Agents and sellers need to work as one

Mercury (Hobart) - Property - - Front Page -

THERE­are many agents and sellers who fully un­der­stand this ‘‘work to­gether’’ prin­ci­pal and em­brace its ob­vi­ous ben­e­fits. How­ever a re­cent email re­mind­ed­meof the many in­stances where this still does not hap­pen. So is this the fault of the agent or, dare I say, the seller?

The email was from a ven­dor who had lost a sale due to an ad­verse build­ing in­spec­tion re­port, com­mis­sioned by the pur­chaser at the time.

The re­port high­lighted ar­eas of sig­nif­i­cant damp, enough for the buyer to get ner­vous and walk away. This was not that un­usual – es­pe­cially as it was an older prop­erty.

The agent it ap­pears had done noth­ing other than relist the home for sale with noth­ing more than a dis­ap­pointed sigh af­ter he or she had made the phone call in­form­ing the sellers that the sale had fallen through.

If you know of any detri­men­tal struc­tural is­sues with your home, you need to dis­cuss them with your agent prior to list­ing. Get their ad­vice – they may have sug­ges­tions and a choice of spe­cial­ists they can rec­om­mend. Or if you know how to rem­edy the prob­lems then by all means go ahead and get it done first to avoid buy­ers us­ing it to ne­go­ti­ate re­duc­tions on the price or as an ex­cuse to change their minds.

But what­ever you do, don’t just hope no one no­tices.

Pre­sum­ing this damp was not a known is­sue, a good agent should have been on the case im­me­di­ately and the seller should have been on the phone too ask­ing the agent ‘‘what now?’’. But sadly in this in­stance – and many oth­ers – all par­ties here just seemed to ac­cept the sit­u­a­tion.

Don’t. Once a sale is agreed with con­di­tions at­tached, you and the agent should work to­gether to get through each stage in­clud­ing build­ing in­spec­tions! If an is­sue is noted, agents should fore­warn buy­ers and sellers – per­haps it will not worry the buyer if the is­sue is reme­died by the seller, or all in­volved can ne­go­ti­ate a re­duc­tion to cover the works.

Call in pro­fes­sion­als to quote, and en­sure that ne­go­ti­a­tions are tak­ing place with the agent, ven­dor and buyer.

The agent should not rest un­til the deal is over the line while the seller also can­not sit back and re­lax un­til the cheque is in their hand (or that of their bank man­ager).

It’s pos­si­ble that a sur­pris­ing case of damp could still have re­sulted in the buyer walk­ing away, but could that hap­pen again? Surely it is worth in­ves­ti­gat­ing the find­ings of the re­port so the next buyer does not fall out of love with your home.

So the moral of the story is that un­less your home is sold un­der auc­tion con­di­tions, you need to work on get­ting the sale not just agreed to, but done and dusted. And that re­quires team work be­tween sellers and agents to en­sure that your sale meets all the con­di­tions of the buyer and goes through with­out a hitch. Then you can crack open the bub­bly.

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