I had a discussion with a buyer regarding broker comments on the internet. These comments are made by any broker who previews the house. The buyer thought it was good to find out what other agents thought of the property.
On the surface the broker comments may sound like helpful and useful information. However, the broker who wrote the comments may have a competing property listed and wants to downgrade the competition. The comments are subjective. I recently had a listing that a broker wrote comments the kitchen needed updating. While having an open house a buyer marveled at the kitchen and said, “This kitchen doesn’t need updating”. When asked about his comment he said he saw it on a website.
A broker commenting on the structural condition of the home is practicing outside of their area of expertise. A buyer might love the home and should have a qualified inspector assess any structural issues. Sometimes they turn out to be minor and sometimes not.
Here’s one example. I previewed a home that a broker posted on the comment that “there are significant water issues that would be very costly to remedy”. The agent went as far as saying it is a “money pit”. Upon further investigation for my buyers, I found out the problem was a pipe in the upstairs had burst when it froze last winter. The problem was corrected by a professional plumber but the unsightly patch up work remained. Looking at the comment as a buyer one would think the house had a huge issue and would dismiss even looking at this home. The fact is the agent has tainted/damaged that property with unqualified remarks.
If you were the seller how would you feel reading comments about your home that were unqualified and factually untrue? As a buyer, how would you feel about missing out on a home that may be perfect for you because of unqualified remarks?
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