We’ve all heard the phrase; ‘Loose lips sink ships’. Nothing could be truer than in our world of real estate. Telling too much can hurt you, but, sometimes it can work to your benefit. You just have to know when the timing is right and when it most definitely is wrong.
EVERYONE and I mean EVERYONE talks about real estate. I have often grabbed a coffee at a Timmies in between appointments and sat alone just to decompress and gather myself for my next appointment and all around me, I hear discussions related to real estate. Parents talking about their kids moving out and the difficulty they are faced with financing preapprovals. Renovations is a biggie…do we stay or do we go as some kids are still in the nest. You name it, we hear it.
Your realtor will always warn you to please keep your mouth closed when your home is on the market. I love sitting open houses and having the neighbours come in. Oh how funny it is to hear the whispers and the ‘pretend’ buyers as they wander through. Come on, let’s face it, people love talking about real estate, but, the versions we hear of situations are down right comical. Talking too much can hurt a seller so it is best to not be in your home when buyers come.
What things will get your into trouble?
- The neighbour’s barking dog.
- The leak you had 15 years ago that has since been repaired.
- What price you want.
Talking too much as a buyer pretty much does the same.
- The fact that you have sold your house and have to move.
- How much work you feel the house needs….and then staying an hour in the home.
- Sending all your relatives in to talk to the rep hosting an open house.
- Loudly announcing to other buyers what is wrong with the house.
What can help? There is a time and place to talk and often that is after the sale has occurred. We often will ask if a seller can remain in the home for one of the re-visits as that can prove invaluable to the buyer. They get to learn so much more about the home.
For the buyer, we love the introductory letter that can accompany your offer. In this electronic age, actual face to face offer presentations are not the norm. Electronic signing has often eliminated the emotion and turned the buying and selling process into a black and white scenario. Who will offer the most money, have the fewest conditions and close on the date that you wish. It becomes a very rudimentary process rather than an emotional one.
Realize that everything you say can and will be used against you……..