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10+ Can a real estate agent lie about other offers ideas in 2021

Written by Ines Jun 26, 2021 ยท 12 min read
10+ Can a real estate agent lie about other offers ideas in 2021

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Can A Real Estate Agent Lie About Other Offers. But one or two did so I assume it was by agreement with the vendor or they were dodgy. Smarter agents would say we have multiple interested buyers which is not illegal to say. False information like that isnt only unethical but can potentially get a seller into legal hot water. This is a tactic that is used by many discount brokers or agents who also use home sale gimmicks to secure listings.

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My partner and I are currently in the process of buying a property. They certainly cannot as that would be making a misrepresentation to induce a contract. False information like that isnt only unethical but can potentially get a seller into legal hot water. Then the Seller does not accept offer or counters offer made by Buyer. Smarter agents would say we have multiple interested buyers which is not illegal to say. If another offer gets accepted before you accept ours were going with that one.

Then the next week the estate agent calls to say that someone who viewed the property previously has put in an offer a few thousand pounds above yours.

If you suspect this is a false bid challenge the estate agent and ask to see proof that this third party exists and they are willing to make a higher offer. That said there are some tells. I offered X they said no so I offered X 10K and they said yes. The only thing that isnt negotiable is the real estate agents commission. And yes this sort of behavior might actually start a bidding war. Real Estate Agent says Yes I hear that we are getting an offer or even Yes we have an offer Buyers Agents tell Buyer.

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Real Estate Agent Lying to Us about Other Offers. That said there are some tells. I offered X they said no so I offered X 10K and they said yes. Lying about another offer with or without forgery is probably misrepresentation. Then if you get past this stage and your offer is accepted you can still be gazumpedthe joys of ACT real estate.

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False information like that isnt only unethical but can potentially get a seller into legal hot water. However that doesnt mean they wont push the boundaries of whats allowed so you should always have your wits about you. Then the next week the estate agent calls to say that someone who viewed the property previously has put in an offer a few thousand pounds above yours. Then the Seller does not accept offer or counters offer made by Buyer. It is unethical for the agent to lie about multiple offers.

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Screaming banshee said. On the reverse side there are some real estate agents who will lie to a home seller and tell them they have the lowest commissions in their area. And theoretically a buyer should only offer what they are prepared to pay regardless of the existence or not of other offers. My partner and I are currently in the process of buying a property. The real estate agent tells the client that everything is negotiable from the price of a property to the perks included in the sales contract.

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However if the seller wants their agent to try and see if the buyer is serious then they will ask the agent to tell them either there are multiple offers an offer above asking or some other reason to make you think you need to make a hasty decision and believe youll miss on a good deal. This means they should not lie about offers to any party involved. I do know of dodgy real estate agents that when desperate to sell a property that they will lie about having other offers on the property. Some agents in my market and I assume everywhere do lie. My partner and I are currently in the process of buying a property.

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Since its so easy to lie about other offers or interest in the house not giving any such info avoids that possibility. False information like that isnt only unethical but can potentially get a seller into legal hot water. This is a tactic that is used by many discount brokers or agents who also use home sale gimmicks to secure listings. Lying about another offer with or without forgery is probably misrepresentation. I offered X they said no so I offered X 10K and they said yes.

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Since its so easy to lie about other offers or interest in the house not giving any such info avoids that possibility. Since its so easy to lie about other offers or interest in the house not giving any such info avoids that possibility. For example someone who verbally told them that theyd be interested if the price was 100000 lower might become a highly interested buyer whos submitted an offer thats very close to asking. False information like that isnt only unethical but can potentially get a seller into legal hot water. Then the Seller does not accept offer or counters offer made by Buyer.

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When an estate agent markets a home theyre legally obliged to treat both buyers and sellers fairly by following the Code of Practice for Residential Estate Agents. Some agents in my market and I assume everywhere do lie. If you suspect this is a false bid challenge the estate agent and ask to see proof that this third party exists and they are willing to make a higher offer. But one or two did so I assume it was by agreement with the vendor or they were dodgy. They certainly cannot as that would be making a misrepresentation to induce a contract.

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Mostly though it means that this seller and their listing agent have their heads stuck in the land of wishful thinking and its time to consider another property. And yes this sort of behavior might actually start a bidding war. No real estate agent wants to accept a lower commission. Then the next week the estate agent calls to say that someone who viewed the property previously has put in an offer a few thousand pounds above yours. There are funny rules on what estate agents can say.

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Smarter agents would say we have multiple interested buyers which is not illegal to say. Smarter agents would say we have multiple interested buyers which is not illegal to say. Real Estate Agent says Yes I hear that we are getting an offer or even Yes we have an offer Buyers Agents tell Buyer. False information like that isnt only unethical but can potentially get a seller into legal hot water. If you suspect this is a false bid challenge the estate agent and ask to see proof that this third party exists and they are willing to make a higher offer.

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Then if you get past this stage and your offer is accepted you can still be gazumpedthe joys of ACT real estate. Real estate listing agents will typically lie about multiple offers by exaggerating the level or the amount of interest theyve gotten on the property. If another offer gets accepted before you accept ours were going with that one. Mark Hayward chief executive of the body representing estate agents NAEA Propertymark says. There are funny rules on what estate agents can say.

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Smarter agents would say we have multiple interested buyers which is not illegal to say. However if the seller wants their agent to try and see if the buyer is serious then they will ask the agent to tell them either there are multiple offers an offer above asking or some other reason to make you think you need to make a hasty decision and believe youll miss on a good deal. Since its so easy to lie about other offers or interest in the house not giving any such info avoids that possibility. No real estate agent wants to accept a lower commission. If you suspect this is a false bid challenge the estate agent and ask to see proof that this third party exists and they are willing to make a higher offer.

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Real estate agents are by and large honest and ethical professionals. This means they should not lie about offers to any party involved. The REALTOR R Code of Ethics says listing agents must tell the truth about offers that have actually been received though the content of those offers is confidential and not disclosed. It is unethical for the agent to lie about multiple offers. Smarter agents would say we have multiple interested buyers which is not illegal to say.

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That said there are some tells. The real estate agent tells the client that everything is negotiable from the price of a property to the perks included in the sales contract. Those are fair questions. However if the seller wants their agent to try and see if the buyer is serious then they will ask the agent to tell them either there are multiple offers an offer above asking or some other reason to make you think you need to make a hasty decision and believe youll miss on a good deal. False information like that isnt only unethical but can potentially get a seller into legal hot water.

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But one or two did so I assume it was by agreement with the vendor or they were dodgy. This is a tactic that is used by many discount brokers or agents who also use home sale gimmicks to secure listings. On the reverse side there are some real estate agents who will lie to a home seller and tell them they have the lowest commissions in their area. No real estate agent wants to accept a lower commission. It means we want to expedite our deadlines for the sellers to respond and it means were likely to make subsequent counters with a multiple offer contingency in other words were making offers on multiple properties now.

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However a few of them might lie about the details of their own credentials the value and condition of a property or the. Mark Hayward chief executive of the body representing estate agents NAEA Propertymark says. Can real estate agents fake counter-offers. Mostly though it means that this seller and their listing agent have their heads stuck in the land of wishful thinking and its time to consider another property. False information like that isnt only unethical but can potentially get a seller into legal hot water.

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The only thing that isnt negotiable is the real estate agents commission. There are funny rules on what estate agents can say. Mark Hayward chief executive of the body representing estate agents NAEA Propertymark says. Some agents in my market and I assume everywhere do lie. No real estate agent wants to accept a lower commission.

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Those are fair questions. Then if you get past this stage and your offer is accepted you can still be gazumpedthe joys of ACT real estate. Then the next week the estate agent calls to say that someone who viewed the property previously has put in an offer a few thousand pounds above yours. NARs Code of Ethics also requires real estate agents to be honest with all parties So an ethical listing agent isnt going to lie about multiple offers on a property to stoke competition. However if the seller wants their agent to try and see if the buyer is serious then they will ask the agent to tell them either there are multiple offers an offer above asking or some other reason to make you think you need to make a hasty decision and believe youll miss on a good deal.

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That said there are some tells. The only thing that isnt negotiable is the real estate agents commission. If you suspect this is a false bid challenge the estate agent and ask to see proof that this third party exists and they are willing to make a higher offer. However if the seller wants their agent to try and see if the buyer is serious then they will ask the agent to tell them either there are multiple offers an offer above asking or some other reason to make you think you need to make a hasty decision and believe youll miss on a good deal. However that doesnt mean they wont push the boundaries of whats allowed so you should always have your wits about you.

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