5 ways to prosper from real estate truths

Don't let short-term payoff cloud decision-making

Have you ever found yourself in a painful situation where it would have been convenient not to mention an issue that could be a problem to your clients? While you may never intend to intentionally deceive a client, failure to mention issues that may be relevant can be just as serious as an outright lie.

How many times in your real estate career have you glossed over a buyer’s inquiry about something negative with one of your listings? For example, did you forget to mention the noisy neighbors next door or perhaps the 100 pounds of honey the sellers removed from the beehive in the attic two years ago?

Sometimes not saying anything can be as dangerous to your real estate sales career as lying.

To illustrate this point, an agent took a listing on a hillside property. When the buyers had their geologist inspect the property, the geologist warned that if there were a major earthquake, the property could collapse. The buyers backed out of the deal.

The second set of buyers elected not to conduct a geological inspection. The sellers and their agent did not provide the buyers with copies of the original geological report, according to a lawsuit filed by family members. Several months after the transaction closed, one of the new owners died when the property collapsed during a major earthquake.