Agents and sellers need to work as one
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.