Real estate brokers’ super tricks, putting customers in the “circle” and then trying to extort money
“Pull the chicken” into the coop, push to buy it
Recently, Mrs. TTN (66 years old, living in Tan Phu District, Ho Chi Minh City) was cheated by a broker of Van An Phat company with “tricks” of nearly 600 million VND – the amount of money for her children and grandchildren to make money. spend.
It is known that around 5/2020 because there was a need to buy land in Ho Chi Minh City, Ms. N went on the Internet to find out and read an advertisement for the sale of land in District 2. Ms. N then went to the brokerage system with her name. M followed the phone number on the internet to see the land. However, instead of transporting her to District 2 as promised, this broker took Ms. N down to Trang Bom district, Dong Nai. Although she did not agree to buy it, Ms. N was constantly begged by brokers to pay for the reservation, with the promise that the price of this land would increase rapidly and would be sold within 1 week, just close the place for 50 million dong, if not Buy again will refund. Because of broker news, Ms. N transferred the placeholder of 50 million.
After that, going home to think, Mrs. N didn’t want to buy anymore, so she looked for a broker to get the money back, but she was constantly asked to go up and down and then kept quiet.
After about 5 months, Ms. N continued to read information about selling cheap land plots in District 9. Just like last time, contacting the phone number according to the instructions, Ms. N was promised by the broker to take her to see the land. This time, it was another agent of the old company she bought the land from before. Although he refused, this employee promised to take Ms. N down to District 9, if wrong, he would pay her 1 gold thread.
Continuing to believe the broker, Ms. N got in the car and the broker took her down to Thong Nhat district, Dong Nai to see the 120m2 land for 1.9 billion VND. They showed Mrs. N. a series of vague advertising images about the project and repeatedly said this was the cheapest price in the area.
At this time, Ms. N talked about the fact that she had also previously made a deposit of VND 50 million at the Company and could not get it back, the brokers realized that the land was sold by the company, so they promised to combine the amount of VND 50 million. The above-mentioned VND is added to the amount of money Ms. N has just deposited for this land lot (total VND 75 million) to buy a second land plot in Thong Nhat district, Dong Nai province (This second land lot, Ms. N has a deposit of 25 million VND to reserve a place. copper).
N’s purpose at this time is just to get back the 50 million dong that she had previously reserved for the land plot in Trang Bom, Dong Nai. But she did not expect to be lured by a real estate broker to give her a deposit to buy a land plot in Thong Nhat for 1.9 billion VND, the first payment is 680 million VND, and the broker promised to sell her this land quickly within 3- In 4 days, she will receive 50 million dong without having to claim.
Because she knew that Ms. N had an amount of nearly 600 million dong, a broker claiming to be the younger brother of the company’s director asked to reduce the amount of 200 million dong on the land plot of 1.9 billion, or 1.7 billion. At the same time, please add a discount of 6 gold bars of 30 million VND, support an additional rental package of 60 million VND. In total, after deducting the 75 million VND that Mrs. N had already deposited, she only had to pay 515 million VND (590 total) to pay the first installment.
This broker used a lot of good words, promising that by authorizing the company to sell to others, Ms. N would have made a 200 million profit from the price, plus 90 million dong of additional discount and 50 million refund. deposit in the previous purchase.
Because of the broker’s trust, Ms. N transferred an amount of 515 million VND. After enticing Ms. N to sign the contract and transfer the money, the real estate broker continued to ask Ms. N to sign an “authorization contract” for the Company so that they could transfer the contract to a 3rd party. However, on all contracts at the time mentioned above, only Ms. N signed, without a representative of the Company.
Through research, Ms. N found that there was a lot of inconsistent information, so she was suspicious, confused and the next day she contacted the company to ask to cancel the contract in principle, get back the paid amount, but it was not supported. After that, Ms. N received a request to continue to pay the next installments within 1-7 months. At this time, Ms. N called the broker who had promised to “surf” to help, but this broker continued to advise Ms. N to pay an additional 340 million in order to extend the time limit to find buyers.
At this time, Mrs. N knew that she had been cheated and had no money to pay the next stage.
It can be seen that the trick of “pushing chickens” into the circle and forcing to buy real estate is not new in the real estate market. In a case like Mrs. N, it is possible that because of too much trust in the broker, along with the greed for short-term profits, this belief is even more motivated. However, Ms. N probably won’t lose the money (when she initially thought she wouldn’t buy) if she wasn’t pressed by the brokers and used enough “tricks” to extort money from buyers.
Most real estate brokers will use tricks to attack buyers’ psychology for fear of missing out on the opportunity to make a profit. Brokers will stage many people posing as buyers to push prices up or urge buyers to deposit. Although this method is not new, there are many people who are still deceived, especially those who have little experience in buying and selling real estate.
Enough tricks to trap customers to buy real estate, if not alert, it is easy to “stick”
The trick of real estate brokers to “seduce chickens” by selling land in one place, leading customers to go a different way and then luring customers to buy like the case of Mrs. N as above is not strange. For a time, this trick was repeatedly condemned and then subsided. However, in many places, brokers still use this tactic to extort money from customers.
According to Mr. Le Quoc Kien, a real estate expert, the starting point of this trick is easy to spot because of the unusually cheap real estate ads that “can’t be ignored when skimming the advertisement”. , compared to market prices in the regions.
Especially recently, when the real estate market started to be illiquid, the trick of “tricking to advertise real estate in one place, leading customers to another way” has resurfaced.
Usually on the bus and at the project when the broker takes customers to see the land, there are many tricks and crowd effects such as: there are customers who keep depositing, customers buy most of the beautiful lots, discount only. In a single day, sweepstakes, psychological pressure, etc. make it easy for customers to fall into the demand trap. That is, a “need to buy” naturally appeared without having time to find out in detail, but then returned home and did not understand why I made such a decision.
Mr. Kien analyzed the trick: The key point that customers are easily persuaded to take down the deposit is the argument that “only that day, the deposit will be discounted, and if you think about it again, you will not want to buy anymore, you will be fully refunded. stakes”. In fact, in addition to a few guests who have relationships, know the law, have time to go back and forth and are determined to make a big deal, there are not many guests left who can claim this money back.
“In case it is a real project, investors can still accept to buy the project if, after finding out, the price is reasonable and legal. However, there are also many brokerage companies with owners. The goal from the beginning is to entice customers to buy at a much higher price than the market price, or if the customer changes his mind, it will cause difficulties and it is almost impossible to get the deposit back, “said Mr. Kien.
To avoid the above cases, Mr. Le Quoc Kien warned, investors should be careful with the following signs: Real estate for sale is unusually cheap compared to the market price; The phone number used to post a lot of other unusually cheap real estate; Do not send in advance real estate location, and legal documents (sovereignty, …) when requested.
The meeting point to see real estate is very crowded with 16-30-45-seat cars (currently because customers are increasingly cautious, there will be more 4-seat taxis for 2 sales with 2 guests on the car); Visitors to the gathering place all read similar low-priced real estate ads; Most of the sales staff are very young people 20-25 years old.
The destinations of the bus trips are land plot projects in the province, in the same direction as the cheap real estate advertised (For example, cheap real estate in District 9, the car goes to Long Thanh, Nhon Trach; cheap real estate In Hoc Mon, District 12, the car goes to Long An, Binh Duong; cheap real estate in Thu Duc, the car goes to Binh Duong, Binh Phuoc).
Sales staff always urge customers to deposit with 2 reasons: “Only that day will get a discount”, and “after returning, if you don’t want to buy anymore, you can refund 100% of the deposit” .
“Along with that, a lot of self-composed decoy effects “have customers to buy, close the stake, almost all beautiful lots” continuously”, this expert shared.
In the recent Land Show program, Mr. Nguyen Chi Thanh, Standing Vice Chairman and General Secretary of the Vietnam Real Estate Brokers Association, affirmed that the problem that many investors face in the market today is the lack of information. full news. Many investors approach with incorrect and incomplete information. Along with that, many investors expect sudden profits, but sudden high profits often come with huge risks.
Currently, there are many tricks of real estate brokers to lure buyers. In which, FOMO stands for “Fear Of Missing Out” (roughly translated as “Buy now or you will miss the opportunity”), which is considered the most popular. This is a trick that many brokers are using to confuse customers. The words poured honey into the ear: The project is very good, afraid not to buy today, tomorrow the price will increase sharply, buyers lose the opportunity …
Along with the “FOMO Effect”, using “decoy” is another trick that real estate agents also often apply. For example, when a customer is viewing a house, another guest runs over from somewhere, then decides to make a deposit. This person is actually a bird of prey installed by the “earth stork”, if the customer is wondering 50/50, their appearance can make the customer fear losing the opportunity to buy a house, making the house “scarce”. that quickly down money or deposit in advance.
“Release the iron hunter, catch the perch” is a trick that brokers often use. Here, the “stork” will offer guests a plot of land at location A, with good form and price. When the customer completes the deposit, a few days later the broker will call, saying that someone wants to buy it back at a higher price. But in reality, no one called. Even the broker is willing to put out a few tens of millions of dong from his own pocket, pretending that the other customer is willing to pile up the deposit. At this time, when the buyer feels that he has invested in the right place, and sees the project is feasible, the broker will continue to offer a few more plots of land.
In addition, buying land to give “gold” is also a trick often used to lure “chickens” into traps. This is the mentality that hits the greed of buyers. Buyers don’t know that the gold tree is donated from the buyer’s own money.
Talking more about the tricks, the General Secretary of the Vietnam Real Estate Brokers Association said that many projects are currently experiencing price manipulation. That is, when some products are sold, there are buyers immediately, thereby creating a new price. Currently, there are a number of projects that are segmented and priced at a fairly high level, even very high if those who do not have enough information, are not able to analyze and evaluate, are affected by the crowd psychology. invest heavily. Here, private investors have real potential, borrowing to invest in these projects is very dangerous because of the risk of large debt burden.
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