Be Calm. Your buyers have a list of needed repairs from the home inspector and perhaps one or two items are causing them some concern. Buyers who do not have a buyers agency agreement with their Realtor may feel a little unsupported and in need of advice on how to negotiate with the seller for some credit on the purchase price to pay for repairs.
Mananging Expectations. I would suggest that you never say a house is in excellent or “perfect” condition. All houses need some attention somewhere. Is the house competitively priced and has there been any recent price reductions that were made because the house needs some work? Preparing the buyer that the house is “as is” and may need a few minor repairs manages expectations down the road. Of course, any major surprises will need to be talked about and it is common for buyers to offer a price reduction to smooth things out. As the Realtor, you need your best people skillls to navigate buyer and seller and the other Realtors involved through the price adjustment if any. Know ahead of time what you will do if the seller resists making repairs or giving any credit. Ask for a copy of the buyer’s home inspection report so you have a clear understanding of the issues. The home inspector may require the buyer’s permission to give you a copy.
Know Your Buyer and Seller. You cannot always do this if you are not the listing agent. But knowing as much as possible about everyone involved can help the process go well. Did the seller already make repairs to get the house “in shape” to sell? More on negotiating repairs in the next blog…..