Buying a home is one of the most important investments in a person’s life. Therefore, preparing for lies that a realtor might tell you to sell a particular property is essential. You don’t want to spend your time and a lot of money on a faulted property.
Real estate agents are hired to sell homes quickly and at high prices. Their main purpose is to interest buyers in homes. Achieving this goal becomes difficult when the property is not very attractive. This is why realtors often come up with little white lies to cover up faults. However, even if these lies are little, they may have a big weight on your decision.
Lying Listing is what they call a very common occurrence. This is when home buyers visit a house only to find out that it lacks many of the colorful features included in the listing. If you plan to buy a home it’s good to know what you should rightfully be skeptical of.
We can help you with a list of several common lies that realtors in Virginia tell new buyers to help you avoid unnecessary complications.
Lies About Experience
One of the most common lies you will come across when trying to find a real estate agent is years of experience. A lot of realtors flash false numbers on their profiles to get buyers’ trust. You need to find a realtor with many years of experience because an experienced professional will be able to handle any unexpected problems.
Experience is crucial for a real estate agent to have. The housing business can be ruthless and volatile. You need to have someone who knows what they are doing on your side to avoid any big issues. An experienced real estate agent knows how to prevent problems from escalating.
Price of Property
If you are a property investor and plan to manage rental properties, you might want to buy homes for as cheap as possible. A real estate agent may lie about the price of a property to sell it easily. They might say the house is being sold for less than what a seller has agreed on.
This is caused by the realtors’ belief that they can get buyers to get in competition with each other and eventually agree on the price that a seller is asking for. Sometimes this tactic works, but not always.
You can avoid this trap by being skeptical about the price that an agent tells you without double-checking it. You can ask the seller to directly confirm the housing price for you.
There Are Other Buyers
Lying about other offers is probably one of the most common ones. Realtors in Virginia might tell buyers that there are other offers from other interested parties on the table. When a house on the market gets a lot of attention buyers start to think highly of it.
If you find out that a property has a lot of attracted buyers, you might think that either the location, the design, or the construction is excellent, trendy, and desirable. Therefore, you might be willing to pay a big price and you might even offer a higher price than what the seller demands.
However, there are not always other buyers with much better offers. A lot of the time, it’s just a lie that realtors tell buyers to sell.
Realtors will try their best to sell the property at a high price. There may be maintenance issues that chronically affect the household that might go unnoticed by the naked eye. A real estate agent will most likely try to sweep these issues under the rug. There is a very low possibility that a realtor will truly give you a list of property faults.
Sometimes, agents go as far as to lie about maintenance problems that you may notice. For example, if you correctly assume that the sewage system doesn’t work properly, an agent might convince you otherwise by fixing problems on the surface.
You can avoid these tricks by hiring professionals to conduct thorough inspections.
Lies About The Location
If you have just moved to Virginia and have never bought a home before, the realtor might take advantage of your lack of experience. You might find a neighborhood that looks wonderful and peaceful, however, it could be dangerous, loud, or uncomfortable for your family.
Realtors will try their best to sell you the property by telling you that the neighborhood is quiet and giving you a tour of the house when it is peaceful. However, there may be certain hours of the day when the community around the house is very loud.
The realtor might lie about the crime rate of the property, transportation abilities, education centers, etc. You can check the truth by looking at the statistics and facts online about the neighborhood of your preference.