Selling Your Home And Interviewing Agents? Don't Let The Cat Out Of The Bag.

By
Real Estate Agent with RE/MAX Realty Services Inc.

Selling Your Home And Interviewing Agents? Don't Let The Cat Out Of The Bag.

lady holding a catIf you're thinking of selling and have decided to interview a few real estate agents, even if you are not from the Brampton, Ontario, Canada area, be careful of giving away too much information.

If you're moving because you are wanting a larger or smaller place, somewhere closer to the children's school its probably not a huge issue but if it is because of a marriage breakup, financial reasons or you have bought firm somewhere and need to get sold, you may want to consider what you tell all the agents you are interviewing.

Normally you can only work with one agent and you should be honest and up front with that agent so they can represent you properly. Those other agents you interviewed and didn't choose to work with however, now will have information, if you have spoken openly, to pass on to buyers they may represent if they bring an offer on your property.

If when you are interviewing agents you tell them "we have to be out of this place in 30 days or less", or "I'm willing to go as low as xxx dollars to get out of here" or "we have until such and such a date before the bank takes over", the agents other than your listing agent has a duty to pass on that information to the buyers if they now have a signed buyer's agent contract with those buyers.

Interview real estate agents if you choose, be nice, be friendly, just don't be completely open about everything until you have decided which agent is right for you and your situation.

If you are interviewing agents in the Brampton, Ontario, Canada, give us a call 905-450-5500 or email getsold@rogers.com and find out why we have been voted 'The Best People in Real Estate' for the 16th time in 2011 by the residents of Brampton.

Selling Your Home And Interviewing Agents? Don't Let The Cat Out Of The Bag.

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Rainer
144,182
Kevin O'Rourke - Keller Williams Miami Beach Realtor
Keller Williams Miami Beach Realty - Miami Beach, FL
CDPE Miami Short Sale Agent 305-520-9436

Great advice.  I bet that is not something most people think about.  And not only would the other agents they interview have the information, but chances are those agents would share it with some of their office buddies also if they knew they had buyers interested.

May 01, 2012 10:35 PM #10
Rainer
240,565
Barbara Tattersall
Keller Williams Realty Metropolitan (Keene,NH) - Keene, NH
GRI

I always find it interesting how strangers will pour out their personal information to you.  They see us as professionals who are there to wave a magic wand to solve their problems.  And they can safely tell us anything because after the sale they move on, never having to face us across the dinner tsble like a relative.

May 02, 2012 03:06 AM #11
Rainmaker
574,713
Janis Borgueta
Key Properties of the Hudson Valley ~ 845-527-7115 - Newburgh, NY
LIC R.E Salesperson - Homes for Sale Newburgh NY

I too have gone for that interview, and home owners give up way too much information almost before i get in the door. Then they don't like the recommended asking price of the home, so they go with another agent. Guess what... I bring along a buyer and now my buyers have an edge on the info about the home that they should not.... oops

May 02, 2012 04:01 AM #12
Rainmaker
776,364
Mike Cooper
Winchester Real Estate Sales, Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Pro

A & P, I'm always amazed at how much people will tell a complete stranger.  Ironically, a lot of agents do the same thing.  Gotta keep it in balance.   Good job.

May 02, 2012 04:20 AM #13
Rainmaker
1,226,775
Al & Peggy Cunningham Brokers, Brampton Ontario Homes For Sale 905-450-5500
RE/MAX Realty Services Inc. - Brampton, ON

Some people are very open and honest regarding their situation George and some people are going to use it against them.

Thanks Jane but its true. Information works both ways.

Good point Kevin and that probably happens.

Barb that is so true and you are probably right.

Exactly Janis and then they probably realize their mistake but its too late then.

Yes Mike as in 'too much information'! 

May 02, 2012 04:59 AM #14
Ambassador
1,639,570
Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

They don't have a choice.. 

They need to present their whole situation so it will warrant the best presentation from the presenter to be fair. .and to find he right person for the job.

May 02, 2012 05:08 AM #15
Rainmaker
1,153,840
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566
The comments here are really interesting. You can argue it either way successfully.
May 02, 2012 05:18 AM #16
Rainmaker
1,153,840
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566
I was wondering how I could change the cat out of the bag title for my own ad theme. Pup out of the palace? Chuckle.
May 02, 2012 05:19 AM #17
Rainmaker
1,226,775
Al & Peggy Cunningham Brokers, Brampton Ontario Homes For Sale 905-450-5500
RE/MAX Realty Services Inc. - Brampton, ON

You raise a valid point Fernando.

Cheryl how about 'who let the dogs out'!

May 02, 2012 05:54 AM #18
Rainmaker
891,696
Michael Setunsky
Michael's Commercial LLC - Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Al and Peggy, I agree with this totally. A seller doesn't need to tell the agents they are interviewing everything. After all, they are choosing an agent. Once they pick an agent, they can tell the whole story. Good point!

May 02, 2012 06:12 AM #19
Rainmaker
1,226,775
Al & Peggy Cunningham Brokers, Brampton Ontario Homes For Sale 905-450-5500
RE/MAX Realty Services Inc. - Brampton, ON

We just believe some information should only be discussed once the agent has been hired. We understand if its a short sale the Owners may be looking for a short sale specialist and that is wise, but we are sure there are ways for an Owner to find those agents.

May 02, 2012 06:26 AM #20
Rainmaker
220,174
Pamela Smith
Long Realty West Valley - Sun City West, AZ
Sun City West, Corte Bella, Sun City Grand

I had a couple come into my open house this weekend.  They are our competition for a listing we have.  They came in and basically told me where their bottom line was.  I am sure their Agent would be very unhappy with me knowing this info.

May 02, 2012 06:26 AM #21
Rainmaker
591,151
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

 I discuss agency during my listing presentation so they know what to expect after they have hired me but this is excellent advice for sellers who are just starting to interview.  What they say can (and might) be used against them!

May 02, 2012 06:42 AM #22
Rainer
25,371
Tia Stanley
RE/MAX PENINSULA at New Town - Williamsburg, VA
...focused on people & the places they love!

As they say..."Loose lips sinks ships". We live in such an information overload society with people willing to tell it all, without realizing the potential ramifications. Great post. 

May 02, 2012 06:54 AM #23
Ambassador
1,438,260
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Al & Peggy- What great advice and I'd bet many sellers would not think about this.  Why give away ammo when you don't have to. 

 

May 02, 2012 08:04 AM #24
Rainmaker
533,162
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

It's definitely good advice to keep your cards close to your chest so to speak until you are fully committed to a certain broker.  On the other hand, it's a broker's job when interviewing with a seller to ask enough questions to figure out why they want to sell and what's important to them about the process. 

May 02, 2012 09:36 AM #25
Rainmaker
1,252,313
Carla Muss-Jacobs, Principal Broker/Owner
BuyersAgentPortland.com | (503) 810-7192 Portland Metro Exclusive Buyers Agent | 100% Buyer Representation ~ 100% o... - Portland, OR
Buyer Focused ~ Buyer Results

Excellent advice.  The listing appointment doesn't bind the agent to fiduciary duties of loyalty, etc.  Anything the sellers may say may be letting the cat out of the bag.

May 02, 2012 09:59 AM #26
Rainer
126,954
Herman Herrera
HERMAN & CO REAL ESTATE l Staten Island, New York - Staten Island, NY
Your trusted Staten Island Real Estate Expert

Some valid points here guys.  Though Fernando makes a good point about presenting the whole situation in order to make a fair presentation, I have to agree with you that certain information shouldn't be divulged until you choose your listing agent.  Good post!

May 02, 2012 02:01 PM #27
Rainmaker
1,226,775
Al & Peggy Cunningham Brokers, Brampton Ontario Homes For Sale 905-450-5500
RE/MAX Realty Services Inc. - Brampton, ON

Whoa! Pamela, hope buyers at the open house had their ears closed. Yes, if we were their agent we would be totally unhappy.

And probably will be Margaret!

Thanks Tia. Unfortunately yes, people expose it all.

Exactly Kathy. Keep your cards close.

It's definitely a fine line Morgan, but certain issues should only be between the Sellers and the listing agent.

Our thoughts too Carla.

Thanks Herman. Sellers have to be careful during interviews. 

May 02, 2012 05:03 PM #28
Rainmaker
352,237
Donna Yates Real Estate - serving
ReMax Town and Country - Blue Ridge, GA
North Georgia Metro & Mountains

Al & Peggy:  Same goes for buyers if they haven't signed a buyer's agency agreement. Good tips for both sides.

May 03, 2012 06:10 AM #29
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Al & Peggy Cunningham Brokers, Brampton Ontario Homes For Sale 905-450-5500

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