Special offer

Can you have TOOO Much Information ? YES ! YES ! YES !

By
Real Estate Agent with EXP Realty 414-525-0563 57026-90 Broker

 

   When you work in real estate, lending, insurance...retail....really any business working directly with the public...you have to be prepared to work with PeopleALLLL kinds of people. There are the first time buyers and first time sellers...OR the "have not bought or sold for a long aPeople who are transferring...both buying and selling may have different experiences and procedures in buying and selling in a different state and need a little help explaining how things are done for the current transaction.

   The diversity of backgrounds, experience, needs and desires of the people we serve is a part of what keeps real estate interesting...it is never the same for any two transactions.

 knowledge   How can a Buyer have "too much information" you ask ? A home is a BIG investment...shouldn't they know everything possible to make the best choices ? You would think that there is only one answer to that question....we don't think so...not necessarily.

   Sometimes...egos and the very strong desire to appear "detail oriented"...leads a buyer to ask..."require" an Agent to ask lots and lots questionof questions prior to writing an offer.  The questions can be things like...is the refrigerator 2 or 3 years old ? Did the Sellers move to the house in June or July ? The ever popular...Why are the Sellers selling ? The list continues...sometimes with the "demand" that the Selling agent continue to contact the listing agent several times with yet another list of questions to be answered...under the guise that this is necessary information to write an offer.

 kitty no no Are the questions necessary ? No. Will the answers to any of them make any difference in the value of the property ? No.  Should the answers to any of these kinds of questions change anything  in the offer ? No.

   What kind of impression do the marathon lists of questions leave on the Seller who is of course the one deciding which Buyer will purchase the house ?

    Having been on both sides of this kind of transaction..Seller receiving a million questions and Buyer suggesting that they ask them...we can tell you from our experience...this is not a good thing.

   Sellers know for the next 30-45 days they will be "doing business" with the Endless Ms, Mr. Question. Their minds immediately go to...if this is the kind of behavior before an offer...what will an inspection, financing and closing be like ? Yikes !!!!  For this very reason...we have had Sellers choose other offers to avoid what they saw as disaster in the future.

   Agents...guide your Buyers to ask relevant questions rather than badger Sellers with questions that don't matter.  Buyers...ask yourself ...What difference will the answer to this question make in an offer ? Chances are the answer is no difference at all. Be aware of the perceptions others have of you,..or your Buyer...it may well not be the same as your own.

       This has been an informational real estate post brought to you by Sally K. & David L. Hanson, Broker Associates with EXP Realty, honored to be of service for all things real estate in southeastern Wisconsin.
 

 

 

Posted by

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Sally and David. Yep, it pays to ask the right questions and skip the ones that don't matter! A true professional, like you, is the best guide! Enjoy your day!

Jan 19, 2019 05:01 AM
Peter Mohylsky, Destin BeachPro
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

The person controlling the question, controls the conversation.

Jan 19, 2019 05:16 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Ah, yes, I have had this buyer and had to temper their questions in order to not diminish our negotiating position.

Jan 19, 2019 05:52 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Sally and David.  When I have a buyer (or seller) like this I often answer their question with another question: "Why does this matter?".

Jan 19, 2019 05:56 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

My favorite question Sally K. & David L. Hanson is why are the sellers selling?  

You are so right about these questions.  But I would rather have all the questions answered than have "lingering" thoughts.

Jan 19, 2019 06:50 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

When the Buyer badgers the Seller with questions...they won't have to worry about lingering thoughts Sheri Sperry - MCNE® they won't have an accepted offer !

Jan 19, 2019 06:56 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Sally and David,  Questions, it is good to ask to get answers and pick up on what the answers are to help determine how to help people.

 

Jan 19, 2019 07:28 AM
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

I have had realtors say that thermal imaging provides too much information and kills deals.

So, they'd rather a client inherit a huge, unseen problem?  Only if they are salespeople and not realtors...

Jan 19, 2019 07:55 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

There's valuable information and then there's "ego - centric"...cuz I want to know and this has nothing to do with anything information Jay Markanich 

Jan 19, 2019 07:56 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Sally and David - what is the goal? To continue being a buyer or to be a homeowner. 

Jan 19, 2019 08:48 AM
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

Good point.  Some information is important and a real estate professional needs to be able to separate the "want to know" from the "need to know."

Jan 19, 2019 09:50 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Sally and David - to many questions really would be a red flag for me as a seller unless I had not other offers.

Jan 19, 2019 12:08 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good afternoon Sally K. & David L. Hanson ,

I'm with Grant Schneider too many questions really would be a red flag for me as a seller unless I had no other offers.

Jan 19, 2019 02:57 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Yes it is possible, yes it happens more often and a great way approach it Sally K. & David L. Hanson 

Jan 19, 2019 04:28 PM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I find that to much info on the MLS listing makes people think they know all about a place and don't come to see it

Jan 19, 2019 06:24 PM
James Dray
Fathom Realty - Bentonville, AR

Morning Sally.

Thankfully, I haven't experienced many of those clients.  My patience in working with them is short. 

Jan 20, 2019 02:12 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Very wise. Early behavior is a preview of things to come. A seller has to think "How will it be to deal with these people on the way to closing?"

Jan 20, 2019 02:18 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

OH YES! Sage advice, Sally. That is always a big red flag and one that with multiple Offers, always is ignored too. You KNOW what is coming if you take that Offer!

Jan 20, 2019 09:11 PM