Lies Realtors Tell - Ten Of Their Favorites

By Author: Lawrence Roberts
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Realtors are agents of sellers. It is their job to obtain the highest possible sale price for a piece of real estate. By law they cannot misrepresent any facts about the property, but when it comes to opinions about the investment potential of the property, or the state of the real estate market, Realtors can say whatever they want. There is currently no restriction on the exaggerations or outright lies realtors are allowed to tell regarding residential real estate market performance.

The most common ploy realtors use it to attempt to create a sense of urgency in a buyer. In a seller's market, prices are rising, and buyers already feel a sense of urgency. In a buyer's market, prices are falling, and there is no urgency on the part of buyers. This fact does not stop realtors from trying to create urgency even if the truth is cast asunder.

The most counter-intuitive part of buying in a buyer's market is to create a sense of urgency with the seller. Ordinarily sellers, or more accurately the seller's realtor, try to create a sense of urgency to buy the house. They want the buyer to think other people are looking, ...
... there is going to be a bidding war, and the buyer needs to get an offer in today. Realtors thrive by creating fear in buyers. They will use lines like:

1. It is a good time to buy!
2. Hurry. This one won't last.
3. Don't throw away your money on rent.
4. If you are serious, you had better buy now or you might be priced out of the market.
5. They are not making land anymore.
6. Rates are creeping up, so you better get in now.
7. This property is priced at below market value.
8. I will show my client the offer, but I just want to let you know that we have another offer for more coming in this afternoon.
9. Trust me.
10. It's not just the commission. I really care about you.

In a buyer's market these ploys are all lies (the truthfulness of these statements is questionable in all market conditions). Generally, the buyer is the only prospective buyer, and they can take as long as they want to buy the house. The buyer's task in negotiating is to create a sense of urgency and panic in the seller. This is why buyers should make their first offer their best offer.

When people were watching prices rise during the Great Housing Bubble, they felt a heightened sense of urgency to buy. This made many potential buyers even more gullible with respect to the nonsense realtors peddle. Perhaps in the future, people will be wiser to these ploys. Either that, or realtors will become even more vociferous in defending them...
About Author:
Lawrence Roberts is the author of The Great Housing Bubble: Why Did House Prices Fall?
Learn more and get FREE eBooks at: http://www.thegreathousingbubble.com/
Read the author's daily dispatches at The Irvine Housing Blog: http://www.irvinehousingblog.com/ Visit Lies Realtors Tell - Ten of Their Favorites.