IS YOUR REAL ESTATE AGENT CHEATING ON YOU?

Real estate agents have a bad reputation, and in many ways, they’ve earned it. As an industry insider, I’ve seen all ends of the spectrum – from the genuine and compassionate to the self-interested and sneaky.

It goes without saying that Nutshell agents fall under the former.

However, that’s not to say that bad agents don’t exist, because they do. But hopefully they’re a fading breed.

Below we outline how to tell if your real estate agent is cheating on you, and how to demand more from their services.

Real Estate Agents Don’t Get Invited to Dinner Parties

It’s common knowledge that real estate agents don’t have a glowing reputation. Some opinion polls even rank real estate agents lower than lawyers, politicians and advertising professionals on the who-do-I-trust scale.

We have poor education and training programs, and self-interested, lazy and unethical realtors to blame.

This bad reputation is a speed bump I’ve had to navigate a few times throughout my career. I’ve encountered property owners who are suspicious to the point of aggression, and prospective tenants who would sooner believe a Bond villain than myself.

However, with genuine, straight-talking and no-nonsense conversation, they always come around. They realise that the Dodgy Dave reputation is an antique of another time, and that the new breed of agents aren’t salespeople.

How Do I Know if My Real Estate Agent is a Bad Egg?

There are a few red flags to watch out for when you hire a real estate agent in Sydney:

1. When your agent promises they already have a tenant

As a property owner, your primary goal is to find profitable and trustworthy tenants. So it’s understandable you may be excited when a real estate agent assures you they have “the perfect tenant” in their database right away.

However, a real estate agent who promises you a tenant without even seeing your property for themselves should be treated with caution.

2. If your agent lies about your property

Agents have a responsibility to accurately represent your property in online listings. While modern photography techniques can make your property appear larger than it is, if you feel your agent is misrepresenting your property to the point of deceit, you should use caution.

After all, a prospective tenant who arrives to an inspection to find a property that looks completely different to the listing will feel cheated. Your agent should be able to find the right tenant for your property without resorting to dishonesty or selective disclosure in property listings.

3. If your agent doesn’t return your calls

You shouldn’t expect your real estate agent to be available around the clock, but you should expect them to be prompt in replying to your enquiries. The best commercial agents understand that your property forms a significant part of your financial world, and is thus of great importance to you.

So if you find your agent becomes missing in action as soon as you need them, you should start to question their dedication to your best interests. You should expect your agent to return your calls promptly, especially during business hours.

4. If your agent makes decisions without your consent

Sometimes, property owners in Sydney can find themselves in a situation where their real estate agents make significant decisions without their consent. Not only is this disrespectful, it can also put you at legal risk.

While property agents may understand that a lower asking price is likely to secure a tenant, any decision like this must be discussed in detail with the property owner. Other decisions like allowing small pets or including gardening in the rent should always be put past the owner before communicated to prospective tenants.

If you feel your real estate agent isn’t acting in your best interests, get in touch with one of our Nutshell agents today. We’ll provide the service you deserve.

To read more about how commercial property owners can minimise vacant periods, download your copy of our free eGuide, ‘How Commercial Property Owners Can Avoid the Vacancy Plague’ below:



Leave a Reply

Your email address will not be published. Required fields are marked *