Baiting is a marketing technique whereby a property is advertised at a lower price to “attract buyers” to come to open inspections.
Why would you advertise your property for $399,000 – $429,000, if your minimum price is $425,000? Not only is this illegal, it is misleading and will only encourage people to view your home that can’t afford it! Yes, numbers at open inspections may be lower because I have advertised truthfully; but don’t we all only want genuine buyers to come through? Decent Agents do not lie.
Going behind the sign:
Are you being approached by other salespeople even though you are already selling? Some salespeople have nothing better to do, unfortunately! Annoying and very intrusive for all concerned. I am very fortunate that my work is referral based, so I can spend all of my time trying to sell your home, which is what you employ me to do, surely!
The Real Estate Institute of South Australia’s Code defines “behind the sign” activity as: The act of a Practitioner approaching another Practitioner’s Client to solicit business… A practitioner should not solicit Clients of other Practitioners or engage in Behind the Sign behaviour This includes brochures in your letter box or letters saying they have a buyer for your home. Tell them to utilise their vendors time better by selling their own listings (if they have any)!