When it comes to selling our properties you must acknowledge every single detail about the particular agent you are hiring. Nowadays it is very much common to take the help of an agent through which you can sell your property at the best prices. Without taking their help it will generate lots of Times of your energy as well to sell your property to the right client. Therefore, often people are getting into the trap of puffing in real estate.
The agents can convince you through lots of ways mostly in an exaggerated way to hire them for selling the property of yours. Besides that by making some exaggerated claims they tried to attract your focus on them and make you compel to hire them for selling your property. This is the one where most of the owners fall into the Trap of the real estate agents. One must be aware of the concept of puffing in real estate before handing over their property to the agent.
In addition, if you are about to tell your business and looking for the best agents through which you can sell your property at a good price in the market, then it is very much important to hire the best real estate agent for yourself. Your walk will be easier if you take the help of a perfect real estate agency and use them for selling your property. However, the maximum of the people is without acknowledging the fact what is puffing in real estate they go for an agent quickly.
However, you should have a clear concept about this real estate business and the other essential things about puffing as well. Elsewhere you can face a huge loss while selling your property for buying a property from the agents as well. Here in this short article, we are going to make you all understand the concept of puffing in a real state quickly. So be with us and read the whole article early to make your knowledge clear on this matter.
There are lots of important things that you need to pay attention to before taking the help of a real estate agent and understand everything about the puffing in real estate. However, at the very first we will have to know about what puffing really means? Let us join in our discussion to find out this concept in clear detail.
What is Puffing in Real Estate?
In simple words puffing means exaggerated claim that usually comes from agents. The agents try to convince their clients by offering some exaggerated claims and making sure their clients convince and by the property from them. It is often visible both for selling and buying the properties. However, if you are looking for business property and want to buy it immediately then you can probably notice the agents puffing in this matter.
However, on the other side, the same thing is also visible when you are going to sell your property with the help of puffing. While you are taking the help of an agent to sell your real estate property the help of them they can use their exaggerated claims in front of those buyers who want to buy your property. In addition, the agents can also so try to convince in numerous ways as well. Besides that, the agents are also like the person who sometimes lies for selling your property to other clients too. Hence, it is all about puffing in real estate.
Is puffing illegal?
However, on the other side those who are looking for the answer to whether puffing In real estate is legal or not then we want to say that is not a legal concept at all. It is an illegal concept that is generated by the agents to convince their clients to sell or buy a property from them. The salesman tries to give their best pitches in front of those buyers or sellers at a time when they are showing a particular property.
However, maximum of the salesmen finds this way a suitable option to convey their words in front of their clients. But it is not a right or proper way when it comes to selling your property to someone others. The main motive behind the puffing speeches is to convince There buyer or seller of a property through which they can make a profitable revenue. If you are getting in a trap of an agent while having the puffing speeches you cannot throw them to jail rather listen to them. Therefore, this is the whole thing in what is puffing in real estate and on the other side; it is an illegal concept as well to make your clients buy properties from you.
Whenever you are going to sell your property through an agent make sure they are experts in their fields and have lots of experience to convince their clients easily. The most professional real estate agents can understand each and every point before selling your property to others. Therefore, it is and best option to go with only those agents who are already worked on lots of deals in their whole career.
On the other side, the real estate agents can also convince with their exaggerated speeches to deal with them and take the responsibility to sell your business to the clients. However, you need to make sure that you can get the ultimate result from them by hiring for the work. Besides that, it is very much natural that most of the agents are using the puffing in real estate concept to make other people purchase the property immediately.
Besides that, always make sure the agents are offering the right market prices for your property to their clients and convince them with their words. However, if you are expecting a lot of profit by selling your property above the market prices then you are in vain. You can only expect the right amount of your property from the clients you are going to sell.
How to Sue a Realtor for Lying?
Now here we are going to offer you two simple steps that you need to follow if you want to sue a realtor for lying. You can immediately reject their services if you find any false statements are coming from them to you. Here are the two simple ways that you can follow to catch the false statement of your agents quickly.
Suppose you want to buy a property or a house for yourself and you are taking the help of an agent to get the property for yourself immediately. On the next day, the agent is taking you to the spot which you’re probably going to have for yourself. The house maybe not be appropriate or suitable for you but still, the agents will try to convince you with false misleads. Therefore, this is one of the first ways that you can follow to recognize the false statement from the agents in terms of selling a particular property. This is also the case of puffing in real estate as well.
However, when you will become a family person you must be want to have a school nearby from your property or house. Through the help of the agents, you get to know that there is a school nearby at that house and immediately take the decision to buy it from them. However, moving into your house and spending one or two days you find out the truth that there is no school nearby. You may feel that the agent is received you but actually, it is not. It is the way that they convince their clients to buy a property from them. However, in terms of this case, you cannot sue them after taking the property from them.
Puffing in Real Estate and Misrepresentation differences for you
Both the thing puffing in real estate and Misrepresentation are totally different from each other. The maximum time depends on the seller’s honesty. If we elaborate this thing from a legal point of view then it will help you to understand both things clearly. Puffing in real estate means an exaggerated convince method by an agent to sell a property to their clients. On the other hand, misrepresentations mean a fraud method of lying about material facts. However, on the other side, it also totally depends on the mentality of an agent before presenting their property in front of their clients. In addition, people can also summarize the exaggerated concept as hyperbole as well.
Misrepresentation in Real Estate
In addition, you can also find misrepresentation in real estate as well. There are several things that the agents will not tell you properly or correctly before selling the property to you. However, maximum of the time the agents provide misrepresentation in terms of materials details of a house. The common issues misrepresentations in real estate are
- You can find problems with the foundation and structure of a house.
- The buyers can find the environmental problem, Property boundaries, Title issues, and pest problems as well.
Moreover, if you find the miss leadings from agents and do not disclose the real problems about a particular property then immediately can take the charge of Misrepresentation and can sue them too. On the other side, there are three types of misrepresentations that a seller can face before purchasing a particular house or a property.
Three Types of Misrepresentation
Here are the top three types of Misrepresentation in puffing in real estate that you might go through.
Innocent misrepresentation is a misrepresentation when an agent convinces you to buy a property by seeing all the false things about it. Later the owner finds out that all the things that he or she heard from that agent are totally false. Besides that, knowing all the accurate things about the property the agent tries to miss guide their clients to buy a property. On the other side, the owners do not even investigate the truth as well that’s why they fall into the Trap of an agent.
On the other side, negligent misrepresentation is the representation when the agents throw all the false statements in front of their clients excites them to buy a property. Besides that, it is a much noticeable fraud case and highly punishable crime as well.
In addition, the third most serious misleading in puffing in real estate is fraudulent misrepresentation. In this case, a seller or an agent knows about every truth of a particular property. Knowing all the real facts still they convince others to buy the property from them by giving all the false leads. In this matter of Misrepresentation, the agents are always intended to give all the wrong information to their clients. In addition, they also so have all the right information about a particular property before selling it.
Remedy for Misrepresentation
If you are looking for remedies of misrepresentation in puffing in real estate then there are only three remedies are available for you. The three remedies are
- First, what types of misrepresentation you are dealing with
- Second, The exact circumstances of transactions
- Third, Consequences of false information in terms of reliance
What are the Standards Of The ‘Time Is Of The Essence’ Clause
However, there is another more important thing that you need to know about what is puffing in real estate that is the standards of the time of essence clause. Here in this below section, we are trying to discuss all the important things that you need to know clearly about the time of essence clause. Both parties whether you are an agent or a buyer need to make sure everything is accurate and appropriate while dealing with the property.
Make Sure The Parties Be Aware Of The Clause
Both the parties while dealing with the particular property must be aware of the clause of time of essence accurately. If you are a buyer then make sure the agent is following all the rules of the time of essence clause. However, if once the deal is over and you have already purchased the property from them then there will be no way to remain to claim fraud in this matter. Thus, make sure everything is accurate and perfect before the transaction with the agent.
All Parties Are Entitled To ‘Reasonable’ Postponement Of Closing Day
If any one of the parties wants to postpone the deal then they can definitely go with it and can hold the closing day for making the decision of buying or selling the property. Therefore, both of the parties will have to follow the reasonable postponement of the closing day clause at that time of the essence. Therefore, this is one of the important clauses in time of essence that you will have to go through before dealing with the property or buying it as well.
Amending A Breached ‘Time Is Of The Essence’ Clause-
If there is found any mistake by any of the parties that by taking the help of this clause they can solve it immediately. The amending of breached Clause will help you to solve all your queries and mistakes as well.
Therefore, these are the all information about puffing in real estate that you need to know before dealing with an agent or a seller by yourself. We hope this piece of article will help you to know more about this concept and take the right decision before hiring an agent for your property or buying a property from them.
What are examples of puffing?
If we talk about the examples of puffing then it can be all the false information about a particular property that you are interested to buy. The agent can know the exact and correct information about a property but he or she does not tell you the truth before selling the property. And they try to convince with the false statement to buy a property as much as possible.
What does puffing mean in legal terms?
In a legal term, puffing means a way of style of all the agents to convince their clients to purchase a particular property from them. Without disclosing the real information they tried to exaggerate with false information to their clients.
Is Puffing unethical in real estate?
There is no such statement that claims that puffing is unethical in the real estate business. However, it is just a convincing method that the agents are applying to their clients and encourage them to take the deal from them as well.
Do real estate agents inflate prices?
There are very few genuine real estate agents that do not go with inflating prices while dealing with their clients. However, nowadays it becomes much more common that the agents are using inflating prices for their own profit.