But, since I abhor lying and can generally tell when someone is lying, in blue below is what a broker out of New York says are the 5 most common lies Realtors tell their clients & he posted it on that Reddit site.
The one that I have to agree with is number 5. When I see listings that are sold without MLS exposure...in house, in a network group, any way that does not give it full exposure...I strongly agree that the listing agent has done a disservice to their client.
The rest.....nah, I don't think that is really happening too much here in our sweet So. Cal market....do you?????
1. They know the value of your property.
The reddit user claimed brokers do not do any real analysis, and simply enter square footage, income and expenses into a software program to determine the value of the property.
2. They are experts in the market, with many transactions to their name.
While some brokers may have years of experience, others just starting out will bulk up their expertise by claiming their company’s transactions as their own, even if they had nothing to do with it.
3. A large brokerage devotes more resources to advertising your property.
The former broker says the opposite is actually true, and large brokerages typically have a more formulaic approach to marketing their properties.
4. The listing price they give you reflects their opinion of the market value.
Even after submitting the info through their software, brokers may not always give the best price opinion since, if they quote a higher list price, they are more likely to win over the seller, the reddit user explained.
5. Decent brokers need an exclusive listing in order to market your property properly. It benefits you because it allows them to create an auction for your property.
Simply put – this is not true. In fact, the user explained exclusives provide very few benefits to the owners, and only weak brokers who lack investor relationships need an exclusive to conduct business.
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