DId you receive a letter like this one?
If you live in a popular Nashville neighborhood, you likely received a letter or a post card that went something like this.
The letter is from a local real estate company who claims to have a “terrific buyer” that they consider a “friend” who is interested in buying a home in your neighborhood. They might even mention the possibility of a “reduced commission” if you can work something out with the company and their buyer.
If you’ve received one of this letters, I hope it raised a red flag.
This could be a legitimate letter from a local real estate professional who truly has a buyer wanting to move to your neighborhood. As the number of available homes continued to drop, buyer’s agents have been using this strategy with some success.
Or this could be from an agent who is “fishing” for listings. This agent might not have a specific buyer in mind and knows that they can sell your home quickly due to the lack of homes for sale.
Or this could be from an investor who wants to buy your home on the cheap and flip it.
Sometimes it is easy to tell the difference.
The true professional likely included a separate letter from the family who is looking in your neighborhood and probably doesn’t mention anything about the commission.
Teasing you with the “possibility” of a reduced commission would be enough for me to dismiss it immediately.
Working with the buyer’s agent as suggested will likely leave you without representation.
That means you have no one to tell you the sales price is too low or the terms of the contract are not fair. You have no one to negotiate on your behalf. Or warn you of the hundreds of ways the deal can easily go sideways and cost you thousands of dollars.
You are left to fend for yourself and that’s not an envious position to be in when you are facing an expert in real estate and a good negotiator.
If you have received one of the letters lately and have questions, then let me know.
This Deal of the Day in Nashville is no longer available. To see the latest Daily Deals, click the link below:
Post a Comment