The real estate industry is filled with gimmicks and scams that line the agent’s pockets while leaving the seller short-changed.

At the Hastings Team, we are well aware of these deceptive marketing tactics that are being commonly used by an increasing number of agents.

We are committed to ensuring our clients never get the raw end of the deal. There are three prominent tactics that agents use to land clients that we consider incredibly dishonest.

We Have the Buyers (AKA Selling Outside the MLS)

This is a bold claim made by agents in an attempt to impress home sellers. What the agent is essentially telling you is that they are operating outside of where 99% of the buyers are and where the majority of the sales take place.

  • Based on sales statistics, that would mean there is a 1% chance of the agent actually selling your home. Either the agent is incredibly effective at working outside of the norm, or they are lying.
  • As a binding legal document, the MLS profile sheet is what guarantees a cooperating brokerage gets paid for the sale. Successful agents use the MLS listing as a way to show their competitive advantage.
  • If an agent makes the claim that they sell the majority of their properties outside the MLS, the MLS sheet should reflect that those properties spent 0 days on the market. It is important to ask for proof.

Guaranteed Home Sale Or I'll Buy It

This is one of the most commonly used tactics of dubious agents. On its face, this offer sounds like a win/win situation. However, the “home sold in X days or I’ll buy it” comes with a number of stipulations.

  • The first is that the price is reduced at predefined intervals which will likely result in the agent paying below the market price for the property.
  • Other stipulations may include paying a full commission on the sale, an obligation to buy from the agent’s current inventory listing at the full asking price and double commission for duel agency amounting to as much as 13%.
  • While this gimmick can actually benefit certain homeowners, such as those facing foreclosure, it is important to exercise due diligence when presented with such an offer.

The Hastings Team can purchase your home on request – if you feel that is the right financial option for you.

Price Hiking

There are few real estate gimmicks which are more appealing than the price hike. It’s most commonly known in the industry as the “Buying the Listing”.

  • Most homeowners have an idea of what their property is worth, so when an agent claims they can get you way more for the property the offer is too good to resist. However, all that glitters is not gold and this scam will cost you in the long run.
  • With your home on the market at an inflated price it isn’t going to attract buyers. As the days turn to weeks the agent can start pressuring for price reductions under the guise of making the property more attractive to buyers.
  • The longer your home spends on the market, the more likely it is that you will end up selling well below market value.

Nate Hastings cuts through all the gimmicks and scams to provide our clients with transparent representation when selling your home. Learn more about real estate sold by Nate and his team or contact us today to arrange a one-on-one consultation with an experienced realtor from the Hastings Team.