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March 18, 2022

A Real Estate “Rule” You May Want to Break

Photo by Pavel Danilyuk on Pexels.

Every industry comes with its unique set of rules and regulations, many of which determine how entrepreneurs can find success in the field. Real estate is no different, as its rules lead to a successful buying and selling process. These regulations have been supporting realtors in this industry for decades. But what if you were to break some of the more variable rules that haven’t been imposed as mandatory?

One such rule that realtors don’t apply to themselves but usually ask of their sellers is that they do not make contact with any potential buyers. In most cases, realtors are the mediators in this process, as they are the educated experts on the procedures and affairs. However, what this doesn’t leave room for is the occasional personal connection that will really sell a home. For many sellers, putting their home on the market can lead them to wonder who will be succeeding in their role as the inhabitant. Ultimately, their goal will be to sell the house, and while you do not want them interfering with the selling process, they can sometimes add more character to the property by briefly meeting the potential buyers.

In real estate, buyers are often going to be the more hypercritical party, and rightly so. Realtors understand their clients’ desire to find a place that meets their needs and to educate themselves on any aspect that would discourage them from purchasing it, like regularly flooded streets or proximity to loud roads. While it is not the industry norm to connect buyers and sellers, you might want to consider breaking this rule periodically, as buyers may feel a more personal tie to a home they are viewing if they meet the previous owners. In some cases, this can seal the deal for the potential buyer.

Another perk of breaking this rule that can lead to a sale is that the sellers can pass on tips and tricks to the buyer. This doesn’t even have to apply to potential downsides like keeping raccoons out of their yard, as that could potentially steer a buyer away from signing. However, if a seller truly wants their home to be snatched off the market, they’ll be wise enough not to alert the buyer of all the potential annoyances that come with owning the property. Instead, they can pass on positive tips and tricks, possibly regarding a hidden farmer’s market nearby or their favorite quiet spot in the house. While realtors can repeat this information to the potential buyer, there is significance in hearing it directly from the sellers themselves and being told why the property became special to them.

When studying the real estate field, you’ll come across many realtors who adhere to this unwritten rule and strongly advise their buyers and sellers not to converse with one another, as it could disrupt the deal. However, there have been many cases where this actually moves the deal along more quickly. While this shouldn’t be any realtor’s go-to method, it can certainly assist them from time to time, especially if they know the sellers to be friendly individuals.

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Tracy LeRoux, Realtor  |  Contribution: 245