Jun 3 2019 65671 1

Dated: June 3 2019

Views: 151

Things a Home Seller Should Never Discuss

The Code of Ethics put out by the National Association of Realtors, to which all REALTORS® agree to abide, say that a buyer's agent is not to interfere in an agent's listing. The Code also says an agent is supposed to treat all parties fairly, but the Code of Ethics doesn't stop a buyer's agent from pulling personal information out of a seller when the seller is willing to provide it.

All too often, sellers answer questions put to them by other agents because they don't think they are doing anything wrong. They don't see it as a mistake to provide what they feel is just information. But what they can say to an agent or the buyer can have big implications.

Here are some things a seller should never talk about with a buyer, regardless of how innocent the topic might seem:

  1. The present sales price.

  2. The length of time the home has been for sale.

  3. Why the seller has decided to sell.

  4. The comparable sales prices of other homes.

  5. Any price reduction considerations.

  6. Things that might be wrong with the home.

  7. How many offers the seller has received.

  8. How quickly the seller would like to close.

You know the drill for personal rights: Anything a seller says can and will be used against the seller when the buyer enters negotiations to buy that home. If a seller, for example, mentions that she hopes the home sells soon because she's under contract to buy another home, the buyer might not offer as much as the buyer might offer without this information.

The best response a seller can have to these questions is a) Do not answer the question at all or b) Say, "Repeat after me: You will have to ask my agent that question."

Examples:

But I just want to know if you've had any offers yet or if you know of any buyers who might be writing an offer? Answer: You will have to ask my agent that question.

Can't you tell me if your home has been on the market for seven days or seven months? Come on; this is not a hard question! Answer: You will have to ask my agent that question.

If we wrote an offer today, would you be willing to reduce the price by $10,000? Answer: You will have to ask my agent that question.

It is one of the reasons a seller hires a real estate agent to sell a home. A listing agent is a buffer between the seller and the buyer, including the buyer's agent. Let your agent earn her commission and protect your investment.

 

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