Canada's biggest
scammers reside in the real estate market
In Canada, Real Estate is a multibillion dollar industry.
Buying a house will most likely be your biggest purchase and everyone who is in
the industry wants a piece. Your real estate lawyer wants a piece, your real
estate agent wants a piece, your mortgage broker and lender wants a piece, MLS
wants a piece, home inspectors, and the seller wants a piece and who is
single-handedly going to pay all these people? You are!!!!
If you deciding to purchase a house, chances are you will start searching
through the internet. You will most liley first run into MLS which appears to be
an informative web site that contains all the houses listed. Well, it does not
and the information they provide is not complete. Why? Because MLS is really
just a front to attract you to real estate agents. How many times have people
gone through MLS before thinking Real Estate Agents is the way to go....
You may even run into a site named howrealtorshelp. I am not going to link to
it, but you'll be able to find it google searching it. That site shows a bunch
of real estate agents smiling and appear really trusting. Yet, they are only
human.
Without
further ado, here is your first and most important lesson to learn:
Your Buyer's Real Estate Agent is not on your side, your buyer's real estate
agent works for the seller.
The Buyer's Real Estate name is so deceiving, you think a buyer's real estate
means the agent is on the buyer's side. You would think that as the buyer
because you selected the agent that the buyer's agent is actually there to help
you, but nothing, absolutely nothing can be further form the truth!
Everything your buyer's real estate agent does for you, is actually doing for
the seller.
The buyer's agent is designed to lure buyers for the seller.
Why? Real Estate Agents and sellers have a common mutual goal. To sell the house
at the highest possible price. Doing so benefits them. It clearly does not
benefit the buyer.
Why would a buyer's real estate agent try to help the buyer get the lowest
possible price when that only hurts his comission???
Now, I could be generalizing too much. There are buyer's agents who really do
work for the buyer and really do genuinely help the buyer get the
best deal. I generalize so that you can be cautious and not be too trusting when
selecting random strangers as your agent. Agents has been trained whether by
experience or knowledge to work for you, the buyer, whether they are pretending
or really interested is hard to decipher. Read my other articles on how to
select the good ones from the bad ones.
Oct. 7, 2011
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