Dirty Tricks used by Property Agents | Top 3

Top 3 Dirty Tricks & Secrets used by Property Agents

The nature of the Real Estate industry brings out the best and worst of human agents. This is a 100% commission-based job, and this motivates agents to go all out to clinch the deal. So today, I’m going to share with you the top three most commonly used tricks or property agent secrets, so that you won’t fall for it the next time.

📌 Tricks by Property Agents #1:

Ah Beng Flyers

These “Ah Beng” flyers are used mainly in HDB. They are cheap to print and send. A flyer that looks handwritten from fake buyers, usually are agents posing as buyers. Likely, you will end up calling an agent who will tell you that his buyer is currently overseas, and then find reasons to help you sell your unit for commission.

Tricks by Property Agents ah beng flyers
Handwritten letters that are written by property agents posing as buyers.

📌 Tricks by Property Agents #2:

Dummy Listings

These are fake listings, usually with the lowest prices in the market. They are meant to attract your calls. When you call them, the agent will tell you that the unit is sold and they will ask you to view their other listings instead.

dirty tricks by property agents

📌 Tricks by Property Agents #3 :

Exclusive Seller Agreements

These are super-agents who promise high selling prices without strong supporting factors. And they will ask for exclusive agreement from you. The intention is to kick out other agents that you are shortlisting. They want to lock the seller down for three months with minimal effort to market your unit or use it to sell other lower-priced units.

Agents are not magicians. Selling above valuation by $1,000 to $5,000 for HDB and $10,000 to $30,000 for condominium is possible. Any higher pricing requires special elements like sea views or unblocked views.

Tricks by Property Agents

In my entire career, the highest above valuation condominium I sold is about $100,000, and it is because of Fengshui. There are ways to resolve this. You can write to the agent’s company and request for early termination of this exclusive agreement with good reasons.

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Dennis Lim

Dennis has more than a decade of experience investing in real estate. Like many fellow Singaporeans, he grew up in a HDB flat with dreams to live in a condominium. Through careful financial planning & hardwork, this became a reality when he was 30. He now owns 3 private properties in Singapore and has helped hundreds of Singaporeans to achieve their goal of upgrading their homes in land-scarce Singapore.

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