Spot the Fraud Real Estate Agent
Throughout the world, dubious real estate agents mushroom and tarnish the reputation of real estate professionals who operate with integrity. Rather than calling them all corrupt, the real, checked players need to be listed. If you recognise the dishonest property agents and their scheming ways, the job becomes simpler.Learn more about us at real estate agency
Take the client’s unfair advantage, decamp with his deposit capital, include false evidence or omit the reality to swing the decision-making process. Manipulate rates such that undue benefit is extracted. A deceitful agent is likely to engage in any of these.
As customers appear to believe the agent ‘s words blindly, they never cross-check. When there is an unfortunate event, they tend to regret it. Look out for the usual signs of agents attempting to dupe customers that increase suspicion.
Some common ways of misleading consumers are fake papers, double mortgage chances, a general power of attorney used to sell to various individuals, government property, invasions, and questionable agreements. Verify and make an informed decision on each and every aspect.
On persuasion, brokers depend. In order to generate fear of a price rise, they cite an increase in the value of other properties in the location. They want you to panic and make a decision quickly. If this technique is implemented by your real estate agent, you have a legitimate reason for suspecting his intent.
Note that it is mere speculation whether the agent favours upcoming projects. Perhaps the contractor has not yet registered the land on which he is expected to build.
From property portals and newspaper listings, you can get an estimate of rates. Contact several top-rated brokers or approach a person who has recently purchased a similar property in the region until you trust the agent and seek useful information.
Check for consistency
The quality of building is never revealed by real estate agents. Two equivalent properties in a town are in the same price range, but one project provides greater quality and facilities for development. In order to verify the large claims made by the property agent, visit the site. Consider yourself fortunate that if you think he has hyped it for you, the scam real estate agent has been exposed at the correct time.
Sale at a distance
When buyers and sellers live in different geographic locations and rely on the intermediary, the dependency on the property agent is higher. On the basis of what the agent insists, agreements are closed as the parties do not get to meet in person. Until finalising the agreement, it is easier to focus on meeting the other side. Without the buyer and the seller getting to know each other, if the agent tries to close the sale, something is fishy about the situation.
Real estate brokers earn a fee depending on the deal ‘s value. You can ask for the fee that the agent earns from the other party. Take it as a warning signal if you do not get a straight response. You should be alert if he tries to escape the question. As it creates mutual confidence, a real estate agent should have no hesitation to answer this clearly. He should report the commission he gets from it because he knows the real value of the contract.