Have You Ever Woken Up To Find A For Sale Sign In Your Garden?

Mary and John had been dreaming of their perfect home for years. To turn this dream into reality, they decided to sell their current house and use the proceeds to finance their new abode.

Excited but slightly nervous, they began their house-hunting journey, visiting various properties with the help of real estate agents. However, little did they know that some of these agents were not as honest as they seemed.

At each viewing, the agents would shower Mary and John with compliments, telling them how perfect each house was for them. They would even encourage them to make offers, assuring them that they were in with a good chance of securing the property.

Unbeknownst to Mary and John, these agents were actually taking advantage of their eagerness. They knew that Mary and John wouldn’t be able to afford some of the properties they were showing them, but they didn’t care. Their only goal was to lure Mary and John into putting their own house up for sale.

One particular agent, let’s call him Mr. Smith, seemed especially eager to help Mary and John find their dream home. He showed them a beautiful home that seemed like it was straight out of their dreams. Mary and John fell in love with it instantly and eagerly made an offer.

Mr. Smith accepted their offer with a smile, but behind his facade, he knew he had no intention of actually selling the home to them. He had already received another offer from another buyer, ready to purchase. He was using Mary & John’s offer as leverage to get the other buyer to a higher level, and he had no qualms about stringing Mary and John along until he secured their listing.

Meanwhile, Mary and John were over the moon. They started making plans for their new home, imagining themselves sitting by the fireplace on chilly evenings and tending to their garden on sunny weekends.

Their excitement was short-lived, however, as Mr. Smith eventually broke the news to them that their offer had been rejected. Mary and John were devastated. Not only had they lost out on their dream home, but they were now also faced with the daunting prospect of putting their own house on the market without a new home to move into.

Feeling frustrated and betrayed, Mary and John realised that they had been taken advantage of by unscrupulous agents who cared more about their own profits than helping them find a home. With no other choice, they reluctantly put their house up for sale, but the spark of excitement that had fuelled their dream was now overshadowed by disappointment and uncertainty.

In the bustling Dublin property market, tales of rogue agents and their unscrupulous tactics seem to be increasingly commonplace. As the city grapples with a severe shortage of housing, buyers (who have to sell to buy) find themselves in an intense bidding war, only to discover that their dream home has slipped through their fingers to someone else. But here’s the twist: the property wasn’t ever going to be theirs. They are subject to sale and their house is not even on market yet.

Time and again, we hear from clients who have fallen victim to these dubious practices. They recount stories of bidding wars, heartbreak, and ultimately, waking up to the sight of a “For Sale” sign planted in their garden. How is this happening, and why are these agents getting away with it?

The modus operandi of these rogue agents is as unsettling as it is deceitful. They prey on eager buyers, enticing them with promise of the dream property with the exclusive deal that they will sell their existing home. With bidding wars reaching fever pitch, these buyers find themselves caught in a frenzy, desperate to secure their dream home. But little do they know, they’re being led astray.

The tactics employed by these agents are a far cry from ethical standards. Properties are listed online without proper documentation, signed agreements, or even basic information such as a Building Energy Rating (BER). Yet, somehow, these listings manage to garner attention and, in some cases, even lead to sales.

But why do buyers continue to engage with these agents? Is it a sense of helplessness, a feeling of being stuck in a market where options are scarce? Or perhaps it’s a lack of awareness that they have the power to choose differently. Whatever the reason, the consequences are all too real.

At KM Property, we believe in upholding the highest standards of integrity and professionalism. We take our legal and moral obligations seriously, recognizing the immense responsibility that comes with guiding clients through the complexities of buying and selling property.

It’s essential to recognise that the process of buying or selling a home is not just a transaction; it’s a significant life event fraught with emotion and stress. As industry professionals, it’s our duty to approach each interaction with empathy, transparency, and respect.

The prevalence of rogue agents in the Dublin property market is not just a matter of unethical behaviour; it’s a symptom of a broader issue. The shortage of housing has created a landscape where desperation and opportunism thrive. But it’s up to us, as agents and as a community, to hold ourselves to a higher standard.

So, if you ever find yourself waking up to a for sale sign in your garden, remember that you have options. You deserve to work with agents who prioritize your well-being and act with integrity every step of the way. At KM Property, we’re here to guide you through the process with honesty, professionalism, and respect. Because in a market as challenging as Dublin’s, you deserve nothing less.

Karen Mulvaney

Karen is well-known and respected within the property industry, with over 20 years’ experience, and specialises in the Sale and Acquisition of residential property.

Friday, March 1, 2024 in News & Highlights