1. He may not be trying to sell YOUR house during an open house.
Sounds terrible, I know. But open houses are also a great source of ready buyers for agents…and there are lots of agents out there that seem to forget the reason they’re there is to sell YOUR house, not switch-sell someone to another property!
Of course, if your home isn’t right for someone, there’s nothing wrong with following up with someone to see if you can help them…later. Your agent should never lose sight of the whole reason he’s there–to sell YOUR house.
2. You paid too much for your house when you bought it.
Well, it’s an awkward conversation–can you blame them? Many agents don’t want to seem like they’re bad-mouthing the agent you may have bought with. There are lots of factors that could have come into play–maybe your life circumstances changed and you planned on being in the house long term (and so maybe didn’t mind paying high). Or market conditions changed. It happens.
But you agent isn’t doing you any favours if he doesn’t point out that you may have paid too much in the first place–at least if you know, you can have realistic expectations for what that means for your sale today. Sometimes the truth is what you need, even if it’s a little painful.
3. Not everybody gets a bidding war or makes tons of money on their house.
By the time everything is factored in (buying costs like land transfer taxes, interest, maintenance and renovations, legal costs and selling costs) a lot of people don’t make much money on the sale of their house, or at least not as much as they’d have you believe. Bidding wars only happen in about 50% of sales, even in hot neighbourhoods. But guess what? That doesn’t make the news, nor is it the kind of thing people brag about at dinner parties.
4. You should probably consider a price reduction.
Sometimes the best thing to do for your sale is drop your price–if the market is sending a clear message (e.g. you aren’t getting showings, or you are but aren’t getting bites even after tons of exposure). But nobody likes delivering bad news.
Problem is, NOT delivering that news–and acting on it–can cost you time, money and aggravation. It’s a bit selfish if your agent is letting your sale languish on the market just because he afraid of telling you something you don’t to want to hear. Time to take one for the team!