(I wrote this back in 2005 as a result of some slanted media reports.)
One of the network news programs this Friday had a segment that suggested Realtors may not be interested in getting their sellers the maximum price for their property if it means just waiting for a better offer. The inference is that Realtors want the seller to accept an offer on the table, rather than wait for a better one. They even used a survey that indicates Realtors in a certain geographic area sold their personal property for 3%+ more than the average consumer.
Here is my suggestion to anyone who feels they are being pushed by a high pressured realtor who is seeking a fast commission check at your expense. Just say no.
Just say no at the initial listing interview appointment or at any later time, if you get the sense the realtor is more concerned about their check than your interests. Contact the realtor's broker if the feeling persists.
Just say no if they call you and say "we have a verbal offer", which very often are just fishing attempts to see where your bottom line might be. Make them put all offers in writing.
Just say no when an offer is presented and the estimated net proceeds are less than you are comfortable with. Ask your realtor if your listing price is correct and if not, why has it changed? If it is correct, then counter back at a price that is more acceptable to you or reject the low offers outright.
It really falls into the hands of the seller to decide their bottom line. That would seem to be the main reason Realtors showed a higher sales price (3% +/- ) as mentioned earlier. They, as sellers, waited or just said no to lower offers. Are their Realtors in this business that have a house payment due or some other pressing financial matter who are focused primarily on their own need to get paid over the seller's bottom line? To think not would be short sighted. As a seller you have the final say, use it. Just say no
They did have a Realtor on the program who made the point that often the seller is satisfied with the numbers and against the suggestions of their realtor, they accept the 1st offer that comes or one that is lower than may be obtainable with more time. This is true. Each seller's motivation is different. A realtor's job in part is to present the offers as they are delivered, explain the contingencies and provide a written net proceeds report for the seller to use in making their informed decision. A seller may ask for suggestions, but should never let their realtor make the decision for them.
In conclusion, a seller can go a long way to ensuring they sell their property for the best price possible by simply making sure they have hired a true professional who shows by their actions and words that they value the seller as a treasured customer. Spend some time interviewing Realtors as you would any professional service provider you may need. After you have chosen a realtor, the final decision rests with you. Do not be afraid to say no.
Related Florida real estate views:
Orlando home sellers: giving in, selling or losing their home?
Make sure you review an estimated proceeds document before signing an offer to buy your home
Smart home sellers listen to what the market is telling them.
- Greg Staker Watson Realty Corp. 407-304-0255
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