3 red flags of dishonest real estate brokers

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The real estate generates tons of money, but that also gives it the reputation of attracting some of the worst people who seek to take advantage of unsuspecting people for money. Illegal activity is rampant within the sector, and you can easily give your money and time trying to follow up on people who do not deserve it anyway.

This makes it vital to ensure the real estate agent you choose is honest with you and not out to con you. You need to also be aware of the red flags when dealing with prospective agents or agencies. Here are some of them.

Cold contracts

If you come across an investment advisor or broker that gets a hold of you without your permission or knowledge, then be very wary. It should be even more suspicious when they get your contacts from companies that have never done business with you before. This applies to every prospective agent, regardless of the method they used to reach you – emails, letters, or phone calls.

Do not accept offers of investment seminars you do not know of, even if they come with some kind of reward. In addition, be very suspicious of agents that attempt to lure you in with high-pressure sales methods or refuse to give you written information about investments.

Dishonesty

This is among the most important things you should do when looking for a real estate agent. You need to establish that they are honest with you and you feel comfortable with them, so do not be afraid to ask plenty of questions regarding what they have to offer.

If the person seems like they are rushing with their answers or are not explaining their position properly, then let them go and look for someone else. You also need to know the commissions or rates they will charge – you do not want to be caught off-guard by unexpected fees.

Conversation also allows you to make unexpected statements and ask them unexpected questions – like asking if there are other brokers in the region you want to purchase or sell houses. If they tell you there are none, chances are high that they are being dishonest and want to handle everything by themselves to get as maximum gains as possible.

Poor reviews

When making a decision, the internet is there to help you – so use it to do some research on the person you are thinking of hiring. You might be surprised to find out the prospective agent has had previous cases of wrongdoing or poor reviews from previous clients, as well as checking their registration status with regulatory bodies in the industry.

When checking their credentials, they need to be registered under regulatory bodies, and this is a way of ensuring they are genuine.

Final thoughts

Getting a good and reliable real estate agent takes time, and you should not be afraid to go through the process. The last situation you want is losing all your money to unscrupulous people, so make sure the person you select is honest and open with you.