Why bluff when the other side gets to see your hand?
We’ve all had interactions where there are big issues not being talked about. Sometimes only one party sees it—or knows about it. Other times, both sides do, but no one wants to bring it up.
And if you’re honest with yourself, you know that putting off the conversation or trying to avoid it is a losing proposition. When the other side finds out (and they will), there will probably be hurt feelings. But more importantly, there’s a loss of trust. And in real estate, no trust usually means no deal—no matter how good your attorney is.
If there’s an issue with your property—like potential flooding, a deed restriction that kills the buyer’s plan, or an environmental problem—it’s not going to help to keep quiet. It’ll come out during their due diligence. Best case, they believe you didn’t know. But let’s be real—that’s not how most people react. They’ll probably drop the deal, and you’re out all that time, when you could’ve just been upfront and saved everyone the trouble. And probably slept better at night, too.
It’s not just across the table—seller and broker need to be on the same page, too.
Take pricing. Sellers are often a little (let’s say) optimistic. And there’s no shortage of agents who’ll go along with any number just to get the listing, knowing full well they’ll push you to drop it later. But how does that make you feel when it happens? Lied to. And once that trust is cracked, the relationship suffers. Less trust = less chance of success.
Now, I’m not above putting something out there a little high at first, just in case. Especially with land—sometimes the right buyer shows up and pays more than anyone expected. But I’m going to tell you up front that it’s likely too high, and we may need to adjust after a few weeks.
And if you’ve read these for any length of time, you’ve heard me say it: I’m not a discount broker. You may be tired of hearing it. But because I’m upfront about that, we don’t have awkward conversations about commissions later.
Above all, you should hire the broker you trust most. If you go with a discount and then spend the whole time wondering how that person is screwing you over, are you really ahead?
Best way to build trust? Don’t hide anything. Let the elephants out. Whenever you’re ready, I’m here.
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