5 Common Gimmicks In Real Estate
/Gimmicks are too common in this industry and give many real estate agents a bad reputation. The reality is much of that is well deserved and very much true. Why? The simple answer is it is true, gimmicks are everywhere in this industry and unfortunately are the more the norm than not. Not with me, I don’t participate or run my business in this manner at all. No gimmicks period!
So what gimmicks are out there that I am referring to or some you may have already come across? Here are the top 5 I see on a regular basis:
- “I Have A Buyer For Your Home” - You hear this all the time but the reality is that the majority of the time it is not true and just used as a bait and switch to get your attention. The gimmick works like this, an agent either calls or knocks on your door claiming they have a buyer for your exact home. Really? You haven’t even look inside? The reality is they are trying to get your attention and get their foot in the door where they promise you the world but only to realize the buyer didn’t exist or had a change of heart. The truth is they don’t exist, it is a gimmick! While a quick sale would be nice I strongly recommend you list your home on the market because the reality is you will have more buyers and offers which would be in your favor. Again don’t fall for that gimmick.
- “The Neighborhood Expert” - Every agent claims to be the neighborhood expert, while technically they can be, the reality is they are trying to be neighborhood experts everywhere. If they really are an expert you more than likely already know of them and should not be a surprise. Instead realize this is just a gimmick to justify them stepping inside your home to convince you you should list your home with them.
- Unsolicited Cold Calls - This is the modern spam except they actually are calling you directly, again this is exactly what gives real estate agents a bad reputation. The reality is they are cold calling, saying the same thing to everyone hoping someone bites. Even if your number is on the “No Call” list the calls continue. Oh and when they call I am sure you will hear of a gimmick listed in the article.
- “If I Don’t Sell Your Home I’ll Buy It” - This is a very common gimmick that sounds too good to be true… because it isn’t true. The reality is they use this tactic to get your attention and get their foot in the door. Now will they actually buy your home? I haven’t met a seller where that has happened or even asking around with other real estate agents I know. The reality is the sale is at a deeply discounted price, probably one you would never consider to begin with along with other restrictions. The gimmick is so common INMAN did a story on it you can read it here.
- Inflated Market Analysis - This gimmick is simple, stretch the numbers on your home to make you think you can get a higher price which leads to you signing the listing agreement. The reality is the tactic is again designed to get your attention, get your hopes high, put a sign in the yard only to find out it is over priced. Eventually you will start to lower the price or sell it at a lower price, probably where it should have been to begin with. The reality is the agent gets a listing they otherwise wouldn’t and gets a sell, even if your original expectations were not met. In other words they will tell you what ever you want to hear in hopes of getting their sign in your yard. They know once the sign is in the yard you are less likely to fire them and change agents, so they collect a commission regardless of the price. This gimmick plays on your emotions of naturally wanting most for your home, only to disappoint you in the end. I have lost business because I refused to pitch this gimmick, I gave them my opinion, which was $70K below what the next agent proposed. The sellers went with the other agent & higher listing price… 4 months later it sold for the price I had suggested from the start.
I flat out do not participate or run my business to fool people with gimmicks to get their attention or business. I focus on honesty, integrity, transparency, full disclosure and seek to educate my clients so they can make an informed & educated decision for themselves. No gimmicks period!
Again I hope this was of value and maybe you picked up a tip or two. My goal is always to be a resource and educate my clients so they can make informed & educated decisions.
Have questions about this or other topics, don’t hesitate to contact me.
Luis Cuevas, Realtor®
RE/MAX Cross Country
1990 Justin Road
Highland Village, Texas 75077
(214) 783-0535
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