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Loose Lips Sink More Than Ships...They Will Sabotage Your Negotiation Position!

Last year I was working with some very nice and friendly Seller Clients on selling their Seattle rental house. My Client's tenants had moved out, the house was vacant, and I added a few things to stage the Kitchen and Bath warming them up for online photos and potential buyers. The house was well priced and ready to Sell!

We got two offers the Monday following the first weekend of the house being listed for sale on the NWMLS. One Buyer's offer was accepted, the Buyer and the agent moved quickly to schedule an inspection. After the inspection the Buyer's agent called me to let me know that it was finished AND that my Seller Client happened to show up (lives next door) agreeing to fix everything that the inspector pointed out!

There went our negotiation position!

Tip for Sellers: Please don't give away your negotiation position, allow your agent be your liaison, avoid talking to potential Buyers, and especially avoid talking to the Buyers you are in contract with, that is your Seattle real estate agent's job! You may give away some of your homes value (your net proceeds) when you inadvertently give away information and your negotiation position....

Loose lips will sabotage your negotiation position!

Posted by Deborah Burns ~ Seattle Real Estate Agent on 04/05/2008 04:50 AM

Comments (9)

tip for sellers, negotiation

9 Comments on Loose Lips Sink More Than Ships...They Will Sabotage Your Negotiation Position!

APR

2008

Deborah- I couldn't agree with you more! That's why I don't like my sellers to be home during showings or attend their home inspection.

Yes sellers or sometimes even "loose lipped" agents give the other side a good advantage on knowing how far they would go.

Excellant Post. I have an Inspection going on today and the buyer agent wanted my seller there to help with some questions, I said NO.. he will not be there for the inspection. Inspection are for the buyers to take care of not the seller... Good Point..Paula

Deborah - You are right, I was working on a deal and the seller showed up a proceed to tell the buyers her story (spouse had cheated and left) to the buyers, the offer that was presented was $130,000 lower then the asking price of $575,000.

This is very aggravating. When you hire an agent to do something, (negotiate) you need to let that agent do it.

APR

2008

Hi Laura, I agree with you so much! I had already asked my Seller Client not to come into the house to meet and "chat" when he noticed someone previewing or showing becuase it could put him at a disadvantage. He is just a very friendly man and did not understand how much it could put him at a disadvantage.

Hi Russ, yes I have run into agents like that too!

Hi Paula, LOL! Yes, that is a GREAT idea for the buyer's agent and the buyer!

Hi Pam, oh that is sooooo sad for your client! Many people are just too trusting, that is one more reason why hiring an agent is a good idea.

Hi Karen, yes so true! We are there to help with so much and this is an important one!

APR

2008

Great post. Too often we forget how to remind our sellers not to talk business with potential buyers viewing their home.

Hi Tina, yes, I recently had been working with some buyers who often gave away their negotiation edge in spite my efforts.

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