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How to work with a buyer’s agent when you’re listing on a flat fee MLS service

When speaking with buyer’s agents as a flat fee listed seller, be respectful of them but at the same time do not take any crap from them either. If they are disrespectful throw them out of your home! If they attempt to bully or pressure you into a deal that is not at your terms smile and act like they are a child trying to get you to take them to a movie. Pressure is something to pass onto someone else but not absorb.

I can tell you what drives a buyer’s agent crazy is calling them for feedback or following them around the home when they are showing it to their buyers. That hate both. They want no one around when showing the home. Agents and buyers know what they are looking at. They want to speak freely to one another about the home comparing it to others. They do not want you to hear what they are saying.

As far as feedback goes there is nothing you can say to get an offer. A professional negotiator will never call a buyer’s agent and ask if they are presenting an offer UNLESS there is another offer on the table and then we do want that buyer’s agent to know that. That is correct, professional and helps the seller.

Our company does get feedback for our sellers at Altru Realty. But, self rep sellers (flat fee) should stay coy and act like they could care less about an offer coming. That is the professional way! Asking for feedback or asking whether an offer is coming is somewhat weak and in my opinion a counter by the seller. In other works you are desperate!

I have an expression, pass the pressure not the power. As a professional negotiator, I have many techniques but overall never allow anyone to pressure you because as a seller you have all the power. The listing agent has the next power level, then the buyer and lastly the buyer’s agent.

An example of this pressure is the drop-dead-date in an offer. All offers have a date on page one of the contract that states “if you don’t counter or accept this offer by 5:00 pm on x/x/x (date) this offer will be withdrawn. Well, 99% of all offers are DOA meaning too low so who cares if a low offer expires?  I never do and this is a prime example of how a buyer’s agent will attempt to control you into a fast counter or they will threaten to withdraw their offer. Buyers never walk from a deal, they circle. This is a fake date and fake pressure. But, buyer’s agents and listing agents use the drop dead date as an effective tool to get a seller to counter. Countering is passing the power to a buyer’s agent. Maybe not a great idea. Read my book about this coming out late 2018 The Real Estate Sandbox.”

To learn more about flat fee MLS through GetMoreOffers.com or Altru Realty where we negotiate for you for just 1.5% at close, please visit our websites or call us 877 -232-9695.




Home Buyers Feedback Can Be a Double-Edged Sword

Self-represented sellers on GetMoreOffers should always carefully weigh what they say to buyers’ agents. This includes whenever the seller is soliciting feedback which may or may not prove helpful.

You can’t always trust that negative feedback reflects the real reasons buyers don’t make offers.  Let’s say the home has been shown fifteen times with absolutely no offers, and you have received seven different feedback comments, such as they didn’t like the floor or the location. That fact that there have been zero offers indicates that it’s not issues with the home itself but with the price.

In other words, the home is likely over-priced because all fifteen buyers walked away while only seven of them had negative feedback on various issues.  Interestingly, sellers most often say, “It’s not my price because no one has mentioned price and everyone  liked my home.”  Had the price, however, been $10,000 lower, some or all of those buyer objections would disappear and possibly an offer would have been presented.

Some sellers long to hear positive feedback, but that’s rarely forthcoming from a skilled buyer’s agent. The savviest buyer’s agent will be less than forthright about offering overly positive feedback because they are working to get the buyer the lowest price and won’t want to give away any negotiating advantage.

Still, many sellers and listing agents alike view feedback as honest and helpful, but remember that the buyers’ agents are always negotiating against sellers.  For example, a buyer’s agent may mislead you by giving negative feedback that the home is a more house than the buyer needs or maybe that it’s in the buyer’s top three choices, but in reality, the buyer thinks the home is the perfect layout, and it’s the buyer’s first choice of homes.

From a professional negotiator’s point of view, it’s not feedback a seller wants, it’s an offer. That being said, a seller should not ask if an offer is forthcoming unless there is another offer in play.  Why? If you have another offer in play it’s appropriate to inform the buyer’s agent. Knowing there’s another offer may motivate the buyer to make his own offer or risk losing the home. But asking if an offer is coming without having another offer in play may be viewed as either too aggressive or too anxious which may then be interpreted by the buyer’s agent as meaning “Wow, this seller is motivated. We have the negotiating edge.”

So sellers beware. Before you speak to a buyer’s agent, remember that every time buyers’ agents hear something they can use against a seller, they will.