Thursday, August 25, 2016

Ethical and unethical property agents

I made this posting and received many feedbacks.

For property agents who made rude remarks, I like you to reflect on the following points:

1. I did not say that selling a property is easy or that a commission of $10,000 is too high.
2. I did not say that the practices are unethical or that all property agents are unethical.

I did say the following:
1. Some property agents oversell a high priced property to a prospective buyer, beyond the financial means of the buyer, using the marketing techniques that I have described here
2. They could be over-enthusiastic in working for their sales target and commission goals and may not be aware about the negative impact on the buyers.
3. Buyers should be aware of these marketing techniques and avoid signing on the dottd line due to some perceived discounts or special offers.

Most ethical property agents will probably agree that there are black sheeps that is spoiling their reputation (like in any other trade). Usually, it is the sales driven agents that are offended by the types of observations made by me.

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