Many internet savvy clients will search for properties by themselves instead of engaging the assistance of the professional agents. They might fall into the trap of phantom ads posted by some not so professional agents.
What are phantom ads? These are ads posting properties which are not in existence or no longer available.
Why would agents want to post phantom ads? The main purpose would be to fish clients. Basically they borrow the listings from another fellow agents and when they receive enquiries they will inform the clients that the property has been taken and how about considering another property. Through this tactic, they can fish clients and hopefully make good catch.
There were also agents who use to post ridiculously lower rates than the peers.
It can be quite annoying for some clients when they realise that they are actually looking at phantom ads.
If you are a buyer of private properties, you do not need to pay commission. to the agents as agents will cobroke with the seller's agent for a cut of their commission. If you are a tenant with rent above $4000, you will also not need to pay the Tenant's agent the commission for the standard lease of two years as most agents will be willing to share commission received from the Landlord. Hence, you can save the frustrations of calling up directly to get non-productive replies. Leave the job to the professional realtors. Professional agents can smell a rat out of the agents who like such type of tactics.
Even if you need to pay a commission, you should discuss with the agents to get value for your money. Most professional agents will be motivated to get commission directly from their clients and you can cut down the conflict of interest as the agents receiving your money are likely to fight for your interest.
Like what they say : what you give, you are likely to take back in a bigger way.
Enjoy your search!
Comments