New Jersey Rental Guide 2022

FALSE ADVERTISING IN REAL ESTATE

“If it seems too good to be true, then it probably is.” One telltale sign of possible false advertising in real estate is the omission of exact building numbers traceable to a physical address, for example, “555 Main Street”. Potentially misleading advertisements (ads) may use vague descriptors such as, “located on the Upper- East Side Prime” or “between 10th and 15th Street” to appear credible. Although this particular tactic is easily detected, illegitimate ads are becoming increasingly difficult to discern when searching for real estate, particularly on the internet. Many apartment-seekers will come across ads that boast quality apartments in desirable neighborhoods for bargain prices. These properties are usually scams trying to coax people into disclosing personal information, or they are fabricated as part of a “bait and switch” scheme – an attempt by a brokerage to draw in or “bait” customers through the promotion of non-existent, low-rent apartments. When a potential customer inquires about the apartment advertised, the brokerage will “switch” the offer by inventing a reason that apartment is not available and then offer to show different apartments, with higher price points, for a fee. To avoid such traps, it is in your best interest to hire a professional who will carry out this research on your behalf. When you work with Station Cities, we will do our research to find the best properties that match your criteria. If you see a property on a website that interests you, we recommend that you do not reply to the ad directly. Instead, send your agent a link to the webpage and request to be shown that property. The reasons for this are two-fold. First, your agent will scrutinize the ad for legitimacy, thereby avoiding any of the aforementioned schemes. Secondly, brokers are territorial; if you contact a broker directly through an ad, they will refuse to recognize our company as your representative in the transaction (to avoid sharing brokerage fees). These individuals represent the owner of the property. As your agents, we represent your interests in the property. To ensure that someone knowledgeable is representing your best interests, it is best to allow us to contact these individuals for you.

© 2022 Station Cities

18

Rental Guide: New Jersey