Are You Being Represented by a “Yes-Agent”?
We all know the type. The person who just says “yes” to anything, never challenging or questioning an opinion or strategy. These people-pleasers agree with anything suggested; while they may be nice friends, in real estate a yes-man or yes-woman can actually cost you money. Often a lot of money.
No one likes to leave money on the table, but having an agent who doesn’t challenge unrealistic expectations is not serving the client. So, how can you spot these yes-agents?
These yes-agents can take many forms. On the seller side, they could be the agent that lists a home at an unrealistic price. Well-priced homes are selling quickly, but that does not mean that a seller can add 10% or more to recent sales and expect to sell the home. Over-pricing a home can cost precious time as potential buyers forgo viewing the property in favor of well-priced options.
As the home lingers on the market, the seller must eventually lower their price to market value. Buyers often assume the seller is desperate to sell and offer lower prices than they might have at the beginning of the listing.
Buyers represented by a yes-agent could find themselves writing unrealistic offers as well. There is danger in writing a low-ball offer just to “see if it sticks.” The yes-agent might be willing to send over the offer, but the seller is just as likely to assume the buyer isn’t serious and move to more realistic offers. The yes-agent just cost the buyer the home.
Spotting a yes-agent, and avoiding them, can save real estate clients time and money, and ensure they achieve their real estate goals.