When you hire a real estate agent to sell your home, he or she is referred to as the “listing agent.” A listing agent has multiple responsibilities, including helping you to determine a fair list price for your home. They’ll market your property, schedule showings and act on your behalf to answer questions that buyers or their agents might have about the home. You might cross paths with prospective buyers on occasion. For instance, they might arrive a few minutes early for a showing and catch you on your way out.
If small talk turns into questions about your home, it’s best to avoid further discussion, advising them instead to direct all inquiries to your listing agent. Answering questions and providing information to a buyer can backfire big time, especially when it comes time to negotiate price. You might think it’s okay to speak with a buyer’s agent as long as you don’t talk to the potential buyer directly. However, in real estate, you can assume that anything you say to a buyer’s agent is going to be relayed to the buyer.
Examples of statements that can backfire on sellers
Imagine a buyer asking you when you hope to move, and you say “the sooner the better” because you’re already under contract on a new home. While you might think that you were merely being honest and sharing seemingly insignificant information with a person who has come to see your house, this type of comment could theoretically cost you money.
If you let on that you’re under pressure to sell your house quickly, a savvy buyer (or buyer’s agent) might try to negotiate a much lower offer than would have normally been put on the table had you not shared the information. If someone knows you want to close a deal as soon as possible, they might assume that you’ll be willing to accept a low bid.
Listing agents know how to word things
When you’re not in the business of selling homes on a regular basis, you might accidentally say things that could deter a buyer. For instance, if you’re chatting with people who have come to tour your home and mention that the neighbors kept you up all night with their loud music, that one comment might equate to three strikes against you for getting an offer on the house. After all, no one wants to buy a house next door to loud, inconsiderate neighbors!
It’s best to leave all discussions about your home, whether speaking to a buyer’s agent or potential buyers themselves, to your listing agent. An experienced agent knows how to phrase things to be forthright and direct while also highlighting a home’s best features and presenting it in a positive light. If your goal is to get offers and sell your home as swiftly as possible, it’s best to let your listing agent do the talking.