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ASK THE EXPERT – The Art of Lying
Q. Estate Agents have a reputation for lying, falsifying or using information in a manner that deceives the general public, can you give me examples of this sort of practice and how best to spot the rogue agent.
A. Unfortunately some Estate Agents will do anything to get an instruction. In March 2006 the BBC’s Whistleblower programme did an undercover documentary that found Agents lying to customers, faked signatures, false passports and dodgy deals with developers. The undercover investigation revealed the secret world of estate agents' dirty tricks
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Here is one example found by the reporter: ‘Once they value a property and get the owner to use their services, they then lie about offers they haven't had.
Then after a while, when the owner is utterly desperate to sell, they make up false offers well below the original valuation so the owner reduces the price. The manager called it "price reduction hour" and "vendor care" - everyone else calls it lying. ‘
Another: Faking documents, ‘lettings staff jump up and down in delight after they successfully fake a signature on an absent landlord's paperwork.’
Another: Backhanders from developers, ‘It wasn't long before I found agents asking for cash backhanders in return for cheating owners out of tens of thousands of pounds.’
Another: Best agent in area, taking a single day 'snap shot' of properties that they have available on the internet and then telling their prospective clients that they are the most popular and preferred agent in the area so they would have more chance of selling if they listed with them.
Another: Fictitious purchaser, they will tell owners that they have the perfect purchaser for their property if you give them instructions to sell. Only the ‘couple’ who eventually turn up to view for some reason find that it is not the ideal property for them after all. Surprise, surprise!
My advice to anyone who encounters any of these sorts of practices by an Estate Agent is to steer well clear of dealing with them as there are plenty of other experienced, honest, well run, established Estate Agents who do not use these sort of practices such as your local TEAM agent.
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