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Telling Home seller's the truth. Honesty is the best policy!

When speaking at a real estate seminars, or answering questions that I receive from my teaching and real estate coaching site - more often than not, someone will ask how to get a major price reduction from a seller.  My response is that you don't take overpriced listings, and then ask the seller to start reducing price.  That is unethical!  It is about providing the seller with the truth and correct facts on the original listing appointment.  If real estate was all about medicine, it would be wrong not to tell a cancer patient that he/she has cancer!  That would just be the cruelest thing that anyone could do!  So why is it done everyday in real estate?  In real estate it is called "Buying a listing!"  Tell the seller anything they want to hear...just so you can take the listing without any competition.  It is sort of like going into a 200K neighborhood, but the seller wants 325K.  You say "OK." And do not even qualify the price.  It just doesn't make sense not to address the pricing, and then you have to come back in a few weeks after no one has gone through the listing and ask the sellers to give you a major price reduction. Being honest about price is not the only problem that agents have.  What about neutralizing the paint colors, clearing out clutter, pet odors, removing busy wallpaper, mold, repairs and similar items that if left unattended will prevent the home from selling?  Do professional agents have an obligation to address these issues with home sellers, or is it ok not to bring it up because it is an uncomfortable moment?  What's your answer?

Jim Crawford

James Crawford ABR, Broker Associate

 

 

 

 

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Comment balloon 2 commentsJim Crawford • January 15 2007 02:47PM
Telling Home seller's the truth. Honesty is the best policy!
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