An upsetting factor that many people looking to sell their home overlook is the fact that realtors depend on the sale of their client’s home to get paid, and thus will often say whatever it takes to secure their client or win that sale. Have you ever been in a situation where you told a lie to further yourself financially or professionally? It’s more common than you’d think, and it’s why every seller should be aware of what their realtor can control in their transaction, and what they cannot. We’ll touch on a few common misleading statements we’ve heard over the years given to sellers by their representation when selling their home.
1. Promised Sale Price
The most common is a promised sale price. This, although seemingly an obvious exaggeration, can be taken at face value by many sellers and bring them promises of certain dollar figures that the realtor cannot assure in good faith. With the market evolving at a rapid pace, a fair market value one week may be drastically different the next. It’s important to not allow yourself to get caught up in a promised sale price, as those promises are often empty.
2. Guaranteed Sale Date
Another common mistruth told to sellers by their realtors is that they can guarantee they will sell their house by a certain date. This promise can mislead sellers into securing a move-in date for their new home based upon an entirely fabricated time span. This can cause major issues financially, for both the seller and the buyer. No two houses are exactly the same, and this can be said about experiences selling, too. Regardless of the state of the home or how desirable its location is, prospective buyers are the ones making the decisions, not your realtor, and unless they plan on purchasing the home themselves, they cannot in good faith provide a promised sell-by date. Houses don’t expire, after all, but realtor contracts do.
Lastly, a common promise made to sellers is that they’ll secure certain concessions from prospective buyers. These can include promises of a quick closing, waiving inspections, or a number of other specific hoops that many buyers will jump through to secure a home. This is untrue, as the realtor again cannot speak for prospective buyers unless representing them as well, and are thus giving false hope to sellers based upon these assurances.
All in all, it’s imperative that sellers are aware that at the end of the day, realtors are trying to make money, just like sellers are trying to sell their home. It is a business transaction after all, and one cannot assume that either party is looking out for the other. If that leads real estate professionals to making false promises and giving sellers empty assurances, this could seriously damage the trust between client and realtor, and further exacerbate an already stressful and overwhelming situation. If you’re looking to avoid these fabrications and sell your home with a truthful and experienced team, Ottawa House Buyer is here to help.