Disloyal Real Estate Agents in Ecuador

This week, a few words from a movie (Training Day) came to mind as I sat with a real estate agent on the coast of Ecuador.

“You Disloyal M***** F*****”.

But this time, I was on the positive end of the disloyalty.

You see, I was talking with the seller’s agent of a property I was interested to buy. The seller and I had already agreed verbally on the purchase price when the agent told me “actually, the seller was prepared to drop $20,000 further”.

I think he told me that because I had befriended him, or maybe it was his way of helping to close the sale thinking I would ask for another discount.

But what it really did was turn me off the buy and I ended up making a fuss about a small detail and backing out. Maybe I’ll let the property “marinate” and jump back in the game if it hasn’t sold within a few months.

This serves an important lesson for you this week, in Ecuador don’t disclose, even to YOUR realtor, the absolute minimum price you’ll accept when selling your property… they just might tell your potential buyers! And on the other end, if you’re buying in Ecuador be sure to ask the realtors, “So what’s the lowest bid the seller will take?” They just might tell you. That’s how it goes down here in Latin America!

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