Ok… as a followup to Part 1 of this series, I’m not saying ALL other agents wouldn’t do these things, but the majority of them WILL NOT do these things, or simply don’t have a clue what to look for. Each example I give applies to my personal seller experiences…
Would Other listing Agents help out a Seller by pointing out and helping to correct any defects?
Very recently, I took a buyer through a house that had major foundation issues in the garage, and upon closer evaluation; several concrete issues. When I mentioned this to the listing agent, she didn’t have a clue. Did she even take a look inside the garage? How is that looking out for the sellers best interest? She told me she had another offer and wanted to know what my buyer wanted to do… and I told her about the problem. My buyer decided to wait, and about ten days later I got the call from her stating the other buyers backed out, because of the same issues I told her about. Even if the sellers deliberately don’t mention known defects… it’s a listing agents obligation to PREVIEW THE HOME AND PROPERTY FOR OBVIOUS DEFECTS so that they can come up with a strategy to either take care of the issue, or come up with solutions when; inevitably, a buyer or buyers agent (or their home inspector) brings it up.
Sellers also need to disclose known defects in writing (Seller Disclosure), so part of my job is to “get it out in the open” to avoid potential liability and legal issues after the deal closes. Why let it get to the point where the buyer hires a professional inspector to point the same issues out? Now you just wasted precious time off the market and went through all the motions of accepting a purchase offer, etc. only to have the buyer demand the seller fix or remedy the issue; drop the price, etc. or have the deal fall apart entirely.
Here’s a few other “hot topics” that sometimes the sellers aren’t even aware of…
- maybe those dark spots or discoloration could be mold… we better have it checked out and/or cleaned up before you go on the market, or be able to explain that it’s just “dirt”
- is your attic properly ventilated? I better take a look up there… oh; by the way, there’s evidence of staining in this or that area of your attic… we better have that looked into before you go on the market
- do you have copies of permits that would have been required for that addition or other improvement? Can we get copies? Did you use a licensed contractor to do the work?
- this wiring in the basement isn’t to code… do you want to address this now, or wait to have the buyers home inspector point it out?
Bottom Line: How many other agents take the time to carefully preview what they’re listing? Are they really looking out for their clients best interest if they can’t point out and strategize around issues that will inevitably cause problems getting a deal to close? Other agents will say “it’s not my job”… I beg to differ
Watch for Part 3 of this series… to be continued