I don't really have a question more of just starting a discussion that brings some sense of reality on how real estate agents posts ads. I have been looking at a property that just seemed golden for the past couple months. The price was right, it met all the "rules" and every picture of this property just looked pristine and beautiful. It finally went down in price 5,000 dollars and I just had to bite even though its a duplex and I am looking for a quad. Heres where things get pretty crazy. In the ad on trulia it states "This is a great cash flowing investment property. All the work has been done!" I'm getting pretty excited about this property and I am immediately let down with an initial response after an inquiry to the real estate agent that states "The property does need some work. are you open to that?" All sorts of things are running through my head. Is this guy really for real? He is supposed to be a professional real estate agent and blatantly contradicts himself from the ad vs. what he has said in the email. What gives? Is this a real estate tactic to get people to bite on properties or am I just making a bigger deal out of this than it actually is and has anyone else had similar misleading situations?
Welcome to Real Estate!
First lesson I learning, if it is too "good to be true" and still sitting around! IT probably is! LOL
Look at the positive side. If the house is being advertised as in "perfect" condition AND not being taken. That means that it is appealing to "turn key" people and not fixers.
so look at the property assess the work and mark off the property accordingly. You might be able to get an "awesome" deal because its mislabeled.
Ha, the agent description can be a joke at times. I looked at a listing last week where the agent had written from the outset "this won't last long"; I looked at the DOM and it was over 150 :)
Took the bite on a property with rents listed, when we got a copy of the lease, the rents were 15% less/month! Did they think we wouldn't notice? Still waiting to hear back...
Well now you know which agent to avoid, if any of my agents had done that they would have had me handing their license back to them and my saying good luck with your next broker.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!