4 Undeniable Lies Told by Real Estate Agents

You guys are in for a doozy. I will let you in on some top-secret trade practices or undeniable lies if that is what you would like to call them. Hey, I did not come up with these selling tactics. It was our forefathers or fore-agents who paved the way for small lies to build up pressure on the client into making the sale.

Now this is a bit of a grey area. Some might think of it as a harmless way towards the final push and some might find it unethical. But as a real estate agent, what would you do if your client was inches away from buying the perfect house at a reasonable rate, but was deferring because she was scared?!

Of course, you have to be careful because as a real estate agent, you should maintain the highest form of professionalism and trust for your client.

Common Lies Said By Real Estate Agents

Now I won’t say that lying is easy. But when you are in the business of sales, a few white lies go a long way for both the client and the agent. And let me tell you why.

Lie Number 1 – “This Property Will Sell Fast”

This is by far the most infamous undeniable lie in the real estate agents’ community. And trust me when I say this ALL AGENTS USE THIS!!!

“This property won’t be on the market for long. You need to act quickly”, is what your agent will say. This “phrase” or undeniable lie is often used as a sales tactic to pressure buyers into making a hasty decision. Indeed, some properties sell quickly, especially in competitive markets, this claim is often exaggerated to make a false sense of urgency.

The reason this is a lie is that no agent can predict with certainty how fast a property may sell. By using this lie, the agent tries to invoke fear in the buyers’ minds.

Lie Number 2 – “I Have Another Party Who Is Interested”

The “I have another buyer who is highly interested”, is an all-time classic. While there are instances that multiple buyers are eyeing the same property, this claim is often used to encourage buyers to submit offers quickly or up their bids. 

Some agents use this tactic as a bluff to instill false competition between buyers. By creating the illusion of a bidding war, the agents hope to speed up the decision-making or potentially increase the final offer.

At Brotherly Love Real Estate, throughout our homebuying experience, we have personally witnessed a lot of agents use this to positively drive the deal. If your client is interested in the property but is taking too long to decide, letting them know that other buyers are interested could help them decide if they want to go ahead. Agents should tell the truth versus lying. If it benefits the agent ethically, then no harm is done.

Lie Number 3 – “We’ll Get You The Best Deal” 

Who wouldn’t want the best possible deal?! I know I would. Agents often use the term “Best possible deal”, as a way to win over the buyers and sellers. While it might sound reassuring, these are often empty promises. They are as empty as the houses on Selling celebrity real estate (we all know who we are talking about!).

This undeniable lie is subjective and depends on the circumstances. For buyers, the best deal may mean a lower price, and for sellers, it is the opposite. Agents, however, are driven by commissions, which are tied to the final selling price.

The idea of a “best deal” might not always align with the client’s interests. In recent years, it was realized that this tactic was being misused. A ton of agents now set realistic expectations for their clients that harbor transparency.

Lie Number 4 – “Your Home is Worth More Than You Think”

For sellers, tempting undeniable lie agents use is “Your home is worth more than you think”. By over-promising, they hope to secure the listing, only to later recommend reducing the price when the property fails to attract buyers.

This lie is slightly dangerous as it can waste a lot of valuable time and leave the client hanging in thin air. Overestimating can lead to unrealistic expectations and disappointment.

For sellers in this scenario, it is essential to do your research and ask the agent for evidence. We as a homebuying company always ensure that we do the groundwork before getting into any deal.

Misrepresentation in Real Estate

Now you might understand why I said that this is a grey area. Oftentimes, these undeniable lies may also pass for misrepresentation in real estate. Misleading your client just to get the commission is no way to do business. Here is how buyers and sellers can stay safe when swimming through an ocean of real estate agent lies:

• Request comparable sales and other relevant data
• Take the time you need to review the property
• Get a second opinion if you are feeling pressured or unsure
• Do not let competition (real or imagined) pressure you into a decision that does not align with your requirements
• Ask for evidence of competing offers
• Do not get swayed by high-pressure tactics
• Take a proactive role in negotiations and do not depend solely on the agent

What is Unethical Realtor Behavior?

Unethical realtors often use misrepresentation to win a listing. Such actions violate ethical standards and are often considered illegal. Some examples include:

• Marketing false details about the property
• Conceal defects in the property
• Forging documents related to the property
• Misrepresenting market conditions
• Inaccurate financial information

How To Breakup With Your Lying Real Estate Agent?

Breaking up is hard. We no longer live in the world of “it’s not you, it’s me, but it’s you”. Breaking up with your real estate agent is best done as early in the partnership as possible before they have invested their time in coming up with the undeniable lies. No homebuyer or seller deserves to be lied to. Protect yourself out there!

It can be as easy as simply telling your agent that you are no longer interested in their services and appreciate their time and expertise to a full-fledged undeniable lie from your side. Either way, respect and communication are essential. It cannot always be the real estate agent using lies, can it?

Trust but Verify Your Real Estate Agent

While many real estate agents including myself strive to work honestly and for the clients’ benefit, recognize and acknowledge that not all agents are the same. Undeniable lies can slip into the conversation at any point during the deal. Trust your gut! Especially when you feel like your real estate agent is fibbing. As a buyer or seller, you should advocate for yourself and verify claims before coming to conclusions.