No, no, no ----- Don't let your seller do this!

It's amazing what some sellers share because of their over excitement!  I hope your client gets the house.

While I am assuming that you were a buyer's agent for your buyers, but on Long Island, most agents are not. So in the end wewould not have come back to the car and tell the buyer the extra info that was mentioned. That is because we are either a seller's agent or a broker's agent and are still working for the seller. And yes it s sad that on LI it is that way, but it has not caught on yet.

As for myself I am a certified Buyer's agent and try to get most of my buyer's to sign the agreement, so in that case they would have  had the advantage.

In any case those sellers were not well informed by their agent. I always counsel my sellers when I have a listing to keep quiet and refer the to me to answer questions if they MUST stay home.

But I have seen it happen on both ends; a buyer blurts out something and the seller responds in kind, I guess it is human nature. So It try to keep both parties separated as much as possible.

Kathy, gee why can't sellers keep their mouths shut and leave during showings, at least go for a walk with the 3 daughers, now it is going to cost them money.

Kathy - good advise!!  You are a real pro if you had a showing with three little girls in tow and the owner hounding you.  Of course the seller will take credit for the sale - if it goes through!!

Have a wonderFULL Day - everyone!!

Jan Whitlow, ASPM, IAHSP

www.SellingEdge.net

Kathy, as much it is hard to believe, these things happen. Similar things have happened throughout the years, and... my buyer always took advantage of the situation.

Hello Kathy, I am no longer amazed at what a seller will tell you once they start talking. All you have to do is keep quiet and they can't take it! Recently I showed a $950000 new home, the builder was there, his quote, I have a $25,000 buyer incentive on this home! OOOO K, now we'll negotiate from $925,000 Lol. Good Luck!

Great, post Kathy. But I'm not certain the seller did most of the damage. First, let me say that as a Buyers Agent in St. Petersburg, Florida I SEEK just the type of intelligence the seller in your case provided, and frankly love finding sellers in the home. They do talk too much, and it's a good idea for the Listing agent to keep them away or muzzled for their sake.

But for the sake of getting the sale done-and that's the idea, isn't it?--it's good to have a perspective about where everybody stands. Sure, your buyer went low. He should in this market anyway and that's what I would advise him-even if the seller hadn't spilled the beans. I recently showed a home listed at $475,000, already below market and just reduced $50,000. My clients loved it and were willing to pay $450,000. Based on all the intelligence I acquired (without speaking to the seller or help from the LA) such as when purchased, how much owed, days on market, and condition of market, I counseled my clients to offer much lower and ultimately they purchased at $439,900. Now, I sacrificed some immediate commission dollars. But I've created "long tail" commission potential. The clients love me. They will not only refer me, but act as advocates--generating more prospects and sales.

But back to your situation. The circumstances you describe suggest the home was over priced from the SELLERS perspective. They were willing to offer concessions, presumable because they were anxious to sell. Frankly, the LA should have reflected all that in the MLS-likely attracting more potential buyers-and leaving the seller with nothing much to say other than how great the house was.

 All the best...Steve Baal

Hi Kathy,

That post was on point!  Whenever I represent a seller, I always stress the importance of them leaving their homes during the showing process. Most are willing to do just that. However I did have one who hovered around. Fortunately, I was there at the time and when he decided to start talking to the buyers (their agent was not present), I politely interrupted and strongly urged him to take a walk, explaining to him how sometimes people are not as comfortable when you are at home. He did get the message and the very next day we had an offer!  

Silence is GOLDEN, and this lady has apparently never played poker, or perhaps she just didn't care what she told you, as she just wanted to sell the home...

you never know.

sometimes sellers help me find the problems to their house... so a big mouth isnt that bad all the time.. is it??

Sellers shouldn't be talking. One Seller is removing his listing, one reason he stated was that, when agents toured or showed the property (and he works at home), none of them ever asked him any questions--- so, to him, he believed they didn't take any true interest in showing his house!

When representing a buyer I do love  a chatty seller! 

I went to show one property and when we got there the family was there doing what they do.  Apperently something happened with communications what not, but the family was gracious enough to let us look as oppesed to rescheduling.  They all went to the front porch, did not bother us, thanked us for coming and off we went.  I thought to myself, "That LA did a great job preparing her client on such situations".  They never gave me an opportunity to peak at their cards and likely got a better for doing so. 

It's also possible that by saying she'd drop it by $5K, she'd really be willing to drop it by $20K and pay closing - it takes all kinds.

What a Great Post.  Another reason to always make sure the Seller is gone!

Here in Charlotte NC, the practice is for the seller to be out of the house for all showings when listed by a licensed RE agent. However, we do have certain agencies that "help" the owner sell. In these cases, it's the owner that shows the house...watch out!