by Kurt Wannebo
on Monday, October 15th, 2018 at 4:54pm.
Today I’m going to cover one of real estate agent’s dirtiest secrets that they don't want you to know about and they don't want their clients to know about. Let’s be clear here, a lot of other real estate agents are going to be extremely and really mad at me for putting this out there and on video. But i don't care because you see I dedicated my career as a consumer advocate and doing what's in my client’s best interest.
First, I have to start by educating you on something about what agents do to market your property. Yes, they market it all over the internet into the world and they create videos and they create brochures and you might think that's all great and that's all they do but there's actually another part of marketing at home to sell that agents do and that is the marketing they do to other real estate agents. There's a lot of different ways that they do this. They send out email blast, they do it through networking, they do it through broker caravans or in office meetings or communications and they also do this through the mls. Now, the mls has actually a little section in it called Confidential Remarks and this is where agents can put some notations in there which only other real estate agents can see. It doesn't go out to all of the different marketing websites and consumer doesn’t see this. Now some agents use this little confidential remark area to inform other agents about maybe a dog in the house. “Hey Sparky’s in the house, when you show it. He’s friendly, don’t worry about him” or “Hey, there’s a cat in there, don’t let the cat out”. Other real estate agents use this Confidential Remarks to convey the seller's motivation and why they are selling. Now, what do I mean by that? Or what is it that they say? Well, it isn't very uncommon for me to see that agents would put in there that the seller is very motivated, let's think about this for just a moment, seller is very motivated, if the seller puts their property on the market obviously they’re wanting to sell so there's some level of motivation there but the fact that they're putting that back in there in big bold letters actually mean something. Other comments they might put in there is that seller is very motivated and bring us any and every offer or any all offers. I even saw one recently in the MLS that actually said “seller is very motivated and will accept all offers”. Now, let me clarify what the term “Accept” means, that means, if somebody were to submit any offer that the seller would accept it, and in our contract terms, that mean they would accept it and move on to escrow. Now how do they do this? They will send this out through marketing. Here’s an example right here. This is an email blast that I got from a very prominent, well known real estate agent, marketing a property or listing that he has and in that email it says “Motivated sellers, bring all offers. I went to show the property the other day, I was previewing it for a client. As soon as my preview finished, the agent texted me “Seller is super motivated, just send us anything.” So text, emails and the MLS they convey all of this stuff here. Now let's think about this one more time, here you are, you probably hired your Real Estate agent, who told you that they're going to get you the highest and best price, and now they’re running around telling all the other agents how motivated you are to bring any and all offers and you might not even know about it. Now, I don't do this, I would never do this. Why? I don't do it because, first i feel it cost my clients money. I also feel that you're giving away negotiating leverage to be able to command the highest price and lastly, without my client’s approval, I just feel it's unethical and shady. Now, may I ask how often do agents really do this? Well, the answer is, more than you would actually think. It is happening more and more, especially since the market has started to shift and agents aren’t prepared for this.
Now, why would they do this you’d ask? Well, you’d have to understand that most real estate agents here in San Diego, they’re only selling 3 homes a year and they just don’t have the negotiating or the marketing skills to attract buyers, especially on a slower market, and deal with them so they have to revert to this secret marketing through agents. Another time agents actually like to do this quite often, is if they have a contract with somebody to list their home it’s usually for a specified period of time and if that contract’s expiring, usually at that point when it's getting close, the agent will start letting other agents know “Hey just submit any offer or send me anything” so that they can rile up their client and maybe provide something to them or an offer that they haven’t provide through that entire time and maybe keep the relationship alive and again as we said before, this market is shifting, be very clear about that even if you're not seeing it in the news. It's taking longer to sell homes. Buyers have more choices and so some agents instead of being able to ramp up their marketing, just to entice buyers, agents start using these tactics. Again, do I do this? No. I wouldn't do this without my client’s permission. And you know what? I've never had a client tell me. “Kurt, you know what? Can you please tell every buyer that I would accept any offer and I’m super motivated?” No, they actually want the opposite. It’s just against my ethics and morals to do this behind my client’s back. Now, again, let’s be very clear here, there are going to be a lot of real estate agents that are going to be really upset that I posted this video, but again, you know what? I don't owe them anything. My loyalty and duty is to my clients and i feel the consumers. I don’t want to be like those other agents and i believe it’s this thinking that has got me to the point of my career where I helped over 1,200 families and I’ve gotten over 500 5 star reviews all over the internet. So this is something that you want to take into consideration if you're considering putting your home on the market, this is something you might want to ask your agent. What do you put in there? Do you put fliers out there telling the buyer’s entire agent that “We’re super motivated”. Can you show me and prove that you don't do that? And hopefully this will just give you something to think about if you’re considering putting your home on the market because again, I feel these tactics can actually cost you 10, 20, 30 thousand dollars when it comes to the sale of your home.
Thank you for watching. I’m Kurt Wannebo. Have a great day!