You shouldn’t believe everything you read on the internet – the same goes for what you hear. Influencers are always trying to persuade you to buy an item via Instagram, TikTok & Co. in order to earn a commission. If the product doesn’t keep its promise, the costs of sports clothes, smoothies or cosmetics are at least manageable. However, things are completely different when it comes to a large investment like a house. The Hamburg Consumer Advice Center warns against real estate influencers.
All-inclusive service is a nightmare
Having your own house is a dream for many. Influencers on the internet are obviously taking advantage of this and luring users into price traps. Consumer Advice Center Hamburg speaks, among other things, of a “nightmare for buyers.” At first it looks so rosy: an all-inclusive service for all matters, qualified experts who supposedly take care of everything – selection of the property, financing, renovation measures. But after the conclusion, there is usually a rude awakening.
Buying a house: How much credit can I get?
Financial total loss
The properties are often not as great as they are marketed. The price does not correspond to the actual value, and there are high costs for renovations. The influencers and their network also collect “unreasonably high commissions”. It also says: “The property financing offered (…) carries the risk of total financial loss (…).” In one case, the conversation with the bank only took place after the signature at the notary – if the financing falls through, you are left with the contract for the house purchase. In the end, the winners are the network of influencers and the financing banks and savings banks.
Holding influencers accountable
The Hamburg Consumer Advice Center takes a clear stance: “In our view, influencers should be held liable for their statements. They cannot be allowed to convince people of business deals that are disadvantageous to them and not take responsibility for them.”
* If you make a purchase via the links marked with an asterisk, COMPUTER BILD will receive a small commission. Our standards of transparency and journalistic independence can be found at axelspringer.de/unabhaengigkeit.
