It amazes me that there are real estate agents that don’t seem to get that being completely honest with a home seller may be hard, but it’s the right thing to do. Not long ago, I heard from someone who had been trying to sell their West Bank home with no success. They asked me to take a look at the house and give them my opinion on pricing it for today’s market.
When I visited, I found several items of deferred maintenance that would keep the house from attracting the most qualified buyers, especially the FHA buyers that are making up the majority of home sales in the area. There were lots of little things too, and it’s my practice to let sellers know about everything that could be improved, explain why they need to be improved and recommend the most critical things to be addressed before a house goes on the market.
Sometimes, this means that I don’t get a listing, but I wouldn’t be doing my job if I didn’t address condition. Most owners are open to doing the things that are needed, but there are always those who have a “take it or leave it” approach about the condition of their home, even when just a little bit of time and money can put them into a higher price range.
In my opinion, the house needs to shine from the first day on the market.
So, I gave them a list of repairs and improvements that I thought were necessary before the house would be worth what they are hoping to sell it for.
I got the following email:
Lisa - Thank you for your honesty. I had asked my previous realtor to let me know the things that we could do to fix it up and she didn't have anything to tell me. I appreciate your honesty and frankness….
Why would an agent not tell someone what needs to be done to make their house marketable? It is our job as professionals to promote our client’s best interests and appealing to the broadest market is definitely in their best interest. Also, if there are issues that are going to keep a house from selling quickly or at the listed price, it’s the job of the agent to counsel the sellers in advance about how those issues may affect their ability to sell.
Don’t get me wrong. I don’t like to be the person who tells someone that their house needs to be cleaned or decluttered or deodorized. But I also don’t want to be that agent that isn’t honest with a seller.
When you are choosing a REALTOR, make your selection based on more than just what price they are willing to list your home at or the commission they are charging. Find an agent who is realistic and candid about what you need to do before putting your house on the market.
That’s what they are getting paid for.
Originally published at West Bank Living
Honesty is hard, but if they don't want it before you list, sometimes you are just wasting your time and effort listing because in this market if it is not in turnkey condition, it won't sell and you are wasting both your and their time anyway. Great Blog!!!
Hi Lisa, Great post! I let my clients know my "no nonsense" approach to home inspection as well. I think you have to set the expectation up front so when you give them your honest opinion they're ready. thanks, jay
It sounds like that agent is a wimp or just desperate to get the listing. It sounds as if your sign will be in the yard in the near future.
I think any sellers would be happy to have an agent like yourself. I wish all agents were as professional and honest as you are.
Hi Lisa-
You are so right that you have to be straight with the Seller. Sometimes, we can't make a sale happen, but these improvements will always make it more possible.
Sara
If it's standing between them and a sale, they need to know. They may not listen (especially if it's price), but they need to have the facts to make the decision!
Good job. Often times the moot agent or even the opposite -- the one who BSs all the way through a lengthy set of big mouth sales pitch -- gets a deal then when they don't sell it, the consumer comes back to you anyway. That's never happened, right?!
Lisa - you took the right path. I think some agents shy away from honesty and the facts because they believe it will "lose" them the listing. You didn't. Not only did you get the listing, I hope, but you did our profession proud.
Lisa: Telling the client what's wrong is easy, acutallyu getting them to fix things is a bit more tricky. Not telling puts the agent on the hook!
Being honest with sellers is the only way to help them to the best of your professional ability. I always tell them "you are going to be paying a lot of money for my service and it is my responsibility to give you the absolute best professional service, even if it means telling you things you don't want to hear!" When I put it to them like that, they usually get excited, get on board and we get that house sold.
Hi Lisa,
Being straight forward and direct works for me. I've had sellers say that I've told them what they need to hear vs. what they want to hear. Why some agent don't? I'd imagine it's out of fear.
Too many agents are just willing to buy the listing. I don't think that will go away for a long time.
Thanks for the post. Being honest to the seller helps everyone. The seller gets offers on his home and passes inspections and you get a commission.
Never ceases to amaze me that we often go out of our way to make the job harder. Whether a people-pleaser issue, fear of losing the business or a deep seeded aversion to profit and success, nobody wins in that situation.
I have no problem telling people their house needs to suck less if the goal is to actually sell it.
I am using Paul's verbiage on my next appointment. Your home needs to suck less.
I face this issue all the time. Agents that have trouble telling the 'truths' about a house rely on me to do it for them. It is part of my job ;). Good post.
Thanks for the feedback, everyone. I'm trying to figure out how to incorporate Paul's approach into my next listing appointment ;)
Lisa a lot of sellers don't like to hear the truth. They like to hear an agent tell them it will sell for this amount. In reality it won't you know it and I know it. I have been saying for a while now I feel a lot of homes won't sell because they aren't that nice to begin with.
I hate that. Blowing air up someone's skirt just to avoid offense doesn't help anyone...
If I know that there are issues with a home that will cause it to be less than marketable and I don't say something to the seller...well, I haven't done my job, have I? If they opt to ignore my advice, then that is on them. But, we cannot gloss over things that we know will be a problem for them as soon as the first offer rolls in.
I agree wholeheartedly with you Lisa, especially when it comes to opening up your pool of buyers. The more potential buyers you have the better chance you have at finding the right buyer for the home. Being able to attract the biggest pool of buyers (FHA), allows the sellers to accomplish the sale. I believe selling a home is a team effort by us, the Realtor and the seller. They have to be on board and keep their house in showing condition and do the things to make it more marketable, otherwise, they will not get the most money they can for the home. We can work hard and do what it takes to get them in the home, now it needs to show well and close the deal!!!
I really enjoed this post and also wanted to say Congrats to the WhoDat Nation for winng the ESPY for Best Team, and Drew Brees for winning Best Male Athlete!!
And I mean that...HONEST!
Kim, to me that is the biggest part of preparing for a sale - making a property ready for the highest number of qualified buyers. Allowing a seller to just throw a house on the market without any preparation or advice for improvements is just crazy.
Russell, LOL - thanks!
This was a great post, Lisa. Too many agents are willing to just tell the seller what they want to hear these days. And lets face it, many sellers just want us to tell them that their home will sell for $15,000 over market value because they lived there. Being unrealistic is just as bad as being untruthful or misrepresenting the truth to the seller. As we all know, there is a big difference between honesty and brutal honesty. You can tell the sellers the good, the bad, and the ugly about their home sale but you don't have to chop their legs off at the knees in order to do so.
~Emcee
A well deserved feature Lisa. Any client that works with you is a lucky client!
Emcee, that last sentence is more than a mouthful! And oh, so true. Thanks for such a wonderful comment.
Susan, :)
Hi Lisa- You have to wonder why a Realtor would give a seller information that would help them in the sale of their house. I provided a Staging consultation for a seller whose home had been on the market for about 1 year, while she and her husband were out of town. She repeatedly asked the Realtor what she needed to do to keep up the property. The Realtor assured her that all was well. When the seller returned, she ended up putting in about $6000 in work for delayed maintenance inside and out.
Hi Lisa, We should always be honest. I am and my clients trust me. I wonder why anyone would be dishonest in this profession.
Our office likes to tour all new listing with as many agents as possible - this give the listing agent some backup when having to tell a seller the stuff that needs to be corrected. I like this approach a lot. Thanks for addressing the honesty thing...
Well written and nicely said. I see all to often that others say what they think what others want to hear. It definitely takes more to tactfully tell sellers what needs to be said and goes farther.
Well said Lisa! Honestly is always the best choice, even thou you might be passed over for the listing.
I just took a listing on a property that the owners were out of the country for the last 3 years, I had rented it on a seasonal basis and now they wanted to sell. It's hard to be honest, but it's necessary and can be done tactfully. The interior was great, but the exterior needed a pressure cleaning, some touch up painting - including the front door - and some new, fresh plants at the entry - aren't those some of the 3 main things on most curb appeal lists - I went by today and it looks great - and now comparable to the others that are for sale in the subdivision. It's now ready to show. If you ever watch the HGTV channel's shows on getting homes ready, and what a few thousand dollars can do. We need to help sellers understand that making it appealing to buyers will definitely help with the sale.
It's always a good thing to suggest enhancements to make a home marketable, and let the seller decide. If they don't do what you suggested, the next best thing is to tailor their expectations, lest you get the blame for the property sitting on the market with no offers. They'll soon learn (the hard way), and realize they should have gone along with your suggestions.
Jane Pacheco
Your correct, tell the truth. Even if they don't want to hear it, sooner or later they will listen
Lisa--right on!!!
Honest is the best policy. Why? Because it is the only policy in the end. You can either honestly answer their question [in this case about what do we need to do to get top dollar for our house?], or you will get around to it when forced to admit you knew that repair would have to be done. You will either tell them now, or be admitting it when someone else tells them: such as a buyer offering less because "I will have to replace that roof". It always gets back to truth.
The seller needs to hear the truth and I agree with others that many are looking for that. It does get rough when the sellers listen and make the improvements and price it for the market and it sits there due to a bloated market inventory and buyers looking for give aways. You make great points in assisting the seller to reach their goal of selling.
I hope you got the listing and it will sell quickly.
Sue of Robin and Sue
Lisa,
Honesty is the way to go! If people don't want to hear it then it's their lose and their headache at the end of the day. Sooner or later they will come back to you because they know that you're someone they can trust. Thank you!
Jose.
Congratulations, Lisa. That is how we gain respect, and sometimes get the listings.
Lisa, that's the best approach. Besides, if you take the listing, but don't discuss the updates and cleaning and other things at the very beginning, you will have to do that later on anyway. So why postpone it till later? It'll be harder.
What a great post, Lisa. I knew I liked you for a reason : ) I have a seller who recently asked why I wasn't pushing her to sign the brokerage contract right away. I told her that once the contract got signed, I had a legal obligation to get it up onto the MLS system right away (unless she opts out of the MLS). Her house wasn't yet ready, as she had a list of items I had suggested she needs to take care of, and I wanted her house to shine the moment it went on the market. I told her that once it's open to viewings, it needs to be looking its best - not a work in progress. She found this approach refreshing and liked how it was oriented towards her best interests, rather than rushing the signing of the contract and loading it onto MLS in less-than-stellar condition. Just doin' my job, ma'am. I like the way you think, Lisa.
P.S. I'd like to re-blog this on my web-site, with full credit to you of course. Would that be OK with you?
In a challenging market, I always start with inventory vs. sales. Once the homeowner understands that there is over one year of inventory on the market, we talk about how to make sure that his is one of the quicker ones to sell. With that motivation, we then talk about the things he needs to do to his home before it goes on the market to make sure it's one of the ones that sell.
Might I lose some clients with this approach? Maybe. But maybe I'm just losing a listing that would languish unsold. And who needs those?
Lisa, your honesty is what will get the home sold. I think most people appreciate honesty. Thanks.
It's great you are honest and up front with the sellers. But to be fair to the other agent- you really don't know what he/she told the sellers. I list a lot of expired listings and hear stories about their previous agent that I know are not true- agents I've know for the past 20 years. All you really hear is the seller's version of what they were or were not told. Have they made the improvements, yet that you advised?
Lisa, you are a breath of fresh air. Clients need our "professional" help more than ever. However some agents simply don't understand that they are doing themselves AND their clients by taking short cuts like not telling clients what needs to be done to improve the home for sale. End result = home doesn't sell = disappointment for BOTH parties!
Lisa,
You are right on target with your post. Most agents will tell the homeowner what they want to hear in order to get the listing. By being honest with the seller, you are showing them the true professional you are. Make it a great day!!
Thanks everyone, looks like we are all on the same page :)
Tanya, of course you can use it! I'm flattered that you would want to.
Jackie, you are correct that not all sellers want to take responsibility for not doing what their agent told them to do. This particular seller is now in the process of fixing the most important items on the list plus dealing with a more recent problem that came up. Still not on the market, but when she is, she'll be ready for the competition.
Lisa,
Honesty is the right thing, no matter what the information is that we have to deliver to the seller. And if it costs us the listing, then that's the least of our worries. At least telling the truth doesn't cost us our conscience.