Greenville: No room in exclusive agreements for personal discounts

Greenville: No room in exclusive agreements for personal discounts

When it comes to selling a home in Greenville, it’s important for sellers to understand the implications of signing an exclusive right-to-sell agreement with a listing agent. According to real estate expert Joan Herlong, CEO of Joan Herlong & Associates Sotheby’s International Realty, “Exclusive means exclusive.” In other words, there’s no room for personal discounts for friends and family.

Herlong emphasizes the common scenario where sellers mention potentially interested parties, such as friends or family members, after a Realtor has recommended a data-supported list price. This situation, she says, happens more frequently than one might think.

The Importance of Fair Pricing

After spending considerable time in the seller’s home, conducting a market analysis, and agreeing on a list price based on the analysis, sellers may suddenly remember individuals like a neighbor’s friend or a distant cousin who could be interested in purchasing the home. However, Herlong warns that a home is worth what it’s worth, especially in a competitive market like Greenville.

One of the key issues with offering personal discounts is that friends or family members may expect a bargain rather than a fair deal. This can create tension in the seller’s relationship with them and may not align with the seller’s financial interests.

Transparency and Fairness

Herlong advises sellers to explore all potential interest from personal contacts before listing their homes. If there is genuine interest from a friend or family member, she suggests sharing the cost of an appraisal to determine a fair sales price based on an unbiased professional assessment.

Unlike an appraiser whose role is to provide an objective valuation, Herlong’s role as a Realtor is to help sellers get the best possible price for their homes. This distinction is important, as friends and family members may not be prepared to pay the market value.

Conclusion

For sellers in Greenville, it’s crucial to understand that exclusive agreements with listing agents do not accommodate personal discounts for friends and family. By setting a fair price based on market analysis and professional appraisals, sellers can ensure a transparent and equitable selling process.

Ultimately, the goal is for sellers to maximize the value of their homes while maintaining positive relationships with their personal contacts. By working closely with a reputable Realtor and following best practices in pricing, sellers can achieve a successful and stress-free home selling experience in Greenville.