Yes I said it, be aware if you're a homeowner who want's to sell their house with a Realtor.
It's become more evident that many Realtors are using scams in order to generate leads while using your home as the driving tool behind it! These practices that we are going to discuss in this article are very unethical and can sometimes be illegal.
The other day while combing through some classifieds online (Kijji & Craigslist) I noticed homes being marketed for sale that are no longer on the market, in fact all these homes were sold some time ago. I decided to follow up with the Realtor(s) who were posting these ads and get the scoop. Every Agent that I spoke with gave me the same line- the house is sold but I can find you something just like it! When I asked why they were advertising homes that have been sold they all replied that the home had just sold and that they haven't had the time to update the ad! That my friends is a complete lie as the subject properties were sold a while back as I stated earlier in this post. When I confronted them and told them that I was a Broker with Re/Max they all replied by hanging up on me. This was not the response I was hoping for.
The same can be said when home sellers ask their Realtor do conduct an open house during the listing period, most agents use this opportunity to leverage the listing in finding other buyers to sell them other homes that the buyer might be interested in, not your home. This is how newer agents find business.
Another sleazy trick Realtors use is when they list a home that isn’t even for sale. They tape off the MLS logo on the sign and report the listing as exclusive, which is fine but the home usually belongs to them in which they must disclose and usually don’t because this would discourage any serious buyer from talking to them, hence make it more difficult for the Realtor to generate leads.
This is why it’s important for buyers to retain the services of a Realtor who can sniff out this behaviour and save a motivated buyers time.
These are just a few methods that take place in our industry, if you’re a buyer or home seller that believes that a Realtor is trying to pull the wool over your eyes then please report them to RECO.