Tough Chats in Real Estate
The market has experienced a shift. While I am the first to pull the reigns in on anyone calling it a “buyer’s market”, I am experienced enough to know that any listing I take MUST beat out any competition. I’ve always said that buyer arrogance leads to no yard to hang out in, and seller arrogance leads to rusty signs in yards. No matter what, being a good real estate estate professional is about being honest, and sometimes quietly telling your clients what isn’t fun to hear. These are some of the tough chats I have to have in real estate:
1. The way we price your home MUST have a strategy backed by data, market conditions and experience. The advice your non-selling neighbour or non-house-owning colleague at work gives you is worthless.
2. You will need to prepare your home to sell. You have to get rid of stuff before we list it and you may even need to have a “painting party” with your friends and family.
3. Buying a property is NOT easy. You will have to see houses at inconvenient times. You will need to get a bank draft to accompany an offer. You may need to pay a lawyer to review a status certificate with no guarantee of buying the property. There will be a commitment needed from your end.
4. When you take possession of your house, it will not meet your standards of cleanliness. I once had a buyer call and tell me that the sellers took EVERY LIGHTBULB from the house when they left. It was February and got dark at 5pm.
5. Holding your lending details close to your chest has no value. If I am representing you to a seller, I need to know who it is I am representing. In addition, if you are looking at a property that certain banks won’t lend on, telling me your lender details after we have made an offer will result in bad things.
6. The process of buying a home being sold privately will be slower and more frustrating than a traditional sale. Those kinds of sellers often overprice their homes, have “convenient forgetfulness” when it comes to defects and often don’t follow rules when it comes to competing offers.
7. The night we have offers on your house, your street may look like a Super Bowl party. It may also look like a ghost town. We need to be prepared for both possibilities.
8. Sometimes other agents don’t follow the rules. Sometimes to suit their own selfish interests, the conduct of other agents is downright deplorable. And there is little we can do about it.
9. They don’t sell newspapers printing good news. I’m not saying the newspapers intentionally mislead, but specifically with respect to the real estate market, there is often cherry-picking of statistics going on.
10. If you lie to me about fires, floods, deaths, asbestos, broken things or special assessments you will get sued. I can’t PROTECT you from what I don’t KNOW about.