Real Estate Bad Ideas! Negotiating A Deal Verbally!
Should You Allow Your Vancouver Realtor to Negotiate Verbally?
Negotiating a Real Estate deal verbally is against the rules in Metro Vancouver never mind fraught with pitfalls.
I know many Vancouver Realtors are going to tell me lots of Real Estate deals have gotten done through verbal negotiation.
The fact is, not being an acceptable practice according to the Real Estate Boards and Associations should be motivation enough to avoid this. But if this is not, numerous Realtor have shared examples such as the one included in this video.
There is no doubt that their is two sides to a negotiation and everybody wants to get the best deal, but do yourself a favor and keep the right ingredients in the negotiations (good faith, co operation, respect) and wrong ones out (spite, distrust, anger).
A home buyer's Realtor calls up the Realtor with the Vancouver home for sale and suggests a price to be 'ran by' the sellers. The listing Realtor agrees to do so and comes back to the Buyer's Realtor advising to proceed with the offer.
The Buyer's Realtor writes up the offer and sends it over to the Seller's Realtor.
Guess what? It is WAY LOWER than the price they discussed verbally.
What a terrible way to start a negotiation!
It lays down a foundation of lack of trust and potentially compromises the relationship between the Seller and their Realtor, who as a buyer a reliant on.
It has made the Seller's agent look extremely bad in their client's eyes, never mind how it has made the Buyer's agent look in the Seller's eyes.
Put it all on paper. Technology makes its very easy to do, no excuses.