buyers. So, what should have happened here?
Before allowing any showings, during an initial walkthrough of the home, the agent should’ve called the owners immediately about the “giant devil,” giving them a chance to paint over it, resulting in a much quicker sale and far fewer awkward moments for the agent, not to mention a payday. Ultimately, the agent was fired and the owners returned to renting out the property.
BREAKING BAD
File this one under the “what you don’t know can hurt you” department. Ms. Turner had owned her Tennessee home for two years before deciding to sell. It was only then that she found out that a previous owner was a meth cook. What she didn’t know cost her—a $16,000 decontamination process fee! In this case, Ms. Turner’s agent could simply have done some research on the home and its history. He would’ve discovered that the home had been auctioned off by the state or been in foreclosure due to the meth cook likely going to jail. A little digging would’ve uncovered the reason and allowed the agent to warn any prospective buyers.
HURRY, ALREADY!
What do you do when you want to sell a house quickly? You price it low. What does your buyer want? A lower price. What does the buyer’s agent want? An even lower price. What about your agent? He/she should be aiming for a higher price, both for a higher commission and, more importantly, to make you happy. Mr. Foust, who was trying to sell his home quickly, had a different (and unfortunate) experience. Rather than try to negotiate a better deal, his agent chose to join the buyer’s agent in encouraging Mr. Foust to accept a lowball offer. Why?
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