Is this real estate agent being truthful?

fdsfef wrote:

Hopefully the agent is being truthful. I sold my house a few months ago and had 6 or 7 offers within a few days of listing. If it's a nice condo in a desirable location and the price is competitive, I could see multiple offers.

Your agent was certainly not truthful.

wterhgw wrote:

I am looking to buy a house out of state. I found a condo online last week that fit my budget. When I called the real estate agent he said "I have three other potential buyers. You need to make an offer today". Do people actually make offers on a property the same day or was this just a tactic by the real state agent?

Three other potential buyers means... "I've talked on the phone about this property with three people." Or, "I had an open house last week and three people showed up." Or, anything along the lines of the agent has talked to three people and they are considering them potential buyers. There's also a chance they are being honest and there are three serious buyers. I'd say that's not the case. If you really like it and are worried you could always make a verbal offer over the phone. If there's no paperwork you can always back away without any consequences. It might be a shady, but it's not illegal and you have no liability.

I suspect this property has been on the market for a while so the agent wants to finally get paid for doing multiple open houses over the course of a few months.

wterhgw wrote:

I am looking to buy a house out of state. I found a condo online last week that fit my budget. When I called the real estate agent he said "I have three other potential buyers. You need to make an offer today". Do people actually make offers on a property the same day or was this just a tactic by the real state agent?

Had a friend fall for the same line. Big mistake.

Realestate agents are all lying weasels.

wterhgw wrote:

I am looking to buy a house out of state. I found a condo online last week that fit my budget. When I called the real estate agent he said "I have three other potential buyers. You need to make an offer today". Do people actually make offers on a property the same day or was this just a tactic by the real state agent?

The agent never said that they had offers, just that they had potential buyers. Everyone who walks through the front door of the house is a potential buyer unless they scream "Oh God, no, no, NOOOOOOOOOOO" and run out the door.

Don't depend on hope wrote:

fdsfef wrote:

Hopefully the agent is being truthful. I sold my house a few months ago and had 6 or 7 offers within a few days of listing. If it's a nice condo in a desirable location and the price is competitive, I could see multiple offers.

Your agent was certainly not truthful.

How was my agent not truthful? I saw all of the offers and we accepted the best one which was $10k over asking. You're a moron.

fdsfef wrote:

Hopefully the agent is being truthful. I sold my house a few months ago and had 6 or 7 offers within a few days of listing. If it's a nice condo in a desirable location and the price is competitive, I could see multiple offers.

Don't depend on hope wrote:

Your agent was certainly not truthful.

fdsfef wrote:

How was my agent not truthful? I saw all of the offers and we accepted the best one which was $10k over asking. You're a moron.

The agent was not truthful because you had 6 or 7 offers within a few days of listing, which means you listed wayyyyyy below the market value of the property. Yeah, the price was definitely competitive. Good grief. And now you're in a bad mood because you know you got screwed.

How much over what you want should you list"

5%10% 20%

I set the UNpublished reserve at X and the ask at X+20% wrote:

How much over what you want should you list"

5%10% 20%

dang

Elvin wrote:

If there are that many people making offers so quickly, the agent has done a crappy job of setting a price and advising his client. Getting multiple offers immediately means that you should have listed at a higher price. He's basically admitting to sucking at his job in order to push you.

Lol, you obviously live in a craphole place if you’ve never heard of buyer’s and seller’s agents. Hope life isn’t too boring in whatever flyover state you’re in.

Essentially, no, they are being dishonest in that you are under no obligation to make an offer.

Of course it's a tactic.

When my parents sold their house earlier this year, I saw real estate agents come and go to show the property

to prospective buyers dozen's of times.

Most seemed decent and friendly but a few I later learned came off as incredibly arrogant to my mom.

They are in a profession where they only earn when they sell.

They are solely concerned with their bottom line and that means offers on property's they list.

This translates into a 'me first' attitude.

Agents would talk to my mom and discuss their fee first.

Their was often an assumption of their superiority and they would frame conversations from a perspective of how they were extremely qualified to sell, how my parents needed them and would be lost without them. Fear tactics.

My parents may not have been the most business say people themselves but they did eventually sell the house on their own terms. The buyer got a good deal and the market was a buyers market. But my parents ultimately got the sale done without an agent and that was best for them.

Just for the hell of it, I'll add how I'm glad I pissed off a few arrogant realtors

by calling the agency's they represented, discrediting them and insulting them,

all because I didn't care for their tone or how they communicated with me.

I was the go between at times between my parents and some realtors

because I was living at the house while my parents lived elsewhere.

I agreed to show the house with my parents but there were some agents who were

so arrogant that I felt I had to do something. Having a lot of time on my hands, I did just that.

Hard to say. When was it listed? Has the price dropped? Is it less than comparable properties? You seem to have zero relevant information or haven't listed it here which leads me to believe you don't have it and thus don't really know what you are doing. Suggest you get a real estate agent in the area you want to buy to guide you.

They may not have lied. I worked as a real estate agent and you would be amazed how many people don't turn up for the appointments they've made. If the agent lies and says people had viewed when they feedback re: open house then obviously that's not OK but it is likely they are as disappointed as me. I left it because now I invest only in real estate and it brings me a good income and I don't need to work anymore. If you want to find a house at the best price and fast, search on https://www.jprealestateexperts.com . Here, I found all my real estate.

No (I came up with this answer before opening the thread).

paradigmus wrote:

They may not have lied. I worked as a real estate agent and you would be amazed how many people don't turn up for the appointments they've made. If the agent lies and says people had viewed when they feedback re: open house then obviously that's not OK but it is likely they are as disappointed as me. I left it because now I invest only in real estate and it brings me a good income and I don't need to work anymore. If you want to find a house at the best price and fast, search on

https://www.jprealestateexperts.com

. Here, I found all my real estate.

Ohh, I don't like the people who bump the old threads. Better to create a new thread not replay here.

It's funny that an ad bot bumps this thread, but the market has changed a lot since the 2019 thread started.

Now houses are getting multiple offers day one all over the country.

No point in seriously looking at a house unless you are ready to make an offer that day.

I saw dunes runner pop up on the comments and was shocked. Then I realized this is an old thread.