Confessions of a real estate agent

They’re renowned for their slick suits, shiny cars and ability to wax lyrical about anything with four walls and a roof.

But if you caught a real estate agent in a particularly candid moment, what kind of trade secrets might they let slip?

Janet McNeill, of McNeill Real Estate, says creating a sense of urgency is one of the most common tactics used by agents.

“Things like in an open home, the trick would be to say there’s an offer coming in and there might not be,” she says.

Sometimes, Ms McNeill says, agents will dub something a mortgagee sale or a deceased estate, even when it isn’t.

Deceptive photos – who needs power lines in the picture when they can be Photoshopped out? – are also not uncommon, she says.

Less dodgy, but very effective, is posting a property for sale online, then forcing potential buyers to wait nine days or so for the first open-for-inspection.

“It’s just generating that sense of interest,” says Ms McNeill. “All they [buyers] see is a house full of people and think ‘that’s my home, I have to buy it.'”

Another common tactic is for an estate agency to letter-drop an area, and list numbers of local sales and prices.

“They will do a flyer saying how many properties have been sold in the area but they might not be all their properties,” says Ms McNeill.

Russell Cambridge, director of Biggin and Scott’s Richmond office in Melbourne, says female agents can be a major “secret weapon”.

“When it’s us males, we’ve got this neon sign saying ‘beware of real estate agents’. The girls seem to get more information out of buyers than we do.”

Mr Cambridge says his agency keeps a firm track of potential buyers, and knows which properties they’ve inspected, their likely budget and whether they’re really serious about buying.

On open for inspection day, he admits a little “vanilla essence on a baking tray, set to about 100” creates a nice aroma.

And although it’s not something you can bet on, a downpour on auction day can be a winner, says Mr Cambridge.

“If it’s raining we’ll still do it outside – you know they’re serious if they’re out in the rain.”

Ben Munro Smith, of McGrath Estate Agents, has plenty of secrets up his well-pressed sleeve.

One of the simplest is putting the sold sticker and champagne in a prominent spot on auction day to show buyers he means business.

He admits he’ll often go to other agents’ auctions to see who is bidding, taking extra note of the second-highest bidder.

“When they come to bid on one of my properties at auction, I will know where their price expectations are, and even their bidding style,” says Munro Smith.

“Do they go hard and fast, or do they try and win by only bidding at the end?”

There is also plenty of time spent getting to know his buyers. Munro Smith will find out whether “they are married, have kids, love their dog … have a favourite cafe”.

“You can then be very specific when encouraging them to make an additional bid on auction day,” he says.

For instance: “It is just around the corner from Lucy’s school; imagine the time you’ll save with school drop-off.”

“Or, once you’ve bought this place, you won’t be seeing me on Saturdays – you can just walk up to Bertoni’s, grab a coffee, read the paper and relax.”

This article first appeared in www.domain.com