Real Estate Ethics for Buyers

Many times the subject of the “Code of Ethics” arises when speaking of real estate agents.  But what about the unspoken ethics between buyers and sellers?  There are many times when a real estate transaction goes sour between buyers and sellers that could have been avoided.  Here are some helpful tips on real estate ethics for a buyer to help you keep your transaction as smooth as possible.

BUYERS:

  • NEVER go behind your agent’s back and approach the seller about details of the closing process.
  • Always schedule an appointment for re-showings or inspections of the seller’s home with your agent.  Showing up at the door of a seller unannounced is likely to not sit well with the seller if they’re in the middle of something important.  This might make them less likely to negotiate with you if future negotiations arise.
  • Never negatively criticize the property in a derogatory manner in front of the seller or in public.  Pointing out flaws to your agent is acceptable, but there is a fine line between constructive criticism and and being rude.  Speak to your agent so that they can appropriately express your opinion(s) during their follow-up with the seller or the seller’s agent.  More than likely, the seller has an emotional attachment to their home and will not take kindly to derogatory comments spoken in a rude manner.
  • Just passed by the home of your dreams and see a “for sale” sign in the yard?  Do you know the seller?  Under no circumstances should you show up at a seller’s door unannounced and ask to see the home, even if you think it’s harmless.  By doing so, you could jeopardize a smooth transaction by imposing on the seller at an inconvenient time.
  • Control your anger.  If you are upset that the seller didn’t follow through with an agreement, it could be for valid reasons.  Give them a chance to explain to their agent before any turmoil develops.

By following these simple tips, it could very possibly make your real estate negotiations go very smoothly without negativity or hard feelings.