Sunday, May 31, 2009

Pressure to list with the wrong agent/company.

One of our agents was working with a couple to purchase a condo in downtown Milwaukee. Upon getting an accepted offer on a condo, they were going to list with the same agent to sell their home in Caledonia at 6107 State Rd 31. That is when family intervened. You see, the sister in law of one of the sellers was a Realtor. They had considered working with her but she had a full time job outside of real estate and was only selling 1 or 2 properties a year. Clearly there was no benefit to the sellers AND they were going to pay much more in commission. Nevertheless, the family pressure was too much to overcome so the sellers listed with the inexperienced agent plus they had to pay more in commission (even with her discount). When an offer came in on their home, our agent had to be consulted as issues came up.

This case is not unusual and illustrates how family or friends can "force" a seller to pay more and get less. People waste thousands if not tens of thousands of dollars on added commission because they cannot break away from a family or friendship situation. Admittedly we have plenty of sellers that sold with Homeowners Concept in the past 25 years despite having family or a friend in the business. You do have to admire the person who can stand up and take control that is best for their financial and well being.

No comments:

Post a Comment

Blog Archive