What can you not say in real estate?
Never answer their questions with anything but a vague chuckle or “not sure”, unless it's a yes/no answer kind of question. Don't tell them what you're up to, how you're feeling, what you're thinking, why you're selling, what you'll accept price wise, or what your future plans are.
Real estate agents could face fines as high as $110,000 for using certain wrong words in their listings, and C) how innocuous many of the words are on HUD's Fair Housing 150-Banned Words/Phrases List, such as: Board Approval, Couple, Disabled, Employed, Empty Nesters, Exclusive, Executive, Families, Family, Golden Age, ...
So for agents, answering any inquiries about them can be risky, even if a buyer's asking out of curiosity. This may include questions such as, “Do families with children live in this area?”, “Is this a good place to raise kids?”, or “Is this a good place for me as a single?” and other similar ones.
- What you think your home is worth. ...
- Your need to sell quickly. ...
- Plans for upgrades before selling. ...
- Non-mandatory legal information about your property. ...
- You're okay with an inflated history of dual agency. ...
- Your lowest acceptable selling price.
“Oh yeah, in real estate advertising, you'll definitely pay fines if your ad includes words like empty nester, no children, perfect for two, golden age, mature, cripple, religion or religious . . . and there are others,” she answered.
Phrases and Words To Avoid
“No pets” is okay; “no children” is not. It is also illegal to advertise for a “Christian roommate,” or to indicate any other type of religious preference. HUD provides Fair Housing advertising guidelines as to what is acceptable in Fair Housing advertising.
There is an old adage, that the three most important words in real estate are 'Location, Location, Location'.
- Septic systems.
- Solar leases.
- Failure to disclose and Seller's Property Disclosures.
- Water rights.
- Miscommunication.
- Agent-owned property and additional supervision.
- Multiple offers.
- Unpermitted work.
Three common mistakes that agents make is inadequate prospecting, failing to market properties in ways that lead to fast sales, and not following up with clients. Real estate agents must be motivated because generating leads and marketing listings takes creativity and hard work.
Unethical agents will often use fraudulent misrepresentation to win a listing, sell a property faster, or push for a property to sell faster. Such actions violate ethical standards and are illegal in many jurisdictions.
What do realtors struggle with the most?
- Long Hours. ...
- Time Management. ...
- Maintaining Client Relationships. ...
- Market Fluctuations. ...
- Strong Competition. ...
- Succeeding in Real Estate.
Real estate agents don't need, or expect, you to disclose everything about your money. That said, they must understand your overall situation to help guide you to a home that's within your budget.
Realtors, in general, expect to work weekends, when they are showing houses to people who work on weekdays. It is not rude to call them on Sunday unless they have specifically told you that they do not work on Sundays.
Why the shift of name? The shift from “master” to “primary bedroom” has been made due to negative implications and perceptions involving the word “master.” Consumers and real estate professionals realize and understand the term “master” as something racist and offer a sexist implication.
In real estate, a “disclaimer” typically refers to a statement or document provided by the owner of the property (or their agent/broker) that includes specific information about the property, with the intent of clarifying certain aspects of its condition, history, or legal status.
Only advertise listed properties with authorization from the listing agent. Identify yourself as a real estate agent and include the name of the brokerage firm you work within all advertising. Be totally honest in your advertising by avoiding exaggerations and misrepresentations about the property.
block·bust·ing. : profiteering by inducing property owners to sell hastily and often at a loss by appeals to fears of lowered values because of threatened minority encroachment and then reselling at inflated prices. Note: Many states have statutes prohibiting blockbusting by real estate agents.
Housing providers who refuse to rent or sell homes to people based on race, color, national origin, religion, sex, familial status, or disability are violating federal law, and HUD will vigorously pursue enforcement actions against them.
Examples of Discriminatory Advertising
Examples include statements such as “no kids,” “Christian housing,” and “English speakers only,” all of which could be considered unlawful forms of advertising.
If you've been working as a professional marketer anytime in the last 60 years, you are likely familiar with the four Ps of real estate marketing: product, price, place and promotion.
What are the 4 pillars of real estate?
The 4 pillars of real estate include: cash flow, appreciation, amortization and leverage, and tax benefits.
Three Pillars of Real Estate Investment: Income, Appreciation, and Tax Advantages.
One example of misrepresentation in real estate is marketing a rental property as new, despite its being occupied for years. Another example is selling a piece of property with an undiscovered defect, e.g. a leaking roof.
- Failure to Supervise. Failure to supervise violations occur in two scenarios. ...
- Unlicensed Activity. ...
- Misrepresentation. ...
- Criminal Conviction.
Disputes between REALTORS® must be resolved through mediation and/or arbitration procedures established in the NAR Code of Ethics and Arbitration Manual. Many civil court systems across the United States have adopted some form of DRS. Generally, DRS is triggered at the time the lawsuit is filed.
