Lies are told either to aid deals to go through or to deceive others. Real estate agents that justify themselves by saying that “white lies” are necessary to get deals done are slowly developing a habit of dishonesty-one that they justify by saying that it is necessary for getting deals through on time and without causing unnecessary loss.
Unfortunately, this type of dishonesty can cause a lot of damage to both the agent (be it an agent for hire or an actual agent) and the real estate transaction. A lawyer for hire would agree that it is a betrayal of trust for an agent to mislead or cheat in any way.
In Australia, a real estate agent may have two options. Firstly, he/she may be required to sign a document that is known as the Deed in place of Title. This is a document where the real estate agent agrees that the said real estate agent is not to do or say anything that will compromise the ownership of the property in question.
Secondly, the real estate agent could be required to sign a Memorandum of Understanding that clearly states that the agent has committed no fault and that the said agent has no knowledge that the transaction was done with intent. This agreement, if breached, would entitle the buyer/seller to recover its legal costs and penalties that were the result of the dishonest act of the real estate agent.
As the owner of the property, you might want to consider hiring a real estate agent that you know personally and trust. A real estate agent that you have dealt with in the past can help you get through your dealings with the agent’s previous clients. As well as being familiar with their work, you can also ask for references from your friends and colleagues that dealt with these agents and get their opinions.
When hiring a real estate agent in Australia, one must also be aware of the fact that some of them charge upfront, real estate agent fees. Others do not and this is understandable. In case you cannot afford to hire a real estate agent that charges upfront fees, you could always pay a one-time fee to cover all the costs and services.
One can also try asking your real estate agent what is covered by their real estate agent fees. Most agents offer discounts to those who have more than one mortgage application or a house. Some of them even offer special packages to attract homebuyers and sellers that are serious about their home buying and selling.
While it is true that real estate agent fees are meant to be paid once, not twice, you can negotiate with your real estate agent about a possible deal extension. Many agents have no problem offering such extensions. The extensions can range from a few months to a year and the best way to get an extension is to keep in touch with your real estate agent.
Another option is to ask your agent about a discount on their real estate agent fee if you can pay the difference between their commission and the purchase price of the property. There are also real estate agents who allow the buyer/seller to negotiate directly with them. One can also approach the broker and explain how much you are willing to pay for the deal and they would do the rest. or, at least help you with the negotiation.
You could also go online and request a free quote from a different real estate agent. This way you can compare the costs of several agents.
Always make sure that you ask about the real estate agent’s reputation. In addition to asking questions, read the client testimonials and references so you know whether the agent does what they say they do. Also, inquire about the agent’s knowledge of the laws of the particular state.
Last, but not least, ensure that you only deal with an experienced and qualified real estate agent. You should never take the risk of hiring an inexperienced or unqualified agent because these are often people who will not do a good job for you.…Read More