Some unbelievable tricks real estate agents play when you visit the project

Q: Which are the tricks a real estate agent play during visit the project?

Ramesk Polekar, Mumbai

3rd September 2015

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Replies (6)

Bilkul sahi kaha bhai log.........All that Glitters is not Gold.........
There are millions of people in India, who are dealing with legal issues today because the land they bought is disputed, the required sanctions were not taken and many other issues. So just don't feel shy about asking legal documents. There is no hurry in doing the agreement.

Diwakar Shetty,

11th September 2015

Comment

Right Diwakar,
It will save you a lot of money and energy in future. It is not a very healthy sign if the sales person is constantly avoiding the conversation regarding legal documents or if he is doubtful in providing you a copy of the agreement.

visaltanwar, Delhi

11th September 2015

I like the discussion......it is really a eye opener for first time buyers. I would also like to suggest you that do not do any booking only on the basis of the brochure, some presentation or looking at a sample flat.

Make sure you visit the actual project site and see the location, how well connected the area in city, how are the roads, what is nearby the place and other important factors. A lot of people book properties in real estate expo and exhibition, which I don't think is a good idea at all.

Lalit Verma, Mumbai

11th September 2015

Comment

Yes, the way people share their buying experience is appreciable. I am not saying that brochure's are not important. They surely play a big role in marketing and you get a very good idea of what is the project all about, but go beyond that.

Judging a property by just looking at brochure is exactly like hiring an employee by just looking at resume.

visaltanwar, Delhi

11th September 2015

Very well said!!!!
In case of residential flats, remember that the jazzy brochure and the sample flats are created to make good use of the human attention and sell you dreams. What you actually get in reality will not be exactly like sample flats you see.

You won't believe, but there are professionals who are hired by builders to give fascinating presentations to coming buyers, especially NRI. presentations are arranged in 5 star hotels and bills are paid in lacs of rupees.

Lalit Verma, Mumbai

11th September 2015

OMG!!!!!
We only know that we have to discuss with the sale guy on phone regarding the project and rest of the decision made after site visit but the realty is different here. Sometimes, we forget to check the material used in the project, we only see the sample flats in which builder had paid their attention to attract buyers. But the materials used in bulk of flats will be different. They use cheap quality of materials.

visaltanwar, Delhi

11th September 2015

Good morning everybody!!!!!
Don't negotiate with fear in mind that this is your last chance, and so far nothing worked for you. Get ready to walk away right from the beginning. Don't buy builder claims that they are going to increase rates soon or next month, all flats except one sold out, they have enough cash, etc.

Sunil Joshi, Mumbai

11th September 2015

Comment

Good morning Sunil!!!
But sometimes you have to loose the good deal. Most of the times the emergency is not real, its often the created one. Nevertheless, this does not mean that you delay things beyond limit, thinking they will come back to you all the times. If there are other buyers who are ready to buy the property, you will not be contacted beyond the point. So keep a balance.

Nitesh Patil, Pune

11th September 2015

Apart from the above mentioned points, we should also keep in mind that they will ask you for booking amount, token amount, they will give you last date. But do not take a decision in hurry. Do all your investigation, scrutiny, and think on how you will arrange the money. In general one who pays should be enjoying greater power, in reality we do not see that in Real Estate Market. Specially in Mumbai Real Estate.

Lalit Verma, Mumbai

3rd September 2015

Comment

I agree with you Lalit......
And share some information with the other forum members that don't close deal in first meeting. If you do, most probably that means you did not negotiate enough. Last but not least, you have all the negotiation power before handing over the money, once you pay them, your negotiation power is zero.

Manjunath, Bangalore

3rd September 2015

Absolutely no doubt in it........if a sales executive tells you that you have a week's time, multiply it by 10. Some of the things you will hear from sales executive will be as follows :- All the 2 BHK are sold except 3 units. You will either have to book it in next 10 days or go for a 3 BHK. They no you that you don't have the budget for 3BHK.

Out of 100 flats 58 flats are booked already in the pre-launch. This price is only for this Diwali after, which it will go up by Rs 300/sq-ft.

This price is only available for this exhibition because of pre-launch offer, once the actual launch happens, the rate would be atleast Rs 100/sq-ft. more.

Diwakar Shetty,

3rd September 2015

Comment

Right Diwakar,
It is nothing but a sales trick. Now i understood why hey generally ask us to come along with cheque book, so that in order to not lose the opportunity, i will book the property right there and then by paying a token amount. Very clever.....

Nitesh Patil, Pune

3rd September 2015

Yes, that is why i am telling you that If you are seriously looking forward to buy the property and want to get a good deal, then do not show your eagerness to buy. Hide that over enthusiastic and needy person inside you. The moment they feel, that you are already attracted towards the deal, it will be very hard for you to negotiate on pricing and other things, because they are very sure that you will not be stopped by minute points.

Diwakar Shetty,

3rd September 2015

We know that the agents/sales executives are paid commission on closing the deal and they will go to an extra mile to close the deal with us. But we have to show them that we are not in hurry and our life does not depend on the property. We have to show them that we are a serious buyer who is not in hurry and if they have to win us, we will require a good incentive to invest money.

Nitesh Patil, Pune

3rd September 2015

Right Ramesk,
Some of these points are tricks played by agents, and some points are suggestions on what you should do when you meet a builder, broker, agent or sales executive who is showing you or explaining about a project.

1) They create artificial scarcity and try to rush you, 2) Don't show the eagerness to buy, 3) do not do any booking only on the basis of the brochure, some presentation or looking at a sample flat, 4) don't feel shy about asking legal documents, 5) Say that you are seeing other nearby projects as well, 6) Dont be tempted with awesome deals and discounts, they are well designed, 7) Ask which all banks have approved the project, 8) Don't get over obsessed with the upcoming infrastructure.

Diwakar Shetty,

3rd September 2015

Comment

Yes Diwakar,
If you are getting an email from the builders with the list of available flats, area, price per square feet and final price of the flat. You will find out that around 90% of them were marked as "SOLD" or "BOOKED" . This is nothing but artificial scarcity which try to rush you. You had no way to verify if they were really sold or booked by someone. You just had to believe on what the excel sheet told you. This will create a sense of emergency. Almost 80% of the time, this is artificially created by the sales executives.

James, Delhi

3rd September 2015