It occurred several years ago, but Donna Deaton remembers it like it was yesterday. The longtime Cincinnati, Ohio-based managing vice president of REMAX Victory + Affiliates was talking to a clearly unsettled seller client when she was asked something for the first time ever: “Will people be using our bathrooms at showings?”
“That was a question never asked prior to Covid,” says Deaton.
In a recent RISMedia story, we delved into the questions buyer agents rarely or have never had asked by clients before. Here we focus on questions homesellers have posed in these changing times. Naturally many revolve around money.
“Most sellers now want to know exactly how buyer agent compensation works under the new rules,” says Josh Jarboe, broker/owner of REMAX Empire Buyers in Kentucky. “Three years ago, it was rarely even mentioned because the cooperating buyer’s broker compensation was already agreed to in local market/associations listing contracts. Now, it’s become front and center in almost every listing conversation.
“And sellers are hyper-focused on how mortgage rates affect not just demand, but their home’s perceived value in the eyes of buyers, which is something they never tied so directly together before.”
Todd Luong, with REMAX DFW Associates in Frisco, Texas, shares that questions from sellers usually center around the word “should.”
“The big one is should I sell now, or wait for the market to improve?” he says. “I’m getting this more now because of all the negative real estate news over the last couple of years, which is making sellers more cautious. Then they ask if they should make repairs or improvements now, or offer an allowance for the buyers, because they are aware of the rising inventory, longer days on market and price drops across the market.
“Finally they ask if they should offer any incentives, such as paying for the buyer’s closing costs, because sellers are aware of the increased competition from other sellers and even builders.”
It’s not all new questions sellers are asking, notes Robert Little, of REMAX Advantage in Las Vegas. He finds that they are increasingly wanting to know what they must do to their homes to maximize its appeal and get top dollar.
“With demand shifting and homes taking longer to sell, they want to know which improvements, repairs or staging efforts will deliver the best ROI,” he says. “Three years ago, when inventory was tight and it was a strong seller’s market, homes sold quickly and buyers were willing to overlook flaws. Now, sellers recognize that pricing, presentation and strategy really matter.
“I’ve also noticed that sellers are more open to my advice on pricing and positioning. Many now understand they can’t simply price above market and expect multiple offers. Instead, they want a clear plan for how we’ll position their home, from pricing and timing to marketing, staging and condition.”
Tech has impacted the selling process for owners in ways it had not even just a few years ago. Pam Rosser Thistle, with Berkshire Hathaway HomeServices Fox & Roach, REALTORS® in Philadelphia, says owner clients sometimes record and watch their own open houses, while others acknowledge that some buyers will purchase as a result of a FaceTime showing.
In the same vein, Jarboe says “I get asked, ‘Are you using AI or digital staging?’ Sellers want to know if their home will stand out in a tech-driven world. That wasn’t even on the radar a few years back.”
Other questions sellers have asked Deaton include whether they should price lower to attract more buyers or higher due to a continuing low inventory because they want multiple offers. “And, ‘How can I keep most of my possessions private, and do I have to remove my cameras and smart devices?’”
Broker William Yau of New York’s Coldwell Banker Warburg relates that more recent sellers are from out of state, wanting to know if they can leave the furniture behind for the new buyer to dispose of or keep.
“They don’t want to deal with moving costs or paying for junk, the appliances, etc.,” he says. “This is really being asked by estate sellers or sellers’ children, not wanting to deal with the hassle of getting things moved out and paying these fees.
“Another common question these days is how many years back do they need to inform the buyer in regard to the property disclosure? Like, if the roof had a leak five years ago, but they got it fixed, do they need to inform the next buyer about that?”
Another Coldwell Banker Warburg agent, Evita LaSasso, says the fallout from the commission lawsuit has sellers seeking reduced payments for buyer agents.
“With new scrutiny on commission rules and national lawsuits, more sellers are questioning the traditional structure than they did a few years ago,” she says. They ask, ‘Why do I still need to cover the buyer’s agent commission? Shouldn’t the buyer be paying for their own agent?’”
LaSasso adds that there is more of a willingness for seller clients to invest in small updates and staging. “Buyers are far less willing to take on renovations today, so sellers know move-in-ready homes sell faster and for stronger prices,” she says. “They’ll ask me if painting, updating the lighting and staging the place could actually get a higher sales price.”
And as opposed to even recently when sellers would let their agent handle most everything, now many want to be more involved.
“With longer days on market and more uncertainty, sellers are anxious and want tighter control over who is coming through,” she says. “Some of these questions are sensitive and may violate fair housing laws, like asking me to send them a detailed update after every showing…who came, their age and what they do for a living.”
