Do we hate being lied to?

Or do we hate being lied to unless we like what we’re being told?

Perhaps this is one of life’s great mysteries.

In terms of selling real estate though, I can tell you with certainty that in some cases, it’s the latter.

“How Much Is My Home Worth?”

Late last year we received a call from someone who was preparing to sell a family estate home. Gratefully, she asked if I might be available to come and see the property in order to provide the family with an estimate of market value.

After walking through the home, taking extensive notes, and discussing the sale goals, we provided them with our in-depth market analysis, which includes an accurate estimate of the current market value of the home.

“Sorry, Another Agent Promised Us A Higher Price”.

We didn’t get hired. Why? Because one of the other family members involved brought in a different Realtor™ who told the family that the house could in fact be sold for a much higher price than what we estimated.

Well… the house did in fact sell! I mean, it took months of sitting on the market, and it sold for $100,000 less than the asking price, but the good news is that it sold for exactly the number that we provided to them in our market value estimate, months and months ago.

Nevertheless, we’re genuinely happy for them. Of course we were disappointed not to get to work for them, but that’s how it goes sometimes. Ultimately, they’re great people, a great family, and their decision to hire a different agent wasn’t a decision they made out of malice. They simply trusted that the agent they hired would deliver on his promise of an astronomical record breaking sale price.

“Overpromise To Win The Listing?”

You can’t help but feel a little irritated when someone else gets hired over you, especially when they opted out of doing their homework and chose instead to overpromise as a means of getting the job… what’s the point of being so honest and transparent if it only results in missing out on getting the sale done for good people, and earning an income while you’re at it?

Many agents out there in these scenarios have no qualms about telling the potential seller client exactly what they want to hear. Overpromising (and inevitably underdelivering) unfortunately, can be an effective means of persuading someone to hire you.

Now listen, I’m not saying that pricing a home at a premium is never a warranted strategy. Depending on the market conditions, it can be a great way to earn a higher profit for your sellers. The key to success is that this has to be carried out with the full understanding and co-operation of the seller right from the start. The “bait and switch” approach on the other hand? Not cool.

So Let Me Ask You:

Would you rather hire your prospective Realtor™ because they agreed to sell the property for the price you want?

Or

Would you prefer to hire your prospective Realtor™  because they provided you with the facts up front? Even if it’s not what you wanted to hear…

“Do you hate being lied to?

Or

Is it that you hate being lied to unless you like what you’re being told?”