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Sellers, Whose Side Are You On?
When sellers sign a listing agreement, they indebt the listing broker to the fiduciary duties that they deserve from us. Often, sellers do things that help the eventual buyer gain an advantage in the sales process. Sometimes, sellers are their own worst enemies.
I'm thinking about asking sellers to sign a statement acknowledging that they understand that certain acts or omissions by them will decrease the final price they receive and increase the time it will take to get there. Here's my first draft of possible acknowledgments:
•1. I understand that my asking price will define the expectations and limit the number of buyers who see my home. An unreasonably high asking price will create unreasonable expectations from buyers.
•2. I understand that there is a finite number of buyers who may want to see my home. Every appointment request that I refuse will significantly limit my chance of receiving an offer, and increase the amount of time needed to sell my home.
•3. Every day my home is on the market is a day closer to a price reduction and/or failure to sell. In the near term, housing data indicates that my home has a higher market value today than ... more
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