In most cases, a seller’s representative will give interested purchasers a tour of the property. There is a rational explanation for this. There is always the possibility that the seller may make a mistake, which will put the transaction at risk.
Gain a better understanding of the various blunders that might be made by sellers while presenting a house.
Things That Should Never Be Discussed Between a Home Seller and the Buyer
It is stated in the Code of Ethics published by the National Association of Realtors, which all REALTORS® have agreed to adhere by, that a buyer’s agent is not to intervene with an agent’s listing. This is something that all REALTORS® have agreed to do. The Code also states that an agent is responsible for treating all parties in an equitable manner; nevertheless, the Code of Ethics does not prohibit a buyer’s agent from extracting personal information from a seller when the seller is willing to supply it1.
All too often, sellers respond to inquiries posed to them by other agents because they don’t believe they are doing anything incorrect because they don’t believe they are doing anything wrong. They do not consider it to be a mistake when information is provided. However, the things that people say to an agent or a possible purchaser may have significant repercussions.
No matter how innocuous a subject may appear, a salesperson should never broach the following subjects with a potential purchaser:
- The current asking price for goods
- The amount of time that the property has been put up for sale.
- What prompted the seller to make the decision to sell
- The prices of similar residences that have recently been sold
- Are there any price reductions that might be considered?
- Possible problems that might be found with the house
- What is the total number of bids that the vendor has received?
- When the seller would prefer to have the transaction completed.
When a buyer engages into discussions with a seller to purchase a house, the buyer may and will use whatever the seller says against them as leverage in those negotiations. For instance, if a seller states that they are under contract to purchase another property and they hope the home sells quickly, the buyer may not give as much as the buyer would pay if they were unaware of this information.
It’s possible that buyer’s representatives may use pressure to get information. You are in no way required to respond to this. The best response a seller may have to these kinds of queries is either to not answer the topic at all or to say something along the lines of “You will have to ask my agent that question.”
Why Would a Home Seller Show Their Own Property?
Why would a seller show their own house to potential buyers, particularly when the seller is already working with a real estate agent? There are a few quite typical causes that may lead to this outcome. It is common practice for real estate agents in various regions of the nation to phone the seller of a house in order to schedule a showing appointment.
For instance, it’s possible that the seller still lives in the property and is there when the buyer and the buyer’s agent come to look at the house. When a buyer comes to the door with their agent in tow, the seller of the house should leave the property as quickly as possible; nevertheless, even words made by the seller on their way out the door might create complications. It is not necessary for a seller to be there during the whole of a house tour in order to make an embarrassing gaffe.
There are also situations in which a renter may not be cooperative, which would need the presence of the seller during showings of the property. It is possible that tenants will not answer to requests for showings made by a buyer’s agency or a listing agent. Instead, tenants may choose to open the door solely for the property’s owner. It’s possible that a seller will refuse to let an agent install a lockbox on the property and instead insist on seeing the house personally.
The Function of Your Representation
When trying to sell a house, a seller will often engage a real estate agent so that the agent can handle communications with potential purchasers. As the seller, it is your responsibility to ensure that the property is in show-ready condition and to delegate all other responsibilities to your agent. Do not be afraid to ask your agent questions and do not hesitate to provide any comments you may have.
It is important to keep in mind that a listing agent acts as a go-between for the buyer, the seller, and even the buyer’s agent. Give your agent the opportunity to earn their commission as they work to safeguard your investment.