Discuss the Predictible Bad News in Real Estate
It Doesn't Speak The Devil 👿 Into Existence
Can you speak truth to your clients?
Do you share upfront, the predictable bad news?
Can you point to the elephant in the room,
or warn your clients that he may be at the door?
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For Buyers:
- You may be alerted to a home by me that goes under contract before we can get to it.
- There may be multiple offers, that creates an auction situation and that raises prices and reduces terms and time frames.
- Cash offers often dominate loan offers. Not always, but some sellers get green envy.
- Your offer, in order to get accepted, may be countered on price, terms, or time frames.
- The request for repairs may be declined completely or reduced to a few repairs or a crdeit towards these repairs for you to do on your own.
For Sellers:
- Some potential buyers/agents will leave your home with the doors unlocked and lights left on, we try to minimize it but we can't control it.
- Some buyers will look at your home without being approved for a loan yet, because their agent lacks skills.
- Open houses can experience petty theft, damage or worse.
- Some buyers will flake out on the offer you accept due to buyer's remorse, finding a better home (in their mind) or pink elephants - meaning the reason is irrelevant in most cases unless it's due to the home's disclosures or seller behavior.
- Some buyers will submit ridiculously long or "nickel and dime" level requests for repairs.
- Some buyers will offer more than the home appraises for and then try to get you to reduce the price.
- Some buyers will have a financial issues in the 11th hour that may delay or detonate our deal.
This is just a sample of the many predictable truths that experienced agents are aware of, which we can use to build trust with our clients by discussing them upfront. When an issue arises that clients have been warned about, it enhances trust, rather than leading to questions like, 'Why didn't you warn me this could happen?'
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