Once I was holding an open house at one of my listings. A couple came in with their toddler to see the house. They went from room to room discussing how much they loved the house. I did not follow them around, but I could hear them.
Is it wrong that they did that? Well, sort of, but it could be worse….and it got worse.
Then right in front of me they start verbally placing furniture in rooms. “Our sectional fits perfectly here. My table is going to look great in this dining room. This can be my office but when Jim and Barb come and visit we can totally use this as a guest room for them so they don’t have to use stairs.” Yes, I even got family member names in this exchange.
When you are looking at a home, the worst thing you can do is talk about how much you love the house. Especially at an open house, in front of the listing agent or in front of other potential buyers. You lose all negotiating leverage when you do this.
The very next day the couple made an offer on the house. A low offer. My seller was not thrilled with the offer but we had not had much activity so she was willing to take it. I told her to hold out for more. I knew how much these buyers wanted the house and I new they would pay more and pay more they did. They came up another $8,000!
They were not in a bidding war. Had the buyer stuck with their original offer it probably would have been accepted but they showed their hand by talking too much. How do you avoid this? Here is how.
Even when you are alone in the house keep your comments to yourself until you leave. In this world of Alexa and other hidden cameras, etc. I don’t trust anything. Even our computers and phones are listening to us. Personally, it kinda creeps me out.
Do I sound paranoid? Perhaps. But I have been on the listing side too many times and watched as buyers played right into my seller’s hand. Don’t be that guy?
Want more buyer best practices? Call me, text me, email me and lets talk!
Alex Giannetti – (724) 779-3613 or AGiannetti@remax.net