What Not to Tell Your Realtor When Selling a House
Thinking about selling your home? If you’re feeling the pressure of missed mortgage payments or financial stress, it’s natural to want to share every detail with your realtor. But when it comes to selling out of necessity, there are certain things best kept private until the right time. In my latest video, I dive into what not to tell your realtor to avoid sabotaging your sale.
Why Hold Back Some Details?
When selling your home under financial strain, sharing too much too soon can impact the outcome. For example, letting your realtor know you’re desperate to sell might create a ripple effect, unintentionally signaling urgency to potential buyers. This could result in lower offers than your property deserves. The key is to be strategic about what you share and when.
Here are a few things to consider keeping to yourself initially:
- Don’t Reveal Your Bottom Line Right Away: While you’ll eventually need to discuss numbers, it’s best to hold off on revealing the lowest price you’re willing to accept. This ensures your realtor focuses on maximizing the sale price without limiting their negotiation power.
- Avoid Disclosing Missed Mortgage Payments Too Soon: Although honesty is essential, mentioning missed payments too early may shift the focus from achieving the best sale price to a quicker sale. Your agent should prioritize getting top dollar, and knowing every detail about your financial situation upfront can sometimes redirect that focus.
- Be Cautious About Promising Repairs: If you’re tight on cash, be careful about mentioning repairs you plan to make. Any promised repairs must be completed, which can become a burden. If necessary, offer a credit instead, or adjust the listing price accordingly.
- Timing is Everything: Eventually, you’ll need to share your full financial picture with your realtor, especially if there’s debt to cover. However, wait until there’s genuine interest or solid offers on the table. This way, you and your realtor can navigate offers more strategically.
Selling out of financial need requires a unique approach. The right timing, selective transparency, and strategic negotiation can help you secure the best possible outcome. For a full breakdown of what to hold back and when to disclose, watch the full video here: What Not to Tell Your Realtor When Selling a House.
Curious about whether a short sale or foreclosure is the better option if things get tight? Don’t miss my next video: Foreclosure vs. Short Sale, where I cover the pros and cons of each choice.
I’m Esphir Popilevsky, your guide through the home-selling process, making sure you’re equipped with the right knowledge every step of the way.
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