Had a client that asked me to find him an residential investment property. I had assisted him with sales in the past, so was happy to help. He was interested in a couple of properties listed with another agency - so I called and asked to do a conjunctional sale and to show my client through these properties. Everything was fine on Sunday when I asked, but by Monday things had changed somewhat - the agent (licensee sales person) told me - "property A is under offer so we're not showing it any more" - I asked was it unconditional? "No, not yet, but we're hoping". Property B, "we had a second viewing on Sunday and are hoping that will proceed to an offer. I have talked with the owner and he wants to wait and see what happens with that party."
Ok, fair enough - I am sure the idea of having to share some of the commission with another agency was never part of the equation, the agent had talked to their client, and there may have been special circumstances.
So what should you do if you were the owner in these situations? My advice to my clients is to not stop marketing your property until you "get enough", that is until you have it sold. Marketing builds momentum, why stop and have to re-start again?
In a situation like Property A you need to tell buyers that a property is under offer - many today will simply not bother to look further, but that doesn't mean you should stop. If it's a long conditional period there should be a cash out clause anyway that could potentially be activated.
In a situation like Property B, I would be telling my client - "get these people through, let's see if we can create some competition!"
You know, I can understand the desire to pause - selling your home can be tiring and emotionally draining. But, the danger is to believe your property is sold before it's sold. So don't stop 'til you get enough, don't stop your marketing until that contract is unconditional. You just never know in today's environment if something is going to go through. Stopping your marketing hands negotiating power to the buyer and means you have to re-start the process.
Selling your home is often an emotional roller-coster, try not to aggravate the peaks and troughs by stopping and starting the process!