Name that Price? Is taking a Seller on a Pricing Property Tour unethical?

By
Real Estate Broker/Owner with Re/Max Property Pros LLC

Well, this has been the latest in several heated debates throughout our office.  Seems when times get tighter ideas push the envelope more. Based on a couple of videos we have seen around the office the idea of taking new Seller's or Seller's with stagnant listings on a pricing tour to play  "Guess that Price" has been an idea many have considered.  You grab your seller and several listings similar to theirs, tour them, and see if the Seller can guess the price of the other properties.  Generally, they can not and it gives them a lesson on  "market value" and home pricing in their area.  I know you are ALL thinking of which Seller would benefit the most from this game.

The problem, however,  some of us have is that we represent the Seller and agree to take  qualified Buyers through the home only.  Not Seller's looking to price their property.  You also have some Seller's that take hours to prepare their homes for showings and to take a potential Seller whose property could be in competition with theirs does seem to me to walk the line of unethical.  Not to mention not so nice. I doubt they would like this game?

Several agents have felt the real question is to whom do they owe more loyalty? Their actual Seller or the random Seller in the MLS?  Perhaps their loyalty should be with their lister so taking them through other MLS properties should not be a problem. 

I, who by nature like to keep the peace, suggest that an agent get permission from a Seller prior to bringing anyone not qualified to buy their home through their home.  Some Seller's are absentee owners' who may not care so their properties could be used in such a fashion. 

I guess I would wonder if my home was on the market would I want to have someone come through it for pricing reasons only.  My gut screams nope.  It is a great idea in theory but it make my feel uneasy.  Let me know what you think...

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Rainer
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Laurie Jenner
Your Home Team Advantage - Cary, IL

I have done that in the past.  If possible, I'll take them with me during a broker tour or open house, but I'm not afraid to make an appt.  I have also taken sellers through other listings to show them how important condition and staging are.

When making the appointment with the other office, I refer to the appointment as a preview.

p.s.  You live in a beatiful part of the country.  We vacationed at Wild Eagle Lodge a couple of summers ago.  It was amazing how many eagles are in the area, and how close to us humans they get.

Mar 14, 2008 10:33 AM #1
Rainmaker
183,223
Debbie DiFonzo
Debbie DiFonzo - United Country VIP Realty, SW Missouri - Lebanon, MO
Lebanon MO and Buffalo Missouri Real Estate
I've never heard of this practice. If I was to consider such a showing, I would certainly set an appointment and then refer to it as a "pre-view." Follow up here would be key - no reason to keep the agent and seller on pins and needles - you're client isn't interested in the previewed home.
Mar 14, 2008 02:37 PM #2
Rainmaker
44,359
Julie Winter-Paez
Re/Max Property Pros LLC - Eagle River, WI
Broker/Owner

 

Thanks for the feedback.  I think the preview idea is great but I think we have to be careful b/c we are bound to bring actual Buyers through homes.

Thanks for the comment Laurie about how beautiful our part of the country is. I am so desperate for Spring this year for some reason so I am looking forward to seeing the countryside a little bit more soon.

Thanks again,

Julie

Mar 20, 2008 05:59 AM #3
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Rainmaker
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Julie Winter-Paez

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