Technically speaking, once you have signed an agreement with a real estate agent listing your property for sale, your agent has a duty to represent you with your best interests in all negotiations and interaction with other parties.
Numerous studies show houses sold with professional help sell for more than those sold by the owners alone.
That being said, there are times when you should keep information to yourself. Read on to find out when you should keep your mouth shut when dealing with your real estate selling your house.
1. Don’t tell your agent you won’t settle for a lower price.
This will only have a negative impact on the psychology of the real estate agent working for you. Even if you do have a true bottom line, you don’t need to reveal it. Let your agent know you are flexible and let your agent know you are listening to their advice.
2. Don’t tell your agent you don’t want to know about offers lower than a particular price.
No matter the offer, you should know about it. You need to have an educated understanding of what the real market is prepared to pay.
3. Don’t tell your agent you have all the time in the world.
99% of the time, the longer a home stays on the property market the lower the final sale price will be. This is just a fact of real estate and sales. Make an agreement with your agent for a specified period of time.
4. Don’t say you are selling because of a divorce.
While this might be the case, there is no reason to tell anyone you are selling your property, even your real estate agent, you are selling your home as a result of a divorce. If word gets around, your final sale price will certainly fall.
5. You are selling because of financial problems.
Just like a divorce, if word gets around you are in financial difficulty, the only result will be a fall in the final sale price of your home. Always keep this kind of private information completely private.
6. A death has occurred on your property.
This is another one of those pieces of information you do not need to tell anyone, even your real estate agent. If potential buyers hear about this, your property’s real market value will fall. Always remember how bad news travels fast.
7. Anything before you have signed an agreement.
Unless you have an agreement with a real estate agent, there is no reason to share any information about your home, yourself, your financial situation, and your future plans. If you don’t sign an agreement with that agent and they do happen to tell others in the industry, you compromise the ability of another agent to represent you well.
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