Believing the words of dealer I unknowingly agreed to deal of 2900 for my 2 Bhk flat. Fortunately while doing search on property site I found my flat listed at a price of 3100. I immediately called up my dealer and cancelled the deal. My learning was search on mutiple platforms or from different sources before believing words of dearler. Never ever believe the artificial hype.....

I don't think we have listed down common ploys used by Property dealers to cheat unsuspecting buyers.....
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  • Originally Posted by New banda
    Believing the words of dealer I unknowingly agreed to deal of 2900 for my 2 Bhk flat. Fortunately while doing search on property site I found my flat listed at a price of 3100. I immediately called up my dealer and cancelled the deal. My learning was search on mutiple platforms or from different sources before believing words of dearler. Never ever believe the artificial hype.....

    I don't think we have listed down common ploys used by Property dealers to cheat unsuspecting buyers.....


    Sir if i get what you are trying to state: even before your flat deal could be done the dealer listed your flat as his and listed at better price than what was offered to you.

    Sir isme cheating kaha se aa gayi.....couldn't quite understand what is your concern?
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  • Could you please tell me which project you are referring to?
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  • It is quite clear that you are demanding 2900 psf.
    By seeing the market rate and response to the project, the dealer must have quoted 3100..
    In that case the dealer may be confident that he will be able to sell the property at 3100.
    But my question is the buyer will pay the entire amount to you, not to the dealer how he will get the profit?
    He can ask for more commision from you since he sold the flat at a higher rate than the price you have quoted.
    Please check the prevailing resale rates for the project befor doing the deal.


    Originally Posted by New banda
    Believing the words of dealer I unknowingly agreed to deal of 2900 for my 2 Bhk flat. Fortunately while doing search on property site I found my flat listed at a price of 3100. I immediately called up my dealer and cancelled the deal. My learning was search on mutiple platforms or from different sources before believing words of dearler. Never ever believe the artificial hype.....

    I don't think we have listed down common ploys used by Property dealers to cheat unsuspecting buyers.....
    CommentQuote
  • Originally Posted by Ram.bharose
    Sir if i get what you are trying to state: even before your flat deal could be done the dealer listed your flat as his and listed at better price than what was offered to you.

    Sir isme cheating kaha se aa gayi.....couldn't quite understand what is your concern?



    Sir, What am I trying to say is very simple....as a buyer if somebody is convincing you to sell your flat to fictious seller at lower price & then going in market looking for a prospective buyer is not a fair thing to me....Dealer intention was to keep the diffrential amount...Sir aam admi ki jubaan main isse cheating kehtey hai...

    Not sure about you but most of times we buy what they sell to us... In my case they sold me recession and a very bad picture related RE..My intention was to share my experience.
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  • Tell him you want to buy a unit at some other location, He will show you the rosy picture :-)
    Originally Posted by New banda
    Sir, What am I trying to say is very simple....as a buyer if somebody is convincing you to sell your flat to fictious seller at lower price & then going in market looking for a prospective buyer is not a fair thing to me....Dealer intention was to keep the diffrential amount...Sir aam admi ki jubaan main isse cheating kehtey hai...

    Not sure about you but most of times we buy what they sell to us... In my case they sold me recession and a very bad picture related RE..My intention was to share my experience.
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  • Originally Posted by MNairK
    It is quite clear that you are demanding 2900 psf.
    By seeing the market rate and response to the project, the dealer must have quoted 3100..
    In that case the dealer may be confident that he will be able to sell the property at 3100.
    But my question is the buyer will pay the entire amount to you, not to the dealer how he will get the profit?
    He can ask for more commision from you since he sold the flat at a higher rate than the price you have quoted.
    Please check the prevailing resale rates for the project befor doing the deal.


    I presume he wanted me to do the entire deal with him instead of the new buyer.
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  • This is a common practice in RE. I have seen brokers cheating threir own relatives and friends as well. So, you should never believe brokers. Try to sell your property directly through 99 acres or magic bricks, if dont get any success then approach these brokers.
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  • market Research

    Over last 5 years or so I have been involved in selling scores of properties, mine or on behalf of my immediate family. The process I have followed is
    1. Check the rates of your property from all possible sources ie. dealers (atleast 10), property websites, advertising in the newspaper and other similar properties advertised in newspapers or websites.
    2. Reach a fair value for your RE
    3. Reach all possible dealers / sources as mentioned above, quote 5% higher than fair value and make it non-negotiable till 2 to 3 weeks. Do not worry about when people sell "aapki property to market mein sab ke pass hai" etc. rather if humanly possible let every living human know about it :D
    4. Incase you are not able to sell keep reducing by Rs 50 psf or 2% or so till you are able to sell or you have reached about 5% lower than what you had determined as fair value.

    The process has till now given me satisfactory results.
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  • Thanks,The post was useful.Infact not exactly in such an organised manner ,I did dispose some property.I kept testing the market through varios dealers as a fictitious buyer and a genuine seller for about 7 months till ,I had a fair idea of the market and then laid a non negotiable price of about Rs 100 per sqft higher and did think about bringing it down a notch by 50 psf to get the best possible rates.Surprisingly all brokers kept going to one particular area broker who kept ringing me up ke finally mere paas hi anna hai.

    I called him for a meeting but before we could fix up ,I got a quote of rs 150 psf more than he had quoted and finalised the deal.
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