Real estate |Protect yourself against the bluff |The press

Aspirant owners will soon start shopping because they must currently decide whether or not to renew their lease.In this real estate jungle that we have so well illustrated at the last Bye Bye, how can we protect ourselves against the bluff?Expert opinion.

Marie-Christine* found the condo of her dreams in the district she coveted. Un appartement de 650 pi² affiché à 350 000 $.First visitor and without broker to represent it, she notes that the places are empty and makes an offer immediately to the broker who represents the seller.

The professional is convinced that she makes a good offer by announcing that she can move next month and that she will pay cash.She gives the seller 24 hours to answer them.

"I offered $ 330,000," says this press reader on the phone.I started lower, because I was sure there would be negotiation and I would have to add more money.»»

However two hours before the end of the period, the broker tells him that the seller received another offer and specifies that it is higher."I know he is not allowed to tell me that, but I don't hold it against him, because I absolutely wanted the condo.The broker also told me that he wanted me to buy him, because the other offer came from a buyer with broker and he would have had to share the commission.»»

On the other hand, I wonder if there was really another offer on the table.Has the broker amazed?

Marie-Christine*

"Because this possibility that there is another buyer," she said, "put me psychological pressure to accept the seller's counter-offer who was $ 372,000, a higher amount than the price displayed.»»

« Est-ce qu’il y a un moyen de connaître la vérité ?»», demande-t-elle.

Is the truth accessible?

If the current law on real estate brokerage prohibits real estate brokers from disclosing the amount and conditions of other purchase offers, there is no system that allows you to know before the transaction if there has been indeedAnother offer.

However, the real estate broker has a code of ethics which obliges him to collaborate and give truthful information.

Among the rules of practice, there is the one who indicates that a broker must not commit any act derogating from the honor and the dignity of the profession, specifies Denis Joanis, President and chief executive for the association of brokersReal estate from Quebec.

The real estate broker Pascal Saumure, at Re/Max Signature, underlines that he is professionally not desirable for the credibility of a broker to use the bluff, because the evidence is accessible.

"In our practice, the confirmation of the existence of an offer of purchase by another part is made by the Immo-Contact system, which is a text system managed by our real estate chamber, the APCIQ," explains-he.The APCIQ keeps as proof all the messages received and sent by Immo-Contact between the real estate brokers.»»

The appeals to know the truth

"In the event of doubt about the existence of any other promise of purchase presented to the seller, the buyer may refer to the agency manager," supports by email the self -regulatory organization for real estate brokerage in Quebec (Oaciq).The latter has an important role towards the protection of the public.In particular, he must supervise the professional activities of permit holders acting within the agency.»»

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If the buyer does not get a response from the agency manager, he can submit a request for assistance from the OACIQ.

“An analyst will assess the request to verify if the licensee has failed in his ethical obligations. Le processus pourrait mener à une plainte devant le comité de discipline de l’OACIQ ou à un dédommagement du consommateur lésé»», explique par courriel l’organisme.

As part of an investigation, the Oaciq trustee could also contact the agency manager to obtain documents.Collaborating with the OACIQ during an inspection or a survey is one of the obligations of permit holders.

"Once the deed of sale has been signed with the notary, it is possible to know the sale price of a property using the Quebec land register," said the Oaciq.However, it is not possible to know the price of other purchasing promises refused by the seller.»»

For or against the bluff

Formerly, in a market favorable to buyers, nothing prevented them from cheerfully bluffing the sellers by claiming to have had another favorite for a cheaper, renovated and better located house.

The current situation, as we know, is quite different with a sixth consecutive decrease in properties registration for sale on Centris.

Even in the agglomerations located outside the metropolitan regions, the market has overthrown for two years in favor of the sellers.

To make believe that there is another person interested in the good for sale, is it not a classic technique of widespread sale to avoid negotiation?

According to the professor of trade ethics at the School of Management Sciences of the University of Quebec in Montreal Dominic Martin, negotiation is however very healthy during an act of sale.The seller tries to have the best price and the buyer, the lowest price.

"The fact that there is competition between buyers fulfills a function which is to establish the right price and this is not an ethical problem," he said.But from the moment you bluff, it is more difficult to justify in the sale.»»

Giving false information is not only immoral or not ethical, it also bias the mechanism that allows us to converge on the right price, it disturbs market balance.This is what basic economic theory says.

Dominic Martin, Professor in Business Ethics at the UQAM Management Sciences School

The ethical teacher stresses that it is not more acceptable to make believe that several people are interested in a good that we sell on Kijiji or Marketplace.

"We cannot protect ourselves against the bluff," says Martin Desfossés, coach and spokesperson for Duproprio, because the only way to determine whether the person is lying or not to have written proof.»»

As we cannot have access to the seller's thoughts, the coach advises buyers to deal with the facts.

"The buyer must not make an offer according to what he is told, but his needs, his real interest in acquiring property and his budget.When we make the decision for ourselves and without pressure, we are more able to assume our decision, because it is ours.»»

Regarding sellers who display their property on Duproprio, Martin Desfossés specifies that they can disclose or not other promises to buy, the amount and the conditions.

* The first name of this reader who wrote to us has been modified so as not to harm the finalization of her real estate transaction.