Beware Of Aggressive Real Estate Sales Tactics
One of the questionable real estate sales tactics I’ve seen used to acquire more listings revolves around a special program the agent has. Most of the time you’ll see this as a guarantee that if your house does is sell in a certain amount of days then the agent will buy it from you.
Earlier in my career I would hear these commercials and a certain amount of envy would come over me. Maybe one day I would become as successful as they were so I that I could roll out such a program. Heck, who wouldn’t want to take advantage of such a fantastic offer!
So as I grew my business I began to study the programs of different agents. I really wanted to see how they did it, I wanted to see the pitfalls in the program from both the agents perspective as well as the clients perspective. The more I researched the more I began to get this uneasy feeling. I know that agents can be seen as just another sales person, and to be honest, it’s because of programs such as this and other real estate sales tactics that add to the perception that all real estate agents are really just another sales person.
So here is why I don’t like this tactic. There are so many terms and conditions buried into the program that all the risk is put on the shoulders of the sellers.
It’s a no brainer for the agent because it’s almost impossible for the seller to meet those terms and conditions to activate the clause where the agent would buy it. First off, the price they will pay for the house in well below fair market value and then you have to agree to systematic price reductions to push the price down so they can sell it in the quickest amount of time. After all, the longer the home stays on the market the closer it comes to activating the buy clause.
Here’s the scenario. You set an appointment to meet with the agent because it seems like all your bases will be covered. If it doesn’t sell, no worries the agent it buy it from me. During the presentation you to begin to feel that uneasiness I was talking about earlier as there is no way you would ever agree to those terms. So you voice your opinion to which the agent then notifies you that you don’t qualify for the program and then they move on to their regular sales presentation.
There’s also another variation on this scheme out there. Let’s say your looking to buy a new home and you come across a listing you really like. So you decide to take a ride by the property to see what it looks like from the outside and you notice on the for sale sale a special offer. “By this home and I’ll buy yours!” So when you call the number to get more info, once again you find the terms and conditions to be ridiculous, but believe me, they’d be happy to come buy and list your home for you.
Folks, as a former baseball umpire I have to call them like I see them. It’s these types of “sales” tactics that can leave a bad taste in the consumers mouth, and unfortunately these tactics stink to me they are less than honest. Some might even call them Bait-And-Switch!
So if you thinking about buying or selling a home and you come across these types of programs, run as fast as you can and find another agent. And remember be wary of questionable real estate sales tactics.