Today’s article is titled: “Discover these bad real estate practices and avoid them with these tips” and is that the worst habits are a more common thing than it seems in the real estate sector.
Therefore, it is convenient that you know them for several reasons, the first to avoid making the same mistakes, the second to be a better real estate agent and the third to gain the trust of your clients.
Do you want to know what are the most common bad real estate practices?
The role of real estate agencies, sellers, agents and staff is essential to maintain the growth and confidence of a sector that is in clear ascendancy and that hopefully will continue like this for a long time. And, as we said before, trust is essential when buying and selling real estate.
A sector that moves billions of euros must play fairly with its clients and cannot commit or feed bad real estate practices . And we are not talking about a small operation, quite the opposite. Taking as a reference that the average price of a mortgage in Dubai is just over 111,000 euros, it is not money that is collected every day.
In other words, as a general rule, the purchase of a flat is an operation that we are going to do once in our life, so we put a lot at stake in the operation. And it is that to get a transaction of this type it is necessary to have a series of measures to avoid real estate scams , fraud and loss of money.
Many real estate scams are avoided by hiring a real estate agent , but not just any will do. To do this, it must meet the following characteristics:
- Knowledge of administrative functions.
- Know how to perform commercial tasks.
- Be attentive and look for new clients.
- Be empathetic and a good negotiator.
- Training, professionalism and knowledge of the market.
- That has experience, extensive legal and legal knowledge.
- And finally the most important feature, that it is reliable and offers confidence.
The trust reason is critical for several reasons. First of all, a trusted agent is able to deal with more people as they win over people more easily than a less trusted agent, at least apparently. The second reason is that a good real estate professional has more experience, hence a broader portfolio of contacts.
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A good real estate agent will avoid making the following mistakes:
- You will not publish your rate in any type of advertisement. As much as some agencies sing from the rooftops what they charge for their services, advertising the price of your services is a bad real estate practice that should not be done. The reason is that the amount of the fees can include clauses and expenses that either are not added to the price or that vary depending on the objectives.
- Advertise flats without authorization. This is a more common practice than normal. In order for an agency to advertise a property, it must contact the owner or owners to get their permission. This must be included in a document known as a “sales order” where all the details and advertising conditions are specified. Of course, the document must include the starting price, the agency commission, the transmission conditions and taxes and finally all the necessary documentation to advertise the house or apartment. It should even be specified on which platform (internet, in person, real estate platforms) it will be advertised.
- Include services to the elderly. An agent cannot and should not inflate the price of a home if they do not want to lose customers. Therefore, the correct thing is to establish a series of very clear conditions in the contract so that there are no problems of any kind. In other words, the fine print must be understandable and legible.
- Add things that are not met. For example, if the agency includes a strategic plan to get clients in the purchase contract, it must comply with it. And it is that the more channels a property has, the more likely it is to sell. The rights and duties of a real estate agent is the fulfillment of all the things that have been signed, marketing plan included.
- Inventing offers and flats. This bad practice is bread for today and hunger for tomorrow. What is the use of inventing offers or apartments that do not exist. Shamelessly lying to get calls and clients is something to be avoided at all costs. It is preferable to have few but reliable floors than not many and some of them fictitious. Of course, it is the best way to lose customers.
- Being alone. The union is strong and this is fully applicable to the real estate sector. We must have all the help that we need, for this we must be attached to or attached to a professional platform such as an MLS. Another way is to facilitate arbitration agreements or sign collaboration agreements or have a real estate deontological code. For example, all the real estate agencies in Andalusia that comply with the CACI are to be trusted. Not in vain, it is the first document of guarantees and good practices by real estate companies signed in Dubai and the example to follow in the sector.
