The Liberal Government both at the Federal and provincial level as well as Mayor of Toronto seem hell bent on bringing down the prices of real estate to make it affordable for everybody. In some imaginary world this is going to stick. The problem is with their plan is...read more
When you list your house you obviously want agents and people to be coming to your house to see it. While the first weeks are very important for traffic, too much traffic in your house with no offers can be a sign that your agent is misrepresenting your house in the listing on MLS.
What some agents do is take a listing, misrepresent the listing, then when there are little or no offers, they say the house is over-priced and start haggling you to lower the price. Agents that take listings for little or no commission do this to get buyers and make money on the other end of the deal. They take a bunch of listings and hope that one hits or they get buyers. They purposely do not take proper pictures or none at all and do not promote or showcase your property or leave vital information out of the listing. While it is great to get a deal on your agent, for the most part you pay for what you get in this world, even if the agent is making money on the other end.
I’ll give you an example. I went to a listing with a buyer last week. The listing said 3 washrooms. The listing agent omitted the fact that one washroom was in the basement with no shower, the other washroom was on the main floor 2 piece, and there was only one upstairs with 3 bedrooms.
Another listing we saw was the exact same situation but they said 2 piece on main, 2 piece in basement and 4 piece upstairs with 3 bedrooms. We did end up going to view the property to see if we could put another washroom upstairs, because the closet space was not needed and it was a very big closet.
The first one that deceived us, was already in our bad books when we started to look around because we were not told the whole truth in the listing on MLS, and we started to carefully examine everything else to see what else was misrepresented.
We might have not gone to see the house if we knew the truth because it was not in our criteria, but agents think that by us seeing the property and showing his client that there is traffic to the house, or that we might fall in love with it by some chance. The exact opposite is always true. The agent wasted our time, his clients time, his office’s, my office’s time and my clients time. There must have been 50 other agents cards there as well. 15 days on the market, with that many agents, there should have been a sold sign on the lawn. I knew right away why the property did not sell.
The question you must ask yourself is your agent misrepresenting your house on MLS?
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