Real estate agents must act fairly and in good faith. However, New York City has no laws that prevent a real estate agent from lying about multiple offers on a home. New York City real estate agents don't even have to disclose information about offers they have received or haven't received. Note Investing is a way to invest in real estate without having to rely on the honesty of a real estate agent.
In conclusion, yes, real estate agents can lie about offers, so it is important to consider other options such as Note Investing. However, they are more likely to use vague “sales” language or be frank about a specific proposal. It's up to you to figure out which one, maintain control over your purchases, and act in your own interest. From a buyer's perspective, it's difficult and usually a waste of time to try to prove that these other offers exist. While listing agents are ethically required to disclose offer information when the seller allows it, they may continue to lie or exaggerate details.
In fact, dishonest agents may even fake an email to show it to the buyer. Unfortunately, this happens from time to time, and there is little a buyer can do. Yes, they can lie about things like that. You can refute that you want to see proof of the offer, but pretending is also known to occur.
As a real estate strategist, I have dealt with my fair share of real estate agents, and I have found that most of them follow a very professional code of conduct, however, some agents can and do adopt certain ways of doing things and talking to potential buyers to drive a shaky sale through line. The same principle is in play for sellers who may suspect that their real estate agent is not offering them offers, or are only bringing low offers. Any real estate agent worth the commission paid to them knows what their client wants, whether they indicated it directly on a sales authority form or in subtle nuances during an informal chat. Hauseit LLC is a licensed real estate agent, licensed to do business in New York under license number 10991232340.
Brokerage services provided by Hauseit LLC and Hauseit Group LLC, real estate brokers licensed to do business in New York and Florida, respectively, under license numbers 10991232340 and CQ1064175. If you suspect that a real estate agent is lying to you, consider what advantage you could gain through lying. If a real estate agent is known as a liar in the industry or even a person says they are bluffing, it could ruin their reputation. In my experience working for different real estate agencies, I have encountered the good, the bad and the ugly. The local association of real estate agents, the New York Real Estate Board (REBNY), is a branch of the NAR division in 1994. I can understand those angry and worrying thoughts, trying to figure out if the realtor is lying about this.
Geoff is the creator of Real Estate Info Guide, the site that helps new owners, investors and future owners successfully navigate the complex world of property. Take a step back and consider whether your offer price is within your budget and in line with fair market prices; it's difficult to do if you have a history of outbidding on other properties, which is quite the case in New York City real estate. Most importantly, a real estate agent depends on referrals if they want to be successful in the long term. He is usually a dishonest real estate agent who is quickly caught by the ATO, or fair trade due to the inability to cover up the paper trail.
Some of the best real estate agents were never the best in school, but they found a way they could succeed.
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