How to Keep Other Real Estate Agents from Making Your Home Sale Miserable
Barb Schlinker Radio Show
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We’ve talked before about the behavior of real estate agents representing buyers and how they can be difficult when selling a home. How do you keep other real estate agents from making the home sale miserable?
1. Let’s talk about how a typical real estate sale works:
● Seller lists with their Agent
● Seller pays commission
● Part of the commission goes to the buyer’s agent…
➢Effectively Opposing Counsel
●Lawsuit underway in Chicago about this
➢The seller has to pay for a Buyers agent to:
■Beat them down on the price
■Beat them down in inspection repairs
■Make demands about who is present for showings and inspections
■Whine if they don’t get their way
●Effectively seller is paying for Opposing Counsel
●Even in a Sellers Market, in my experiences I am seeing:
➢ Agents make ridiculous low ball offers
➢ Confront sellers about being in their own home for showings and inspections
➢ Tie of sellers’ homes while they shop around and figure out if they want to pay for upgrades
➢ Investigate the seller’s repair contractors
➢ Let inspectors in the home then leave
➢ Call sellers’ a fraud
➢ Reach out directly to my clients without permission
➢ And on and on.
2. Fortunately, many of the local industry knows I am not one to accept bad agent behavior.
○I will not hesitate to get in their face about it
○The typical result is the call me names… Ha Ha
○At the end of the day, I’m advocating for my clients
○The real estate agents have gotten used to being coddled into thinking the way we have always done it what is necessary:
■Ex Seller being Home for Showings – It’s their Home!
■I’ve had Agents and Inspectors order my clients to leave their homes for inspections
■I had one agent tell me, in writing when I let her know the seller would be present for the inspection, that the “buyer had a right to privacy”.
■I asked, “In someone else’s home???”
●Just this week this is how it went.
●The agent gets to the door.
●Seller opens door
●Agents say “What are You doing here?”
●Seller says, “It’s my home”
●Agent says ‘You are not supposed to be here and you need to leave and take your dogs with you so I can do an inspection” When I confronted her about it, she denied it!
It reminds me of that scene in the Titanic when Leonardo DiCaprio tells her to leave the deck and she turns around and says: “I don’t have to leave, this is my part of the ship, you leave!”
3. Then there are the concessions:
●Most agents (74% of them) sell 3 or fewer homes
●That means they may not be in tune with how Sizzle hot the market is.
●It used to be seller gave concessions. Now they don’t have to.
●Most sellers are pretty reasonable when it comes to repairs.
●But if they are out showing homes at all, they will quickly see that many homes are selling very quickly and with multiple offers.
●That does not mean they get to:
○Get a contract then keep shopping
○Get a contract and price improvements
■Most repair costs can be determined with a 10-minute google search!
●Home Sellers Should think twice about who they hire to represent them. The ones that do not sell many homes may not even know about the market conditions.
How Can Home Sellers Protect Themselves from Making Other Real Estate Agents make it miserable?
➔Manage expectations every step of the way.
◆Put in showing instructions if seller present
◆Most showing instructions now have a huge paragraph about not going if the buyers or agents are sick. Don’t we know that now?
◆Communicate with Buyers agent if the seller will be present for the inspection
➔Most of all… Hire an agent that sells in this market
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