Gawler East Real Estate - Agents Deceptive Tactics - Its All About The Listing
At Gawler East Real Estate, we understand that some individuals in the market will attempt to secure a listing by providing an inflated appraisal without any substantial data to support their claims. As humans, we are naturally drawn to the notion of achieving a higher price for our property than what the market is truly willing to pay. Real estate agents are well aware of this and often present figures that exceed recent sales data in order to secure the vendor’s agreement to sign the Sales Agency Agreement.
Once the contract is signed, the agent has both the property and the potential sales commission. Many believe that real estate is solely about selling a property, but in reality, winning the listing is just as important. Once the listing is secured, a process known as ‘conditioning’ the vendor takes place, gradually readjusting their expectations to align with the true market value.
Agents often provide excuses and find reasons to explain the lack of interest from potential buyers. At Gawler East Real Estate, we have witnessed numerous agents within the conditioning process offering to put the vendor’s property up for auction. This approach serves a simple purpose: it allows the market to speak out and directly demonstrates to the seller the actual worth of their home. While the auction price may not reflect the eventual selling price, it effectively highlights that the property has been overvalued, making it easier for the agent to manage the homeowner’s expectations.
In March 2023, the ABC aired a 44-minute segment on Four Corners, shedding light on the deceptive tactics employed within the real estate industry. The episode specifically mentions the issue of overquoting or ‘conditioning’ in our market segment, starting at the 28-minute and 20-second mark.
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