Key Red Flags for Seniors to Watch Out for When Dealing With Real Estate Agents While Buying a Retirement Home

Seniors have to deal with real estate agents when purchasing a retirement home. While a reliable agent can be a boon, helping seniors make informed decisions, an unscrupulous agent may try to dupe them. Agents with ulterior motives are easier to spot if seniors know what suspicious signs to look for. As one of the leading retirement homes in Bangalore, we share some important red flags that seniors should avoid when choosing an agent:

1. Lack of proper credentials: Real estate agents must be registered and licensed. Seniors should always check the credentials of any real estate agent to ensure they are authorised by the authorities to handle property dealings. A licence also indicates that the agent is knowledgeable and capable of assisting seniors in finding the right retirement home.

2. High-pressure tactics: Some agents may pressure their clients into making quick, rash decisions. A reliable agent should provide all relevant information and allow seniors to make decisions in their own time. After all, buying a property is a significant decision that should not be rushed.

3. Non-transparent fees: Real estate agents should clearly explain their fees and charges before they begin working with seniors. This level of transparency is often missing in agents who are trying to charge extra or earn more through hidden fees and charges.

4. Poor communication: Many agents can be difficult to reach over the phone or through messages, causing unnecessary delays in the property purchasing process. In some cases, agents may give evasive answers and be reluctant to share complete information with seniors. These behaviours are major red flags that seniors should avoid.

5. Unrealistic promises: Another red flag is agents who make promises that seem too good to be true. Reliable agents will conduct
extensive market research and review properties thoroughly before drawing conclusions.

6. Poor reviews or no references: Experienced real estate agents will always be able to provide references from their previous jobs and should have good ratings online. If seniors find no references or read mostly poor reviews about an agent, it is a major red flag. In such cases, seniors should consider finding a new real estate agent.

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