Shut your mouth!

Dated: June 12 2021

Views: 8

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.

Blog author image

DAVID DUNLAP

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 ....

Latest Blog Posts

Winning despite missing information

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

Read More

All ME, all YOU, or teamwork

If you are considering buying, selling, or selling and then buying a home, choosing how you will relate with real estate professionals is fundamental to your ultimate success. There is a spectrum of

Read More

What are you doing New Year's Eve?

This weekend proves once again that the real estate world never sleeps. Over New Year’s Eve and New Year’s Day I showed two townhomes to clients and prepared offers for both. Each one

Read More

Price per Square Foot

Some buyers I have run into seem to approach their search for a home with a single selection method: they want to meet or beat their target price-per-square-foot. This measurement can provide a

Read More