Before we dwell on tackling the truth about the existence of these issues, we would like to give a disclaimer that this is not a personal attack on the real estate industry nor on the real estate agents who have worked day in and out for an honest way of earning a living.
Instead, I would like this article to serve as an eye-opening for those individuals who will do whatever it takes, even if it means deceiving and cheating on others just to get ahead or close a deal.
Defining the Profession
In order to fully understand and grasp the essence of this article, let us first define what is a real estate agent.
According to the description given by Investopedia, real estate agents are licensed professionals who negotiate and arrange the buying and selling of properties in real estate transactions. Several agents often belong to a group or work for a real estate broker/realtor who has additional training and extra certifications. Real estate agents most often work completely on commission, that’s why their income depends on their ability to assist clients and close transactions with a deal that works best for both parties.
Real Estate Agents Job Description
The real estate agents perform a variety of duties depending on whether they work for the buyer or the seller. Those who work for the seller advise clients on how to cast a price on the house and prepare it for sale. As well as giving tips on last-minute improvements that help boost the price or encourage a speedy sale. They market the property through listing services, networking and advertisements.
While agents working for the buyer search for available properties that are compatible with the buyer’s price range and wish list. These agents usually look at past sale data to help prospective buyers determine a fair offer for a particular property.
It’s vital for consumers to understand whether a real estate agent represents the buyer. The seller or both parties because the agent’s loyalty can greatly affect several details of the transaction, including the final price. State laws regulate whether an agent can represent both sides of a real estate transaction and most states allow this. Agents must disclose their representation so that buyers and sellers are aware of any conflicts.
Knowing the Difference Between Buyers
There are quite a lot of signs that distinguish a very interested genuine buyer from a poser who’s faking his/her interest in getting a good deal for a property.
Here are important points to ponder and watch out for in checking for a fake buyer:
- They don’t answer your questions with enthusiasm.
- Agents don’t give you specifics of what they are looking for in a property.
- Don’t tell you why they are buying a property.
- Their income cannot afford the kinds of property you are showing them.
- Look and sound like an undercover agent.
- They want to see all of the properties that you have.
- Cancel or postpone multiple appointments.
- Their story changes about why they’re moving.
- Can’t settle on a price point.
- They ask you to do strange favors that have nothing to do with real estate.
- Any property seems to be the right one for them, sight unseen.
- They can’t provide their financial information.
- Won’t give names, emails, or phone numbers for their advisers.
- They’re always having trouble sending you a fax or email.
Real Estate Agents – Identity Theft
Because there are a lot of things of things going on and a lot of your information needs to be submitted when you are looking for a property of your own. We cannot dismiss the fact that there will be future problems such as the leaking of your vital personal data that can be used in illegal acts.
That is why you need to protect yourself at all times by doing the following steps against real estate identity theft:
- Install malware protection software on your PC and create strong passwords to help block online attacks.
- Add a lock-out software that blocks access to your PC when you’re not using it.
- Never access or send financial/personal information when using FREE Wi-Fi or in charging stations.
- Seek referrals before choosing a lender & never send sensitive data without meeting them first.
- Never open suspicious emails or attachments even if they seem to come from your Real Estate Agents.
- Use caution in posting data about your purchases on social media.
- Do not email sensitive information and just send it via courier or use an encrypted doc-sharing platform.
- Never wire funds until you have confirmed that it’s a trusted source.
- Always be alert and on the lookout for impersonators and scams.
Now that we’re well aware of the scamming possibilities in dealing with real estate agents, we will be able to watch out and protect ourselves from any future mishaps.
Did you enjoy this article? Don’t forget to leave your comments or questions below so we can get back with you on possible answers.