When it comes time to market your home sellers should consider that being there when the home is shown is not a good idea.
In my experience I've seen sellers try to get friendly with prospective buyers. Perhaps they feel if they appear to be friendly people it might prompt an offer on their home.
Often the seller lets their guard down and begins to blab personal things. They inadvertently reveal things which could put them at a disadvantage during negotiations.
Buyers will look for "desperation". A sick parent and you are relocating. A job change and you MUST move. A divorce or financial hardship.
If you are a seller and wish to be present when your home is being shown keep your distance.
Open the door, great the buyers and their agent, take the dog for a walk or you do for a walk.
Don't get involved in conversations with buyers.
Loreena Yeo Realtor from Texas wrote about the same topic on a recent blog we share here with you.
We've done this before: spilling the beans for the sake of having a friendly conversation, especially people here in Frisco TX. A recent experience brought a new awareness for me as a responsibility towards my Frisco TX home seller clients.
I usually advise my sellers not to be at the house when the buyers visit. That's not hard to understand how their presence may make the buyers uncomfortable. But more importantly, by being there, sometimes the buyers may ask questions the sellers are not prepared to answer.
- Why are you selling?
- Where are you moving to?
- How's your timing about moving out?Sometimes these quetions are asked just for the sake of having a friendly discussion. But smart people can pick up alot of information in the answers as well as the body language.However, in my recent experience, it wasn't the home sellers that spilled the beans. It was the sellers' neighbors. Again, just for the sake of having a friendly conversation.
- "Oh, they've been gone for a while now. His parent is sick and they have to move back closer to home".
- "They are getting a divorce".So on and on and on. The longer you talk, the more you know. At some point, there could be just too much information that can hurt negotiation. Remember, in real estate negotiations, information is power. More than what an average "friendly and nice" Texan know.Think about it the next time you involuntarily give up information.
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Dont Let Your Neighbors Sell You Out