I suppose the question should be “why aren’t all realtors ethical?” But sadly they aren’t and it can be a minefield working out which Vancouver realtors are the ethical ones and which ones are to be avoided.
Working in the Vancouver real estate market is a great example of what should be a win/win situation; it’s a realtor’s job to make sure that the seller and buyer are both happy with the deal they’re getting; by default you end up with two happy realtors too!
Where you start to get issues is when one (or both) sides stop playing ball and decide to get too greedy for themselves demands are all signs that a realtor may not be as ethical as they should be.
On the other hand, if your Vancouver realtor is transparent, realistic, and punctual and keeps you informed you can rest far more assured that they are doing the right thing for you.Warning signs
Aside from the above, there are several warning signs that you should watch out for. Agents who oversell and misrepresent their offers are a big no no, as is an agent who condones one buyer putting multiple offers in on different properties to hedge their bets.
Is your agent willing to present your offer as non-contingent even though you have a property to sell before you can move on? If so this is a sure sign that you’re dealing with a cowboy or girl rather than a reputable, ethical Vancouver realtor.
Then we have the classic trick of over egging the buyer’s interest in a home or the offer of a cash sale when in fact the buyer will have to secure a loan/mortgage to pay for the purchase.
Major warning signs
There are true horror stories out there about realtors forging documents like pre-approval letters, solicitor’s letters and even letters from their bank; this could have serious ramifications for all involved and is right at the other end of the ethical spectrum.
If your agent is willing to lie and cheat when dealing on your behalf, it’s clear that you have no reason to not think that they are doing the same to you. It’s clear that any unethical Vancouver realtor is simply out for themselves with that original concept of the win/win situation we talked about earlier not even registering on their radar.
Make sure you do your research and select a reputable, ethical Vancouver realtor.