No seller wants to think their agent is working for the buyer, but in the big bad world of real estate, this happens ALL THE TIME.
How do I know?
Because throughout my many years in the industry, I’ve see it in action time and time again from agents who are quite simply, desperate for a sale. Any sale, at any price, despite what is in their client’s (the seller’s) best interests.
So why do they do this?
Because sometimes taking the easy road is simply that, easier.
But at the end of the day, it’s the seller who suffers the most if they happen to have hooked up with one of these agents in the process of selling their home.
So how do you avoid all of this as a seller and what are the telltale signs that you’ll end up duped into accepting a lower price or inferior conditions to your sale? Conditions that mostly benefit the buyer and not you.
You see, at the end of the day, the BIGGEST telltale signs always point back to pressure.
If your agent is applying pressure to the outcome of the sale and this pressure is directed at you, or you feel a slight sense of being rushed, then this is a huge sign the agent is looking for a quick deal and will probably be working more in the buyer’s interests than yours.
Quite simply, a good agent won’t make you feel rushed or pressured.
Great agents know that the selling process and negotiations can take time and in order to get the best result for a seller, it is sometimes inevitable to play the waiting game for the right buyer at the right price.
Sure, this person could come in the early days and many agents will often sing the tune of “the best offers come early”, and yes, this is sometimes the case, but what you need to be mindful of as a seller, is the way your agent acts and what advice they give when a LOW offer comes early.
Are they busting their chops to get you to sign on the dotted line and get the deal done, or are they advising you to hold out for a better price?
Telltale sign No 1.
YOU’RE PRESSURED TO ACCEPT THE FIRST OFFER YOU GET.
Now, when the contract is being negotiated, does it seem the buyer has a string of special conditions inserted into the Contract that are all in favour of the buyer with no recourse for you the seller?
Telltale sign No 2.
THE CONTRACT HEAVILY FAVOURS THE BUYER.
A good agent will never allow the majority of special conditions to fall in the buyer’s sole favour.
Negotiating a fair contract is all about give and take and if it all seems to be swinging in the buyer’s favour, you need to be asking why.
Telltale sign No3.
YOU GET A NIGGLING SENSE THAT YOUR NEEDS ARE NOT PRIORITY.
Never ignore what your intuition is telling you, which leads me to my final point.
If you even suspect in the slightest that your agent is not working in your best interests, then you’re probably right. Gut feelings often ring true. Go with it!
Feeling like you’re being pressured too soon or even if you get the sense the agent is agreeing with the buyer too much and too often, then this could also be a telltale sign you need to pull the agent back into your corner, or work with a new agent.
One more thing I’d like to add, sometimes agents don’t even realise they’re working for the buyer!
The biggest telltale sign of an agent who is oblivious to the fact they’re not really working for you, the seller, will be their inability to guide you and give good advice.
They don’t mean to work for the buyer, but since they’re so poor at their job, they end up doing it anyway!
Just recently, a good friend of mine’s father was selling his deceased brother’s estate.
He went with an agent who he thought would do a fantastic job and could really help him through this difficult time.
Turns out the agent was nothing but an order taker/facilitator of the process who did nothing but put the property on realestate.com.au and then relay information back and forth between the parties, giving NO advice on what my friend’s father should do, or accept.
Rather than give him the right advice when it came to negotiating the price, she simply stood back and let him make all the decisions on his own.
Later when the contract was signed, she mentioned to him that she was surprised he’d accepted the buyer’s first offer, because she thought he would have tried for more.
Wow! Isn’t that the agent’s job to give this advice in the first place and do all they can to get the maximum price for the seller?!
Note to self. You DON’T want to be working with this type of agent.
The right agent will be monitoring the motivations of the parties, consistently communicating and providing the right advice when it’s most needed, whilst getting the very best deal they can for their client, the seller.
If you suspect you’ve chosen the wrong agent, there are ways out of the Agreement. Talk to your solicitor or get a second opinion from another agent if you feel you might need to jump ship.
If you would like to work with someone who really does care about your sale, get in touch with us here.