In the last two weeks, I have had two separate situations where sellers have lied to their listing agents and caused significant hardship to my buyers.
In each case, the seller was not truthful with their agent, even though the agent specifically asked questions related to the situation. If the sellers had only told the truth, their listing agent would have been able to advise them and help them avoid possible litigation.
A couple of points…
1. If you hire an agent and are willing to pay them thousands of dollars for selling your home, you should trust them. This means that you should be truthful with your agent, no matter how difficult the situation. Your agent should be seen as an advisor. If you’re having issues, they most likely will be able to provide direction on how to proceed in order to protect yourself. If your agent doesn’t have the answers, they can point you to a competent attorney that should be able to provide guidance.
2. Real estate contracts are legally binding documents. If you sign them and then reneg on your side of the deal, you run the risk of being sued by the other party and/or the real estate agencies involved in the transaction. You could be sued to force performance, or pay a commission on a deal that will not close. It’s serious business, don’t think otherwise.
3. Despite the fact that I currently have two bad situations to deal with, lying sellers is not the norm. I talk with other agents regularly and they agree that there will always be “bad apples” out there, but they are anomalies. As a buyer, make sure you have legal counsel through the process and an agent that is on the lookout for inconsistencies.
So, see your agent as your advocate. They’ll advise you on your specific situation. If you don’t trust your agent, there are bigger issues. Contact their broker and ask for their help. After all, you’re paying for the guidance of an expert, why not use it?