This from Greenhorn at RE Talks 25 Mar 2010 10:04 am -
“At breakfast this morning, I could not help but listen to the conversation at the table next to me. It was between a Middle-eastern couple and a Middle-eastern realtor. The realtor was putting the hard sell to the couple regarding a Vancouver condo. He was advising that prices will continue to go up. He mentioned that if they furnished the condo, they would triple the rent, easily. He said “This is the last prime condo building in Yale Town”. He asked them how long they would be in town for, and they said 2 weeks. I heard him advise the couple to buy the property with a line of credit because the interest rate would be lower and it would be interest only, so a lower monthly payment. They then told the realtor they would think about it, and had to go. As they were getting ready to leave, the couple asked the realtor if he was going to pay for breakfast and he said yes. The lady then asked for a latte to go. Classic!”
fortunately (for the realtor) the couple did not order a takeout meal for their kid who is waiting for them at home/hotel
Such a story is informative because, in my opinion, Realtors should never be “hard selling” their potential clients. There is too much conflict of interest and puts into question how professional many of them are.
When a Realtor turns the price screws on buyers, it’s a very bad sign. The good ones keep themselves generally impartial and they are explicit about what form of advice they give (and yes these good ones do exist!).