6 Lies Buyers Tell Real Estate Agents

Truth be told, real estate agents cannot trust buyers. A real estate agent will work hard to match a buyer with the right property only to find out that the buyer was not forthright about the qualifying information. Maybe the agent should have noticed the bills piled up on the buyer’s kitchen table or the 1978 Honda that the buyer is driving. To help themselves conduct the best possible business, a real estate agent needs to be able to recognize the six most common lies buyers tell.

Oh Yes, I’m Pre-Approved

Pre-Approved Real Estate Buyer

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Real estate agents need to remember that words are never as strong as paper. When a buyer insists that he is pre-approved for a mortgage, you should insist on seeing all of his financial records along with the pre-approval letter itself. Well, the pre-approval letter would probably be sufficient, but you should never take any chances with an important issue like this. You can utilize Freedom Soft software to get the proof of funds you actually need.

I Know Exactly What I’m Looking For

Looking for Real Estate

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This could be the biggest lie a buyer will ever tell a real estate agent. The endless hours showing home after home to a buyer who cannot make up his mind eats into quality television and Internet time. The best way to fleece out this lie is to ask the client to list what they want and then completely ignore that list.

We are Making this Decision on our Own

Real Estate Decisions

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Immediately after the real estate agent falls for this lie, he is forced to pack his car with his clients, their in-laws, kids and a man they claim is someone’s uncle. Nothing drags out a real estate transaction like other people’s opinions.

We Have a Great Debt Ratio

Debt Ratio

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When it gets closer to the actual negotiation with the seller, it is a good idea to remind your buyer that a good debt ratio is a low number. You can use the scoring in golf as an analogy, provided your buyer knows how to keep score in golf.

We Have Just One More Question

One More Question

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Every real estate agent knows how “one more question” can keep piling up until the seller finds a new buyer. To help bypass this problem, it is always a good idea to ignore all of the questions your buyer has and just proceed right to the negotiation.

You are the Only Agent we are Working With

Only Real Estate Agent

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This is a very reassuring statement to hear while you are talking on your cell phone to your buyer as he is signing the selling agreement for a different property sold by a different agent.

Real estate buyers and agents need to have an open and honest relationship in order to make sure the buyer finds the property he is looking for. In lieu of the open relationship, an agent needs to develop experience in deciphering the most common lies buyers tell.

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