NEVER Fall For These Real Estate Tactics When Selling

[@floridagulfcoastlivingwith219]

I'm an agent in the panhandle of Florida, and I completely agree with everything you said in this video. Cuddos for having accurate information for the consumers.

[@stephenlacher587]

Entire real estate industry has way too many fingers in the pie.

[@JaredMerlin]

Jen, thank you so much for these videos. I am currently working with a realtor to sell my mother's home but also help us move her into another home. I have never bought, owned, nor sold a home before. I am learning as i go and your videos re extremely important to me. I am beyond unsure about stuff because I know nothing about real estate. I make sure I remain in touch with our realtor and I even met with him yesterday for coffee to discuss what things I can do to help people want to look at the home. We had one open house. My mother is elderly and has dementia. We ended up staying in the house during that open house because my mother refused to leave her home with strangers going through it. It's a very difficult situation I am in trying to work with the realtor and trying to keep my mother from having a meltdown. Thank you again Jen.

[@savvyhomeseller]

Thank you for sharing this and I'm beyond happy that the content I share is helpful to you!! Appreciate you watching and being a part of my KZbin community 👍🏻

[@yourhomeadvocate]

I’m selling a home in vero beach Fl. I just had a “cash” offer today. Thankfully I asked for proof of funds right up front. Spoiler alert… it wasn’t cash . It was a conventional loan

[@savvyhomeseller]

Awesome - good catch!

[@M.Campbell]

@@JuliaHortonRealtor Nothing, if they don't make a "cash" offer and then switch to a loan.

[@ironwoodworkman4917]

Love videos like this. Not many real estate agents want to talk about this info.

[@savvyhomeseller]

I really appreciate your feedback - thank you!

[@positive647]

DUAL AGENT is a CONFLICT OF INTEREST. Very good points. Thank you for sharing. I for one appreciate your assistance.

[@savvyhomeseller]

Appreciate you watching!

[@savvyhomeseller]

@@Mr.Average1957 YES YES YES!!!

[@OzarkMountainKing]

I've bought and sold a few homes over the years. Honestly, I've never had a realtor work for me as an advocate. After the 3rd awful experience, FSBO and go talk to my lawyer.

[@MikeHawk_007]

2 out 3 of my selling agents cost me probably close to 100k in total. Completely worthless and overpaid. l don't blame you..

[@OzarkMountainKing]

@@MikeHawk_007 I wish there was an Amen! button, but Amen!

[@MikeHawk_007]

My last selling agent was 100% worthless and l learned alot. 45k in concessions on a 450k home in an extremely hot market, passed on the love letter, had his buddy fresh out of jail do a bunch of construction work weeks before closing, and admitted working too much for the buyers side. These are the reasons so many people don't trust real estate agents. Shady practices and overpaid commission costs. That makes 2 out of my 3 selling agents now that had conflicts of interests, didn't follow the fiduciary agreement, and could get sued. One of my agents out of 3 were good. There's a poor ratio of good to bad agents out there in my experience.

[@bettysmith4527]

I had three Real estate agents come to my house a few months ago, as I was thinking about selling. Two of them did there thing, came in, looked around and showed me the comps and said I could go on the market at 530-540K. The third agent came in, looked around, just as the other two did, and then sat down with me, she conveniently "forgot" to print any comps to show me and then proceeded to tell me my house could only go on the market at 420K.... I was like WTF lady, you think I was born yesterday?! I think she was legit trying to give my house away to a family member or another client she had that could only afford in that price range, or she wanted a quick easy sale, either way she won't be called or trusted ever again!!

[@MikeHawk_007]

@bettysmith4527 Unfortunately you pay a realtor a ton of commission money to often not look out for your best interests. The one thing l have learned, especially selling, is l need to look after my money. The realtor often will not.

[@estherstephens1858]

I had agent tell me her daughter would be interested in renting one of the apartments in a multi family house but was only able to afford x amount. The agent explained her daughter was a single mom. The offer for the rent was ridiculously low. I immediately told the agent NO. Shortly afterwards I found out her daughter was married and still with hubby. I don’t know what made me do it but one day (during the same time I was trying to rent house (separate apartments) I spoke to a contractor I had recently used. I asked him if he knew of anyone who was looking to rent. HE DID!!! I was able to rent both units on my own. All WITHOUT the help of the agent. When I told the agent I was going to rent the house(apartments) she happily offered to list it for me as rentals. I explained to her I had already rented them both. Needless to say, she was not happy. Her daughter didn’t get the apartment nor did the agent get a commission for sale/rental.

[@fidelcano-leon5524]

Jen, you are TRANSPARENT!

[@ravendixon1099]

You are 100% accurate. Also think long and hard before you accept any contingency whereas the buyer has an offer on their current property. If their deal falls through you've taken your house off the market & time is lost. If at all possible never allow contingencies only home inspections.

[@rtel123]

Love the escalation clause concept. Thanks for the caution about honesty. Puts me back in the position of being a believer in genuine auctions for multiple offers. That way, the seller and buyer know exactly what the market will support.

[@savvyhomeseller]

100% agree!

[@trevor8419]

We call the love letters a warm and fuzzy! Never done one, but I bet I could write a good one! It would be all fake though. 😅

[@kingsford3657]

The thing that always strikes me about the buyer love letter is that it can be complete fiction. They may say all these warm fuzzy nice things, but the true intent is to come in, gut it, and either rent or flip it. Sure, they can do whatever they want once they own it, but there’s no way to know how truthful they are in the letter.

[@savvyhomeseller]

It's not about how truthful the letter is - it's designed to appeal to the sellers emotion to give the buyer an edge in negotiating. If you're a home seller, I recommend not reading it - regardless whether its true or not 👍🏻 Great point though - thanks for watching!

[@yourhomeadvocate]

Iv been waiting for this video to drop all day

[@kathleengardner9023]

Thank you for this video! Great information!

[@savvyhomeseller]

Thanks for watching!

[@nadinegreen211]

You’re fantastic! Thank you for all this great information 😊

[@savvyhomeseller]

You are so welcome! Thanks for watching!

[@niagararails]

Years ago I remember an incident in or directly by Welland, Ontario where the selling agent had moved out and the actual closing date hadn’t gone by. It was about a month or so space in time before the buyer could take possession of a deal that had closed on paper and lawyer signatures and all. The bloody house burned down before the new buyer was officially the new owner on paper and bank connections with a mortgage.

[@niagararails]

I meant selling property owner not selling agent.

[@daidegoat]

Great advice. Thank you.

[@savvyhomeseller]

You are so welcome!

[@PoetiqueMs]

We actually got what I would call a sympathy letter from the sellers of our current home. They wanted more money, so they told us they were adopting a child. I was so surprised when our agent told us. I told my agent the truth. This purchase is a head purchase. It's not my "dream home", it's a business decision for us. I found this so confusing.

[@fmmaj9noname332]

The one thing Kansas does right.

[@JD-xo3xz]

Interesting. I would have thought that a dual agent would solely be responsible for ensuring everything on both sides is in order (the MLS actually publishes the property ). The inspector's job is to finds defects, the findings would be negotiated as to be fixed or a price adjustment, and the title attorney does all the documentation. What else is there? I could then set a fair commission/compensation amount to ONE person. Bottom line is the seller will always be incentivized to pay both ends if they want to sell.

[@artistjjebsen]

Is there any required documentation that confirms another buyer/offer? Without it, the fake bid tactic could be rampant.

[@savvyhomeseller]

Yes! Thank you for asking - I meant to mention that in the video.....if your escalation clause is triggered (make sure this is in your contract) , you are entitled to see the offer that triggered the escalation.

[@ForensicAnalytics]

Excellent video. Thanks!

[@savvyhomeseller]

Thank you for watching!!!

[@justsayin5177]

I would disagree with being against dual agency if the buyer is a seasoned investor or home buyer. Technically, this type of buyer just wants someone to handle papers, they dont need an agent. So why not give extra to seller agent.

[@ShadareaRapt]

wow dual agency, i just made a rule for myself if they even ask, it's insta fired.

[@blujeans9462]

My agent would not let me see love letters when I was selling my late father's home, when multiple offers came in within a few days of listing. I would have liked to see them, but in hindsight I'm glad we didn't. Some were from people who 'were in love' but we later found out they never stepped foot in the home (out of state buyers who had their realtors video the house).

[@savvyhomeseller]

Sounds like you had a great agent - YAY!

[@estherstephens1858]

I oftentimes wonder if the seller’s agent is being honest when he/she says “there are offers on the table”. Is it true or just a ploy to get the buyer to increase the offer? If it IS true who’s to say MY offer isn’t the highest. I’m not sure if it’s “fair” for a seller’s agent to say that but you can’t always trust the integrity of the agent. 😢

[@JuliaHortonRealtor]

In Florida, dual agency is allowed.

[@MaddieBr]

The only contract that should include love letters is a marriage contract. Too much chance of a fair housing lawsuit. I would never read one if I was selling.

[@savvyhomeseller]

I love this comment......you're absolutely right!

[@francescotenti193]

Don't let the 'sweet talk' of some unscrupulous realtors get to you, use your common sense and, more importantly, a trusty real estate attorney when buying or selling. It's completely insane to even suggest to a seller to allow a buyer to move stuff or the whole family in before the closure or allow a contractor to do any work.

[@IconandEveryman]

If the listing agent refers buyers that wanted to use him to another agent in his office, that would still be dual agency.

[@savvyhomeseller]

Not if the office is a Designated Agent office

[@IconandEveryman]

@@savvyhomeseller we have those for commercial transactions under specific circumstances but not residential. But we are a transaction broker state. It makes handling both sides of the transaction much easier.

[@savvyhomeseller]

@@IconandEveryman Ahhh....interesting!

[@mikeedwards9306]

Good information

[@savvyhomeseller]

Appreciate you tuning in👍🏻

[@bobscaduto3070]

On verified cash offer, how long should everything take? Paying cash that's it done

[@savvyhomeseller]

Depends on your state and any contingencies. Typically a cash offer (in Massachusetts) can close (with no contingencies) in 14 days.

[@mazhar1980]

I'd never heard it called a "buyer love letter" before now.....and yet I remember my mom/dad getting this when they sold our house and moved from the suburbs back into the city a couple years ago. I was by the house when they were selling and read this lovely letter they got with a picture of these two adorable boys LOL. It never really would have occurred to me the potential liability of something like this! And yes they got the house. But I don't think they had multiple offers so maybe they're ok legally?

[@wickiwo1098]

Buyer love letters might create claims of illegal discrimination from rejected buyers. My state is considering banning them to avoid this issue.

[@lynnvarner5383]

This happens to Mom too. Sappy ❤ letter that pulled on her emotions. Especially effective on an older person. I wish I would have known back then to avoid those at all costs.

[@debtaylor3214]

Love letters are not legal, because it could violate Fair Housing laws.

[@p38cobra]

Why is there a deposit on a cash offer?

[@savvyhomeseller]

There is always a 'good faith' deposit - regardless of the method of payment. It protects the seller if the buyer breaches the contract.

[@bryangrant9282]

Did you just say you are vetting offers before presenting to the homeowner? You're fired.

[@savvyhomeseller]

The offer is sent to the seller IMMEDIATELY, then I vet the offer before we discuss it (check the buyer financial credentials, check the contingencies, buyer time frames, etc.) . The seller NEEDS to know everything about the offer before making a decision.

[@seanm3226]

NEVER let the buyer back into property once they’ve contractual agreed to buy the property. NEVER. Only after the closing.

[@wickiwo1098]

For buyers, though, I recommend a day-before-closing walkthrough. It would've saved us some heartache if we had asked for that with our current house. The sellers removed a lot of stuff that was attached to and should've stayed with the house.

[@DougCeleste]

@@wickiwo1098 GREAT advice on the walk-through which is ALWAYS recommended. Regarding the items taken, I would contact the sellers agent on this to see if they will take any action with the sellers since NO items attached to the house are allowed to be taken UNLESS the sellers specify that in the listing agreement and the buyers are aware of this. Good luck on this but probably not worth contacting an attorney unless there were MAJOR items taken. Just my thoughts that I wanted to share.

[@mikem5113]

Why not?

[@DougCeleste]

@@wickiwo1098 Sellers are NOT allowed to take anything attached to the house UNLESS it is specified in the listing agreement. Yes, it would have been MUCH easier to do a walk-through BEFORE the closing for you to find all of this out and then you could have dealt with the issues of what they took before closing. Your agent contacting their agent about all this would be a good place to start and perhaps Jen can comment more on this. Sorry for your real estate "heartache" but I have had my share of them, also, in my lifetime.

[@DougCeleste]

@@wickiwo1098 Sellers are NOT allowed to take anything attached to a house UNLESS it is specified in the contract. Contact your realtor on this and have him or her contact the sellers realtor about all this and see what happens. Best wishes and Jen might have more advice for you.

[@teresayoung8898]

I have had. Every tealitor. Before I sign. A contract. Ome no Duel agents. Yet. When. The day c I mes. Always. F. Me. Address dual agent every time m e.

[@PianoUniverse]

I sell my own homes.

[@yourhomeadvocate]

I

[@teresayoung8898]

I love u. I have gone through CALIF EGO. TRALITORS RRALITORS

[@TomLombardi]

Great advice! Thanks.

[@savvyhomeseller]

Thanks for watching!