agent agrees to take a listing at a price that YOU want to hear, rather than what the real market value is, just to secure your listing. This is followed by a series of weekly phone calls telling you that you have to lower the price. This false hope is deceitful and a waste of MARKET TIME. Remember, most people see your listing in the first 2-3 weeks, so overpricing will just scare them away.
2 “I can get you more for your house than any other agent.” While this is possible in some scenarios, the truth is that the buyer who puts down the cash will be the ultimate decider of the price. Agents may guide you through a tricky negotiation but they have little control over the buyer’s mindset.
A variation on this theme is the agent that re-lists a house, sells it and then claims they got “Over Asking Price”, which just means that they priced the house way under market and got someone to pay above that low ball price.
3 Telling you they have buyers standing by to purchase your home. While there are some agents that have a very specific buyer that wants to be in your neighborhood, most of these agents cannot produce a real buyer or will give you excuses about how their buyers “just didn’t like your home” after they have secured your listing.
4 Claiming that they are the area specialist or have expertise in selling your specialty type of home such as luxury estates, horse property or waterfront homes. Simply ask them to produce a list of their closed transactions in the past 3-6 months.
A favorite line I hear often is that I specialize in all of Southern California or everything east of the Mississippi. Obviously, this agent is a generalist and probably hasn’t sold much in any one area. Real estate has so many micro markets that it’s impossible to specialize in a large geographic area.
5 is the Guaranteed Sale or iBuyers - An agent tell you that they will guarantee to sell your home in X number of days of will buy it outright. Of course they will...at an extremely discounted price. I will buy homes all day at 20-25% off the market value. Don’t fall for this one!
iBuyers are coming to the market but are also only buying at a steep discount or eliminating commissions by disguising them as various transaction fees. See my recent video on this topic.
6 Claiming they have massive internet presence when in reality their listing is just automatically syndicated to several hundred search sites, most of which have little or no traffic.
A true internet marketer will have several websites including a branded broker site, a personal agent site, a single property site exclusively featuring your home, a blog, YouTube channel that features listed homes, Instagram posts, a Facebook Business Pages and other social media sites that are actively used to promote your home throughout the course of your listing. This is not a one-and-done proposition. Again ask to see several of their campaigns.
And video is another topic that is loosely tossed around. Do they really create cinematic productions with multiple cameras, drones, music and narration or is it just the agent walking around the property with a shaky smartphone? There’s a huge difference.
So these are my top tips when looking for a real estate agent to list your home.