Fifteen Common Lies Realtors Tell

By Author: Lawrence Roberts
Total Articles: 4762
Comment this article

Realtors are agents of sellers. It is their job to obtain the highest possible sale price for a piece of real estate. 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. If you see a property you love, you really need to make an offer.
7. The more earnest money you put down, the more seriously your offer is taken.
8. Things have been a bit slower than last year, but the last two weeks we have seen a lot more traffic.
9. Rates are creeping up, so you better get in now.
10. If you wait until the bottom, you will miss out on getting a property that you really like.
11. This property is priced at below market value.
12. Don't worry. You can afford this house.
13. 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.
14. Trust me.
15. 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.

The Great Housing Bubble was inflated by loose lending practices and greedy buyers. Realtors helped the bubble inflate by fueling buyer greed with stories of endless appreciation and money for nothing. In the end, it all turned out to be a huge lie.
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 Fifteen Common Lies Realtors Tell.