Hidden Ways Sellers Lose Money: What Listing Agents Won’t Tell You

Here’s a glimpse of what you’ll learn: 

• The hidden mistakes that quietly cost sellers money before the home even hits the market
• Why dual agency and conflicted representation can hurt your bottom line
• What every seller should know about open houses, pricing, and buyer demand
• How pre-inspections and full transparency can help avoid surprises and delayed closings
• Why staging, presentation, and smart communication can make or break your sale
• What red flags to watch for when interviewing listing agents

In this episode with Fred Glick

Before you hand over your home to a listing agent, there’s a lot you need to know.

In this episode, Fred Glick, licensed real estate and mortgage broker, breaks down the hidden ways sellers lose money and the red flags to watch for in a listing presentation. 

From dual agency and gatekept disclosures to weak pricing strategies, open house myths, and overlooked inspections, Fred explains how sellers can protect themselves, market smarter, and avoid costly mistakes.

Resources mentioned in this episode

• Fred Glick on LinkedIn
• Arrivva
• disclosures.io.

EPISODE TRANSCRIPT

Drew Hendricks (00:21)

Welcome to We Fixed Real Estate. This is Drew Hendricks with guest guest. Fred, you’re not a guest, you’re the the key man. What’s going on today, Fred?

Fred Glick (00:30)

I am the starring Fred Glick I guess. I don’t know.

Drew Hendricks (00:34)

Yes.

Starring Fred Glick and his sidekick Drew. No, that doesn’t sound good either, but I’m the egg McMahon of this. Here’s Fred. Today we are talking about

Fred Glick (00:42)

No, yeah, you’re okay. Let’s see if we can do this third time’s a charm, you know. Okay, Ed. Here’s Freddy. everybody gets

it. Let’s just keep going, yeah.

Drew Hendricks (00:58)

Today we’re talking about the hidden ways sellers can lose money. And what you need to watch out for is you’re looking to sell your home.

Fred Glick (01:07)

Well, a lot of sellers get these very, very, very beautiful presentation folders when someone comes to their house, usually from a major brokerage firm, who, you know, they have it generic and then you kind of play a little fill in the blanks and then you print it out and all these pretty pictures and all these things and things like we get a million hits to our website every day, and that’s supposed to impress you.

If they’re all for everything else but your house, what good are they? So the there take everything with a grain of salt. To be honest, when I first talk to someone, I I don’t have any presentation. We want to talk. We want to see what’s going on. We want to see what motivated you. There are some people who absolutely want the highest price, and there’s some people who just say, get rid of this thing, get it out of my hands. So there’s a variation of

Drew Hendricks (01:41)

Mm-hmm.

Mm-hmm.

Fred Glick (02:06)

The context of what a seller is going to need. So just having fancy pictures, fancy brochures don’t really mean anything. It’s all about the context of what your situation is. But there are things that real estate agents kind of gloss around and don’t really tell you. Why is that? Maybe they want to control the narrative; maybe they don’t.

Want to share things that they’re doing. Let’s give some examples. How do they deal with other agents? Are they trying to sell it themselves so they get double the commission because of dual agency? You gotta be very careful with dual agency. There’s really no reason to do it. You want the seller, you want you as the seller to be represented by one party.

You don’t want them to also represent a buyer. It’s it’s they need to have loyalty to you. Look, it’s just like a relationship. If you’re married, you you want to be with your husband or wife. And you know, let believe me, there’s some kinky shit going on, but I mean not when it comes to real estate. You you just want one person to represent you and not do this dual agency. So some of these agents will, you know.

kind of hide things because they want to control the buyers. They want the buyers to come to them so they can figure them out. And people aren’t stupid. I mean they’re not going to give away everything. And this the other things that are going to lose you money is they’ll say, and they’ll maybe say, we have this three-step process. First of all, we’re going to have private our private network. We have buyers. we have gazillions of buyers.

And we’re gonna put this out to them. And you know what? We’ll get you more money because of that. So what they’re saying is you don’t know what it’s going to sell for unless you put it out on the open market for everybody to bid on it. So how could they tell you they’re going to get more money for you? They there’s no way to prove it if they just have a private network. And we’ve had people who’ve listed with us who talked to other companies who’ve said this. So

It just doesn’t sit really well. So then what they do is they if they can’t sell it in the private network, they then go out to other agents in a quote unquote off-market listing. Maybe even they’ll call it office exclusive or coming soon. But the bottom line with all this is unless you’re a famous person who doesn’t want anyone to know that you’re selling, which I understand that.

Drew Hendricks (04:44)

Mm.

Fred Glick (05:03)

you want it brought out to the public. You want it marketed correctly. So when we say marketed correctly, what does that mean? We mean make sure the house is gorgeous, it smells nice, it looks nice, the pictures are amazing. You give people floor plans, you give people a 3D walkthrough so they could go and really see what the house is like.

Because you’re only going to end up with one buyer. Yes, you’d like to create a situation where there’s multiple buyers bidding, but in the end there’s only one person. So the idea is how you get them to come to the house. That’s my job, is to get them to come be interested. And it might not be that there’s thousands of people or hundreds of people, just a few. And it’s the few people who are truly interested.

That’s the bottom line. At open houses, sellers agents will tell you, we’re gonna do 500 open houses. What’s the point? The reason they’re doing it is that they are looking for other buyers for other properties. They’re not there to sell your house. They’re specifically there to find buyers. And you can Google or AI and ask about this, and you’ll see there’s courses.

Drew Hendricks (06:08)

Ha ha.

Fred Glick (06:28)

Thousands of courses on how to make sure that your open house runs great. Here’s specific software so you can do follow-ups with people. You know, people don’t want to be annoyed. The people who are going to be interested are gonna follow up with you. You know, to just keep calling people or emailing, if your client’s interested, well, if they were interested, I’d be getting back to you. It’s it’s if if you as an agent, as a listing agent,

I think the way to get people to be interested in your property after they’ve seen it once is to bother the agent or bother the buyers, you’re a thousand percent wrong. It’s about getting them so excited they want to come back to you. So that’s a really, really important thing. and we also try to make sure that those people are qualified. you know, in a

The typical agent, when they have an open house, first question they ask, do you have a buyer broker or do you have a house to sell? Well, my question is, hi, if you like the place, let me know. I’ll give you all the disclosures and inspections and make sure that you have a fully underwritten mortgage pre approval. No agent says that to people, but this way, I’m saying to them, look, we want to have a

Drew Hendricks (07:41)

Mm-hmm.

Fred Glick (07:48)

Clean transaction and the way to have a clean transaction is to get fully approved for your mortgage. So you don’t have to worry about it. And seller doesn’t have to worry about it. They never do that. So that’s the kind of little things that we do. And that’s going to save you money because you might get under contract with somebody who’s got some paper pre-approval from Joe Schmo’s mortgage brokerage. It doesn’t mean anything. They haven’t even run a Fannie Mae approval through the computer. And it ends up they have

terrible situation with with their funds or something like that and the deal dies. We’re not gonna have deals die because of mortgage pre-approvals. We’re gonna make sure everything is copacetic before you sign a contract with someone. So

Drew Hendricks (08:34)

That would be a buyer’s

side for the seller. What what’s a question that the sellers need to be asking?

Fred Glick (08:41)

of the agents?

Drew Hendricks (08:42)

Uhhuh. Yeah, so you’re you’re you’re entertaining, selling your house, and you’ve got these agents coming in for a listing presentation. What are some of the questions to watch out for?

Fred Glick (08:54)

Well, what you want to ask, and I’ll stick to the mortgage thing, do you how let me think about this the way to put it. Well, most real estate agents have no idea about financing. call my mortgage guy. But you need to get somebody who actually understands it because what you want to do is have them ask people, do you have them ask, do you

Ask if people are qualified for a mortgage and how, and do you know how to read a mortgage approval? Because they’ll say, here’s a pre-approval, and they think that’s it. But it says, This is not a commitment to lend. If it doesn’t say a commitment to lend money, then it’s a worthless pre-approval because that means an underwriter hasn’t looked at it. So that’s one question you can actually ask.

Drew Hendricks (09:32)

Mm.

Fred Glick (09:52)

of your buyer, do you know how to read a pre-approval? And they’ll be like, hamana, hamana, hamana. yeah, I see them all the time. Well, tell me what what’s a good what makes a pre-approval better than another pre-approval? So those are the kind of things. You know, because you want to target qualified buyers. That’s really the way it works. also ask them about what’s called dual agency. Let’s let’s go into that.

Drew Hendricks (10:19)

Mm-hmm.

Fred Glick (10:21)

Let just listen to them. you ask them, do you do dual agency? Because it’s gonna have to be in the contract. So if they start telling you, yes, we do dual agency and it’s fine, I never I’ve done them before, and there’s never been a problem. you know that’s a bad sign.

Drew Hendricks (10:31)

Mm-hmm.

Fred Glick (10:49)

Because the thing you want to hear out of them is we don’t do dual agency because we want to represent only you. Now, here’s what we do that’s a little different. We don’t do dual agency, but if a buyer comes to us unrepresented, we will prepare the document for him. We will help him with it, you know, whatever they want to offer, whatever terms, you know, we we do that, we give it to the seller, and then we counter-offer, and then he realizes.

what they can r actually do. That works a lot better. Okay. And there’s people who get it who’ve bought three or four houses and they really don’t need the hand holding. They know what to do. So that’s that’s an important thing.

Drew Hendricks (11:37)

And what are some ways that people that or realtors that do do dual agency kinda sneakily explain their way around it, even though that’s what they’re doing? Are there hot words?

Fred Glick (11:46)

I think

I I don’t know because I’m not I’m not full of their things, but you kinda ask them what percentage of your deals are dual agency and do you know ha it give me one, explain how it works and why I should you know it’s okay for you to do and what work are you doing for each client.

Drew Hendricks (11:50)

Mm-hmm.

Fred Glick (12:14)

Things like that. And in addition to that, there’s other conflicts. Escrow companies. There is a lot of companies, especially this is geared towards Southern California, where they have an escrow company, they’ve used them for years. They don’t care what it costs. The agent does not care. So what you have to do is say, Okay, if you use an escrow company, can you get us a quote on what it’s going to cost, assuming this price? And then ask them.

To use a combination title escrow company up in Northern California and ask them to get prices from them. Ask them to shop the escrow cost, the escrow title cost. Because you’re going to find we use escrow title up in Northern California. We have absolutely no affiliation with. And their prices are ridiculously good. They’re great to deal with. And that’s why we use them. It’s for the benefit of the client.

as opposed to the benefit of the agent or the agency. If they have their own escrow company, run. Do not let them use their own escrow company because that’s that’s where things get pushed under a rug and it’s just another profit source for them. It’s not good for you.

And there’s an actual affiliate relationship form that’s a federally required and tell them you want to see that before you sign the listing contract. So you can see anybody they’re affiliated with.

Drew Hendricks (13:43)

Okay.

That makes sense. And how long should the listing contract be in effect for? Or is that something you would negotiate or watch out for?

Fred Glick (13:54)

You nego completely

negotiable. If you have if somebody came to me with a house in Cupertino for three million dollars that was in absolutely perfect shape, I would say I only need thirty days to sell that. I mean, it’s basically two weekends of showings and then let’s have an offer date. But they will still ask for three months or six months. Just in case. Whatever.

Drew Hendricks (14:16)

Yes.

Fred Glick (14:19)

But you also want an out clause. You can give them six months, but you want an out if you’re not satisfied after, say, 30 days or 45 days. Because you know, you gotta if if if something’s not selling, you gotta change the marketing. You gotta change the pictures, you gotta change the description. And realize this, the descriptions, people only read about two or three lines and then they scan the rest. So these descriptions that are, you know, mile long, it’s hit the highlights. You don’t need to put everything.

Drew Hendricks (14:21)

Yeah.

Mm-hmm.

Mm-hmm.

Mm-hmm.

Fred Glick (14:49)

you need to put the things that a buyer’s going to want. You know? Because California is and Washington, where there are great schools, the house is nice, it’s going to sell. That’s what it’s all about. It’s buying a location that just happens to have real estate on top of it. the other big thing with the agent, how are you gonna communicate with me? well, we can text, we can email, we can call.

I’d like to call these agents. Say that, you know, these old agents, they love calling, but it doesn’t solve anything. You don’t have a record of it. If things are forgotten because you did it in a phone call as opposed to an email or a text, but we’ve gone to the next step and we use Slack channels. Anyone knows Slack, Microsoft Teams, kind of the same thing. It’s we’re like in a in a live text, but we’re gonna put documents in there.

Drew Hendricks (15:30)

Mm-hmm.

Fred Glick (15:46)

We’re going to do what’s called threads. So if you put something that needs an answer for that particular thing, it’s going to be all in one place. It is organized communication, is what we do. And that is the only way to do it. Because we live in Slack. We’re there all the time. So, you know, that’s a really important thing. To just have an old thing of just let’s make phone calls ridiculous.

Drew Hendricks (16:11)

No, that makes sense. No, the Slack helps you or I like what you said, organized communication. But it’s also I we always use the word asynchronous in communication. So you can put your question out there and they can respond when they need when they can. Versus a phone call, you call them and they gotta call you back, leave a voicemail and it’s all just like in one long

Fred Glick (16:25)

Mm-hmm.

Right. And you forget what you’re even gonna ask them if they can’t get back to you. So

Drew Hendricks (16:34)

Or you for

you or you forget you may have three questions. The big the biggest problem I have with questions like an email format is I may ask the client three questions and they only answer two of them. So then I gotta go back. Yeah, you forgot that last one. With Slack, if you’ve got all your threads, you you can make sure that everything gets answered. And your clients can ask the same in the same style and make sure that they’re getting their questions answered.

Fred Glick (16:58)

Exactly. Another thing that’s important is the trans the property transparency. Meaning when you get a buyer and it looks pretty and shows pretty, but you also want to give them the ugly. You want to give them and this is what we do on every every one of our listings. We run the property inspections up front. And I don’t care how many inspections we need to do. House, termite, roof, sewer video.

Mold, whatever needs to be done gets done, and then we tell this the buyers, here’s all the reports. Everything’s done. We’re fully transparent. We run the title report too, so everything’s fully transparent. It makes things be able to close in 15 days with a mortgage easily for the buyer. So that’s another thing. Exactly.

Drew Hendricks (17:47)

Yeah. Because it’s going to come out anyways. Is there some sort of argument by

the sellers like, let’s not do the inspections? They may not figure it out.

Fred Glick (17:55)

Because they think people are just gonna get their own inspectors and do their own inspections. But you know what? These guys are all licensed. We, you know, see the ratings ahead of time. Yes, somebody could miss anything. But you know, if you really, really, really, really want to get your own inspector and we’ll give you a couple days to do it, it it depends how we negotiate it. But it’s like if it’s done, it’s done. Yeah, you know, there’s and the other beautiful thing about doing those inspections up front.

We give the list to the seller and the seller might say, okay, you know what? I’m gonna do number one, seven, nine, thirteen, fourteen, fifteen, and nineteen. And we do them. We do the repair, we get the receipt, we show on the inspection that the work’s been done. You know, maybe major things so people don’t have to worry about it. So, you know, the biggest thing you’re scared of when you’re a new buyer is, my God, the house is gonna fall apart, especially an older house, and I don’t wanna buy an old house because blah, blah, blah. But

You know, some of these older houses are built solid as a rock and it’s just, you know, upgrading an electric or something. you know, but the house isn’t going anywhere. So again, it’s case to case on each, but we do run them all because it just makes more sense. And we’re not negotiating twice. So that’s another thing to watch out for. And and

Drew Hendricks (19:19)

Makes sense. Is there questions

that you can get ask the prospective s seller agents like how their pricing philosophy is or how they’re gonna come and price this?

Fred Glick (19:30)

Yeah, here’s the pricing thing. So there’s a few different ways to price. There’s really three. You overprice it, which is the stupidest thing you can do. The Sultan of Brunei is not running around on this plane and landing and coming to buy your house blindly and doesn’t care about the price. Every buyer cares about the price. There are some sellers who put up a price and wait for the market to come to them. There’s a very small chance that that’s going to happen.

But a lot of agents will make up numbers as to what you should list it for to buy the listing. I think you should, we could get four million for this easily. You know, they’re gonna, they don’t know. They don’t know who the buyers are. They don’t know what the buyers are going and be looking for and what they want to spend on the house. So you look at the comparables. Comparable sales, I look at the last 30 days because everything else kind of doesn’t.

matter unless it’s a really slow market and kind of give you an idea. But thir last 30 days, what it’s sold for, with the additional idea that if it’s a insane market where like San Francisco or Cupertino, prices are going to continue to go up. So you may price it a hair higher than what the comp is and people are still okay with that. But my favorite thing to do is price it just under what we think the comps are and what we’re going to do because

Then people say, hey, you know what? This thing is priced reasonable. Let’s go see it. So we’re trying to get them to come see the property. That’s the whole thing. Now, there’s this other game of pricing it low, ridiculously low. Price it at $9.99, knowing it’s going to go for a million seven. The reason this is done is they tell the sellers.

this way we grab a lot of interest and then we get a bidding war because of all these people bidding. Well, let me tell you, I’ve gone through these bid bidding war things with these things. And what happens is they get 28 offers, and then they only have three people that they allow to bid in the second round. Those are the three people who would have been there anyway. You’re wasting all the time of people who think they can afford it at 999 and and take their brokers with them.

Drew Hendricks (21:52)

Mm-hmm.

Fred Glick (21:53)

And some of the brokers they don’t even understand the market. So they say, yeah, let’s try it at a million twenty-five. You know, you can go over, ask, and see if you get it that way. And then it ends up in a million seven. So the reason they’re doing that is to find buyers to come to their open house. That’s all it is. So, you know what, as a seller, why not just say to these guys, for every buyer you get, I want five hundred dollars.

Drew Hendricks (22:09)

Uh-huh.

Fred Glick (22:22)

See what they say about that. You’re using my house to market you as opposed to selling my house. It’s borderline unethical. I mean, accidentally we get buyers, you know, because people like want to work with us and we understand that, but we don’t we don’t solicit them. But these every other company just about solicits them, especially the big guys. That’s their whole marketing thing.

Drew Hendricks (22:36)

Mm-hmm.

Fred Glick (22:50)

So they will try any way, shape, or form to get the listing because they know getting that listing means the opportunity not only to sell that house, but to find more buyers. That’s really what it amounts to. So you should be getting paid as a seller.

Drew Hendricks (23:09)

Makes sense.

Fred Glick (23:09)

Good

good luck with that one, but it’ll freak them out. don’t use somebody just because they’re f your friend or your cousin or your buddy you went to school with. That’s not a way to pick a real estate agent. You know, yeah, you might piss some pe piss somebody off, but it’s better to to say, look, I I value our friendship. And if something goes wrong, we’re not gonna be friends anymore. So

You know, but it’s hard because that’s the whole marketing that’s what they all do. That’s why there’s fifty two thousand Keller Williams agents in in each office. Because what happens with Keller Williams and a bunch of the other ones that they could lose their franchise unless they sign up X number of people every quarter. So you go into the nail salon and there’s five people working there and three of them have real estate licenses. So, you know, it’s it’s

Drew Hendricks (23:56)

Mm. Got it.

Mm-hmm.

Fred Glick (24:09)

It’s a system. Anyway.

Drew Hendricks (24:10)

So you determine the pricing strategy. Make sure they’re they don’t they don’t tend to undercut it or overcut it. It’s fair, transparent pricing. Designed to sell a house. Also make sure that they’re what are they actually doing with the marketing? It’s not just about opening ho holding open houses because a lot of that’s just to feed their own pipeline. It’s about how to are they gonna stage the house? Are they gonna

Fred Glick (24:18)

Mm-hmm.

Drew Hendricks (24:35)

How how are they gonna promote that house or and how you promote the house to just set make sure it’s aligned with you with your with their sellers goals?

Fred Glick (24:43)

Yes, absolutely. I mean staging is so important. People unfortunately don’t have any imagination. They really don’t. I’ve tried it without the staging, doing digital staging. Digital staging is beautiful. But people come to the house and it just doesn’t resonate. So I I’m very bold with telling people you gotta have it staged. And we don’t have like a person to stage we can

Go out and help find the staging company and get some bids, get some let’s see what their furniture looks like. Because, you know, your furniture, it might be really nice, but it’s not about what you like. It’s about what a buyer likes. So you have to design it for the buyer. I mean, that’s why I like having an empty house that I could go from scratch. You know, but if people are still living in the property, then we have to make some adjustments, possibly. Maybe you move some stuff out, move it into the

Garage, move it into a pod, sell it, do whatever to get to the minimalization of what you need, maybe bring in a few pieces of staging. Every house is going to be a little bit different, but you want to get it and have somebody understand what it’s going to look like. The other thing is if we’ve got to use your furniture, we’re gonna we’ll use it, but we’re also gonna digitally stage it for for the pictures.

Drew Hendricks (25:43)

Mm-hmm.

Fred Glick (26:08)

And then when they come to the house, the furniture’s different. It’s not like we’ve knocked down walls digitally. It’s just it’s just furniture and paint colors. So I had one woman years ago who didn’t like a house because she didn’t like the paint color. And I said to her, Do you realize once you own it, you can paint it?

Drew Hendricks (26:22)

Really?

Fred Glick (26:29)

Okay. Realize that kids. The paint color don’t matter. The furniture don’t matter. You know, it’s it’s you can my favorite line in real est yeah, exactly. My favorite line in real estate is there’s nothing a sledgehammer can’t solve. Okay? So that’s that’s the basics. And a paintbrush, obviously.

Drew Hendricks (26:35)

Mm-hmm.

Especially paint it right before you move in. There’s not gonna be an easier time to paint it.

And a paintbrush.

So we got pricing. the other part about that. So you talked about the pre inspections, but the other part to watch out for with with salaries agents is being a gate a gatekeeper of information. Like forcing calls, delaying disclosures.

Fred Glick (27:12)

yeah.

I mean if they you know, I there is a system, a couple of different ones. One is called disclosures.io. It’s a website. And what happens is you go there as a listing agent, I put all the documents in there. The title report, the inspection report, the sellers forms that they fill out, the seller disclosures, all the generic disclosures. And what we do is in the MLS, we have the link.

Drew Hendricks (27:22)

Mm-hmm.

Fred Glick (27:41)

Say here, click on this link and you can download everything. I would love to put it in the actual description of the property that goes out and syndicated to Redfin and Zillow and all that. They don’t allow it, which really stinks. But there’s some agents that don’t put the link in and they want you to call them or email them, email them, and then they say, did they see the property? What’s the difference if they saw it or not? They’re deciding if they want to see it.

Drew Hendricks (27:54)

Mm. Hmm.

Fred Glick (28:10)

But they become these gatekeepers. And it’s like that just pisses l buyer agents off. And they may go to another property because you’re being so repulsive about trying to keep it. And that also makes me think that there’s something wrong, or they’re trying to control it so that they have the buyer. That’s another big thing. Again, dual agency steps in and makes decisions for you, which shouldn’t have to make. So

I yeah, these gatekeeping things are ridiculous. If you’re gonna fully disclose everything, fully disclose it. Period. And give the information out.

Drew Hendricks (28:47)

Yeah.

Yeah. Let’s t we’re as we’re approaching the end of this, we’re we’re in the rapid fire section here. So I’ve got about eight phrases that t are typically thrown around in listing presentations and by real estate agents. I’m gonna I’m gonna I’m gonna read them to you and you’re gonna say whether this is a red flag. I’m gonna re one at a time and you’re just gonna go, is this a red flag or not? No, that’s a that’s a respectable thing to say. So

Fred Glick (29:06)

Are we gonna do it one at a time? Okay.

Okay.

Drew Hendricks (29:16)

First first statement, trust me.

Fred Glick (29:19)

Red, red, red flag.

Drew Hendricks (29:23)

Next one, we can keep this quiet.

Fred Glick (29:27)

Why?

Drew Hendricks (29:30)

I already have buyers.

Fred Glick (29:34)

You’re high, okay?

Drew Hendricks (29:37)

You don’t need inspections.

Fred Glick (29:40)

no. Nobody really kind of s you don’t need it. You don’t need them up front is what let me let me change that. That’s that’s stupid because then you’re gonna negotiate twice. Okay, the price you think you’re gonna get, then they get the inspection, and then they beat you up on the inspection, you’re gonna get lower. Know it up front. Maybe you can fix something for a hundred dollars that the buyer claims is gonna be ten thousand dollars.

Drew Hendricks (29:41)

No.

Okay. Not so much of a red flag.

Fred Glick (30:07)

You save yourself money by doing it that way. Do it up front.

Drew Hendricks (30:11)

How’s this for a golden one? We’ll figure it out in escrow.

Fred Glick (30:16)

yeah, it just it’s no problem, but everything in real estate must be in writing and agreed upon by all parties. Period done. End of sentence period.

Drew Hendricks (30:27)

What about

this price is guaranteed?

Fred Glick (30:31)

Run

Drew Hendricks (30:35)

You don’t need to see that.

Fred Glick (30:38)

Why not?

Drew Hendricks (30:40)

That’s the co yep. And the last on the top ten family feud hit list, everyone in my office has buyers.

Fred Glick (30:50)

Yeah, and

Drew Hendricks (30:52)

Do they want your home? You never know.

Fred Glick (30:57)

Everyone everywhere has buyers. So why just deal with their office? That’s called dual agency. there’s another thing in Pennsylvania, and there’s an agent from Berkshire Hathaway pushing this. Well, we have a separate situation in Pennsylvania where we’re allowed to have one agent represent the seller and another agent in the same office represent a buyer. It’s called designated agency. Well, guess what? Both agents are under

One broker and one brokerage. Hence it’s dual agency. It’s just given a different name. So yeah, it’s a little b little better, but what if those two agents are friends? Dude, why don’t you get this and d and you know? Again, it’s all under one broker. that’s

Drew Hendricks (31:45)

Or a husband and wife team. The wife represents the seller and the husband the buyer. And they

say they’re professionals so they can

Well that was the top ten red flags that we unearthed. Do you have another top top red flag?

Fred Glick (31:56)

Yeah.

Yes.

God, we’ve gone through so much here. I mean we wanna we wanna really start concentrating on giving sellers the knowledge to be able to interview people. And we we what would be really fun as a seller, here’s what you do. Interview three agents, but you bring them all there at once.

Drew Hendricks (32:06)

We have.

Fred Glick (32:28)

Me, a Compass and a Coldwell banker agent, I can’t wait. Anywhere in California or Washington, I’ll I’ll fly there tomorrow, do that presentation, and I won’t bring a thing. I don’t need to bring anything. You know? one thing about pricing though, let me add this. So if you know this is May something, you know that you’re not gonna list the house until September, because you don’t list

By the way, do not list a house in July or August unless you absolutely have to, especially August. But let’s say you’re gonna wait to September, everything’s good, and they want you to come up as a buyer, you want as a seller, you want to know what the price is gonna be. If an agent says, it’s gonna sell for this, do not use that agent. Because it’s like, here’s what it is now. We don’t know what the market’s going to be in September. If if if

Drew Hendricks (33:21)

how do you?

Fred Glick (33:24)

Interest rates have to go up to eleven percent because oil is now five hundred dollars a barrel. That’s gonna change the price of the house and what it’s worth and the number of buyers. If you know the rates drop to two percent, but everybody loses their jobs, again, the value of the house is gonna drop. I mean, I’m using things that are crazy as examples, but you just never know. So you can

Drew Hendricks (33:29)

Mm-hmm.

But it’s always the it’s

always the crazy thing that you never expected and between now and September who who the heck knows what’s gonna happen?

Fred Glick (33:53)

Right.

Exactly. So I tend to do a final price like really a couple of days or maybe the day that we actually list. Because I can then show the comps here’s what’s going on in the market. There’s also some data points that I could find out if it’s a strong seller or a strong buyer market. And then we can come up with a number. But you also maybe want to put in in the contract, it’ll say to put a number, you can put TBD.

But you also wanted the agent to know that look, if if you’re gonna price it at some ridiculous number that makes no sense, I won out of the contract. So these are another important thing. So you have to price it to when you’re going to sell, not just a number that you throw out way ahead of time. So there you go.

Drew Hendricks (34:49)

Very, very informative.

Fred Glick (34:50)

Yeah, we like to just have it logical and have a process and be transparent and make sellers comfortable. It’s all really is about.

Drew Hendricks (35:03)

Makes sense. Well, believe we’ve reached the end of this episode. This has been the latest greatest of We Fixed Real Estate. And today We Fixed interviewing selling agents and things to look out for.