real estate agents

Still on the topic of real estate agents, I suppose I could share a bit of my experience of purchasing a property:

You know how they always say that the asking price of your property is cheap as considered to another similar property nearby which is asking for much higher. Well sometimes I suspect this is just a sales tactic to get the buyer to believe that the price is reasonable. I have to admit that this tactic is pretty effective, as it works on the buyer's physcology that if you dont buy it today, the price may be different tomorrow, or some one else could grab it.

Another tactic they use is to say that the highest above cash offer for the property is some ridiculous amount, and that to get the property you have to bid above that. I suspect that is to help the seller get at least a substantial above cash value. As there is no bidding platform to view the latest bids/offers, the agents can come up with a fake amount/bid.

(The above information refers to HDB resale flats only.)

Anybody else would like to share the common tactics that real estate agents use to clinch a sale? I am curious to know.


Victor said…
Another method that the agent or the houseowner can use to create hyped-up interest in the property is to call their friends and relatives to come for viewing at the same time as you. You get the impression that the competition is keen, so if you don't act fast, you think you might lose out. If you are the gan-cheong (hasty) type, then you fall right into their trap.

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