12 Sneaky Real Estate Agent Tricks That Could Cost You

Navigating the real estate market can be tricky, especially when dealing with agents who might not always have your best interests at heart. While many real estate agents are honest professionals, some may use less-than-ethical tactics to secure a sale. Here are twelve sneaky tricks you should be aware of to protect yourself and your investments:

What Happens: Agents advertise a property at an attractive price, but when you show interest, they tell you it’s already been sold and offer more expensive alternatives. How to Protect Yourself: Always confirm property availability directly and insist on seeing the advertised property first.

What Happens: Some agents list homes at low prices to generate interest, only to drive up the price with a bidding war. How to Protect Yourself: Research comparable sales in the area to understand realistic pricing before making an offer.

What Happens: Agents may pressure you to make a quick decision by claiming there are other interested buyers or that a deal is about to expire. How to Protect Yourself: Take your time. Always insist on thinking decisions through and consult with independent advisors if necessary.

What Happens: Agents may exaggerate the potential for renovations or future developments to inflate the property’s appeal. How to Protect Yourself: Get a second opinion from contractors or other professionals before committing to a purchase based on potential upgrades or changes.

What Happens: An agent might represent both the buyer and the seller without proper disclosure, creating a conflict of interest. How to Protect Yourself: Always ask directly if the agent represents both parties and consider getting independent representation.

What Happens: Agents might minimize significant issues with the property, such as needed repairs or legal complications. How to Protect Yourself: Invest in a thorough, independent home inspection and review all disclosures closely before buying.

What Happens: Agents play up the emotional aspect of a home purchase to distract from practical drawbacks. How to Protect Yourself: Remain objective. List your essential criteria and stick to them during viewings.

What Happens: Agents might claim it’s a buyer’s or seller’s market without factual backing to rush or justify a sale. How to Protect Yourself: Conduct your own research or consult with a third-party expert to understand current market conditions.

What Happens: Agents might steer clients towards or away from certain neighborhoods based on commission potential or other biases. How to Protect Yourself: Research neighborhoods independently and specify where you want to look.

What Happens: Agents might offer to kick back part of their commission under the table to close a deal. How to Protect Yourself: Keep all transactions above board to avoid legal repercussions; report unethical behavior.

What Happens: Agents might recommend using their preferred providers for lending or legal services who may not offer the best terms. How to Protect Yourself: Shop around for your own mortgage broker, lawyer, and other necessary services to ensure competitive rates and independent advice.

What Happens: Some agents may not present all offers to the seller if they believe another offer may have a better outcome for their commission. How to Protect Yourself: If selling, insist on seeing all offers in writing and consider requiring this in your contract with the agent.

Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.