I recently closed a transaction where I was the listing agent. Initially the buyers had approached me to help them purchase the home, but I requested they go find an agent to represent their best interests, as I represented the seller. In the course of the conversation, the buyers told me they didn’t need representation, as they were outstanding negotiators and educated in the matters of contracts, etc.
They continued to share with me personal information about their situation, even after I suggested they share this information with their own broker.
A few days later they found someone to write the offer. I presented it to my seller and he refused to accept an offer less than full price.
Why? Because the purchasers had spoke to a "mutual friend" and shared the fact that they were willing to pay even more than full price for this home. DUH!
So these "experienced negotiators" weakened their position by chatting about their circumstances and intentions to who ever would listen.
The "mutual friend" it turned out had a higher purpose, they were also a homeowner in the neighborhood and for the cause of "neighborhood values" turned on them and shared this info with my homeowner.
Innocent conversation sometimes reaches the wrong ears.
About the Author
Kristal Kraft
Kristal has been helping buyers and sellers in Colorado since 1984. She enjoys sharing her knowledge of the Metro Denver Real Estate market via blogging and in person while driving around the beautiful Rocky Mountain town of Denver! For fun, Kristal enjoys shooting things with a Canon. Visit Denver Photo Blog
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