Suppose you want to buy a townhome that is listed at $460K. A conversation with the listing agent reveals that 15 buyers have already made offers, and bidding has passed the $500K mark, but you don
Shut your mouth!
Dated: June 12 2021
The current seller’s market is a popular topic of conversation among both agents and clients these days, but a recent conversation shows how casual talk can sometimes go too far. A modest three-bedroom home, listed at $700K, was bid up to $791K. At the home inspection, the winning buyer mentioned to the seller that he would have offered $800K if necessary.
This buyer probably thought that since a contract was already signed, negotiations were over—but he had still to send the seller a Request for Repair. With his off-hand remark, he signaled to the seller that he would not back out of the deal even if he had to eat $9,000 in repair costs during the repair negotiations. An agent who divulged that kind of information would be in breach of his responsibility to his client! This is one of the reasons why I discourage lengthy conversations between my clients and the principals on the other side. Sometimes without even realizing it, you might be negotiating.
As a residential real estate executive with an extensive background in corporate marketing, I am able to apply unusually strong skills in marketing communications, e-marketing, strategic planning and ....