Top 5 Worst Things Sellers Say to their Realtor
1. “We don’t have to sell” – Really? If you are just testing the market, then why would I spend thousands of dollars on marketing and advertising your home? It’s a big decision, so think about it long and hard before listing.
2. “Our house is the nicest in the tract and worth more than the comps” – How do you know this? Have you actually gone to every, or even most, houses in the area? Chances are very high that your Realtor has seen more homes in your tract than you have, even if you’ve lived there for years. Even if this is not the case, your Realtor has oodles of pricing resources at hand. Keep in mind that you, as the seller, are biased. Of course you love your home, but that makes it harder to look at it objectively. This is one of the reasons you hire a Realtor!
3. “We have kids, how are we supposed to get rid of the clutter?” – Nothing destroys property value more than dirt and clutter. It could literally be worth thousands of dollars to spend some time and be temporarily inconvenienced to do the clean-up and decluttering.
4. “It’s just the first offer, let’s wait for more” – When I hear this I want to shout out “NOOOOOO!!” The biggest mistake you can make is ignoring your first buyer while you wait for another one. Your first offer tends to be the best offer. It takes a lot of guts to write up an offer right away…don’t punish that brave buyer by making them wait.
5. “Let’s start with a high price, we can always come down.” This. Makes. Me. Cringe. Overpricing is the root of all evil. Realtors and buyers are savvy and know when a house is overpriced. They will wait for you to languish on the market for a while, reduce the price a few times and then POUNCE with a low ball offer. Over pricing is the surest way to attract “low ballers.” They are just waiting for you to mess up!
Top 5 Worst Things Buyers Say to their Realtor!
1. “I am not in a hurry to buy anything” – This gives the Realtor the impression that you are not serious. And if you aren’t serious, your Realtor won’t take you seriously and will not make you top priority.
2. “I will get pre-approved when I find a house I want to buy.” – People, it’s PRE-approval for a reason. It’s the first thing you need to do. You never know if your finances will fit into the neat package that the bank needs in order to lend you money! What happens when you find your dream house that you think you can get a loan for – but then you can’t when the time comes.
3. “I am looking for a deal” – Yeah, well, who isn’t? But if that is ALL you are looking for then, again, you are not a serious buyer.
4. “We can always re-negotiate after the inspection” – pay the price you want to pay for the house. Do not count on the inspection to get thousands of dollars back. Not only is it tacky, but it can back fire on you when that “fixer-upper” you bid on is actually in terrific shape.
5. “Will you share your commission with me if I let you represent me?” – With this sentence you have ensured that you will work with only the most desperate realtors out there. You are paying the commission in exchange for your Realtors expertise, research, resources, negotiating advice and ability and much more. Can you imagine asking a doctor to share their pay with you? “If I let you do this surgery, will you split your insurance payment with me”—it’s the same.