Thursday, June 15, 2017

5 Things You Should Never Say to a Buyer During Your Home Sale

There are five things you must never say out loud to a prospective buyer while your home is on the market.

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You know the expression “Loose lips sink ships?” Well, that saying holds true for the real estate world too. If you’re selling your home, there are certain things you must disclose to a buyer, such as whether your home has lead paint, there has been a death on the property in the recent past, the home is located near a busy street, etc. However, there is plenty more information you might volunteer that you’d be much better off keeping your mouth strategically shut about. The same goes for the Realtor representing you. To help hone in on your “less is more” attitude when it comes to talking to prospective buyers or their agents, here are five things you should never utter (in no order of importance): 1. “Our house is in perfect condition.” Of course it is. Your home is your castle, and in your eyes it may seem perfect, but don’t make claims that aren’t true. The home inspection might reveal otherwise, and you don’t want to wind up putting your foot in your mouth. There is no such thing as a perfect condition when it comes to a home. Every home—whether it’s brand new or a resale—has something that could be fixed, adjusted, replaced, or improved upon.

There is no such thing as a perfect condition when it comes to a home.

2. “It’s been on the market ___ days.” Never ever discuss how long your home has been on the market with a prospective buyer or their agent. This information is already provided on the MLS or the home’s information sheet, and bringing it up—especially if the home’s been on the market for a while—can send the wrong message. No one wants to buy the white elephant of the neighborhood. If they do, it’s probably because they think they can get it dirt cheap.

3. “We’ve always wanted to fix or renovate that, but…” Mum’s the word when it comes to fixes you intended to address. This only alerts the buyer of more upcoming costs for them, and they may not even want to take on a bathroom or kitchen renovation. Why plant those extra dollar signs in their head?

4. “We spent a ton of money on (the patio/kitchen/etc).” Just because you love the Brazilian cherrywood flooring you installed on the first floor doesn’t mean prospective buyers will be willing to shell out for that. The buyer doesn’t care whether you spent $10,000 or $100,000 on your kitchen—they’ll only offer what they think the home is worth in relation to the area comparables. You would do the same thing. Save your breath, or else you’ll sound like you’re trying to justify your price, and nobody wants to hear that.

5. “I’m not taking less than ___ for my home.” I understand that you want to sell for top dollar, but it’s important to be realistic and open to offers within a reasonable range—something that’s fair to you and you would be happy with. If you send a message right out of the gate that you’re inflexible or not open to negotiation, it doesn’t invite buyers to even try to work out an acceptable price and terms with you. They may feel defeated from the very start and word might spread about your sentiment as a seller. This can cause people to avoid your house altogether. If you have any questions or need to sell your home, don’t hesitate to give me a call. I’d be happy to help you.