The idyllic state of Goa, with its lush landscapes and alluring beaches, has become a hotspot for real estate investment. But beneath the picturesque appeal of Goa's property market lies a darker reality that every seller should be aware of.
Understanding the Scam
Here's a detailed case study that demonstrates how deceptive agents operate:
Imagine you set your property price at ₹4,000 per square meter. Here's what an unscrupulous agent does:
- Inflated Marketing Price — The agent lists your property at ₹4,500 per square meter without your knowledge, pocketing the difference as hidden profit.
- Finding a Buyer — A buyer accepts this inflated price, believing it to be the genuine asking price.
- Concealing the True Offer — You, the seller, are told the buyer only offered ₹4,000 — your original asking price. You're satisfied, unaware of the higher offer.
- Pocketing the Difference — The agent retains ₹500 per square meter as hidden profit, on top of any commission you've agreed to pay. On a 500 sq meter property, that's ₹2,50,000 stolen from you.
The Impact on Sellers and Buyers
For Sellers
The scheme results in direct financial loss — you receive less than what your property was actually worth in the market. Beyond the money, it represents a fundamental breach of trust in the real estate professional you hired to represent your interests.
For Buyers
Buyers who are aware of such schemes may feel complicit, facing potential legal complications if the arrangement is later discovered. They also overpay relative to the seller's actual expectations.
How to Protect Yourself
Follow these four essential safeguards:
- Research Agent Reputation — Conduct thorough research on any agent before engaging their services. Check references, online reviews, and ask for verifiable transaction histories.
- Demand Transparency — Insist on written documentation of all offers received. A trustworthy agent should have no problem sharing this information.
- Verify Offers Independently — Get independent property valuations and cross-reference any offers you receive against current market data.
- Seek Legal Counsel — Engage a lawyer specializing in real estate who can review transaction documents and flag any discrepancies.
Our Commitment
At Sell Goa Property, we believe in complete transparency. Every offer we receive is shared directly with our clients, and our flat 2% commission structure means our incentives are aligned with yours — we earn more only when you sell for more. There are no hidden fees, no inflated prices, and no surprises.