Cape Coral Property: Uncovering Unethical Real Estate Practices

Posted by Mary Ray on Sunday, June 26th, 2011 at 9:49am.

Cape Coral Property: Uncovering Unethical Real Estate Practices

 

The "marketing technique", and I use the term loosely, of bait-and -switch or other unethical, shady practices have been around since the first person ever decided to exchange currency for goods. In the world of Cape Coral real estate, unethical tactics usually take the form of amazing deals that sound "too good to be true." Unfortunately, many a naive home buyer has fallen prey to these schemes, so we're going to break down the mentality behind a few of them today. Ready for the excitement?

Cape Coral Real Estate Tactic #1: The Bidding War

Okay, so we've all heard the term, "If it sounds too good to be true, it usually is." Do yourself a favor and take that statement to heart. Cape Coral properties that are offered at ridiculously low prices can have a variety of reasons. One of the most common, is to spark a bidding war.

Of course, from the seller's end, bidding wars are wonderful, and what good would a listing agent be if they didn't try to get the highest possible price out of the Cape Coral property they have listed? As a buyer, your best defense against a bidding war is simply to be aware of the fact. Avoid becoming emotionally attached to a prospective home. It could be the ideal Cape Coral waterfront property with exactly the square footage and in the right neighborhood, but if a bidding war is going to drive the price up substantially, it's best to bow out of the deal.

Cape Coral Real Estate Tactic #2: The True Bait and Switch

Yes, the true, authentic bait-and-switch still lives. Here's how it's done in real estate. Unscrupulous agents or agencies will advertise beautiful 3 bedroom, 2 bath pool homes for under $55,000, or waterfront homes for under $150,000. This is a lure, the true bait-and-switch. Here's how it will go down.

Joe Buyer will call the real estate agent and be invited to come in and talk to the agent. If Joe Buyer has been using another agent, there will most likely be side comments made like, "Oh, I can't believe your agent isn't showing you the deals that are available right now!" Excitedly, Joe Buyer rushes over to the new agent's office, only to be driven around town and shown homes in need of major rehab work. Of course, Joe Buyer is disappointed. "No worries! If you'd like to go up in price about $50k, I can show you some really sweet deals," says Mr. Unscrupulous Real Estate Agent. This dance will go back and forth a few rounds until Joe Buyer either walks away wondering if all real estate agents operate in this crazy fashion, or Joe Buyer will crack under the pressure and make an offer on a Cape Coral property that he really can't afford.

Ethical Cape Coral Real Estate Agents

I hope this article has enlightened, if not slightly entertained, you about some of the practices that some people are still trying to get away with. The funny and somewhat sad part of it is the fact that Cape Coral property (especially Cape Coral waterfront property) is such an excellent investment that these insane tactics are a waste of time and completely unnecessary. At Sporleder-Ray Realty Group, we just refuse to operate that way. The agents here live, work, and play in beautiful Cape Coral, Florida and we absolutely love it here. Cape Coral property prices and interest rates are lower than ever, the economy is on the rise, and Florida is one of the top 5 states for budding businesses. The time is right to invest in your own slice of paradise. Call our offices today. No, we won't try to show you Cape Coral waterfront properties for $50,000, but we WILL help you find the exact property that is right for you.

By David Sporleder | Sporleder-Ray Realty Group | david@davidsporleder.com| Google+

 

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