“Win Win” in Real Estate is a myth
Brokers say it all the time. They will say something like ” I negotiated a “win win” deal. Real Estate is a “win win” situation. Really? For whom?
OK, so I admit I dislike that term…I just don’t see how a buyer and a seller who have opposing interests can both win. At the same time. Not happening.
Agents will then go on to say something canned right out of the coaching books like… “well, the seller wants to sell and the buyer wants to buy”. That part may be true. Sorta. But it’s still not win win.
Here is the truth about “Win Win”:
- Price. Does the seller and the buyer always want the same purchase price? Not a chance. The seller wants full price and the buyer wants the lowest price possible. The seller thinks they have a palace and the buyer thinks that the seller is making too much money on the deal. No win-win on that.
- Terms. Seller wants a large escrow deposit to hold the buyer in the deal and the buyer wants to deposit only pocket change so they are not committed too deeply.
- Condition of property. Buyer wants the seller to fix everything and make it just like new and the seller does not want to recognize any deficiencies because they have lived there for 20 years and it was good enough for them. Seller ain’t gonna want to fix nothin…
- Extras in the house. Buyer wants all the appliances to stay with the house and the seller wants to sell them to their cousin. Or the buyer wants the extra refrigerator in the garage to stay and the seller planned on keeping the nice one from the kitchen and replacing it with the older spare in the garage. Commonly called “bait and switch” and not “win-win”.
Win Win is a smoke screen
Using the term “win-win” is part of the smoke and mirrors that real estate agents use when they act as dual agents, transaction brokers or facilitator. You know, when they have both the buyer and the seller in the same transaction and sometimes pretend to represent both sides.
They want to keep everyone happy so they throw out the “win-win” words and hope the buyer and seller are buying into it.
The reality is…
If any agent is truly representing anyone, it is either the buyer or the seller. That agents job is then to negotiate the best price and terms for their client. Nothing else. Nobody else. No win-win.
When I represent a buyer client, I do not empathize with the seller. My focus is only to get the buyer what they want. Sometimes in negotiations you might give up something to the seller, to get what you really want, but it is never a win win. Both sides never win.
Win-win in Real Estate is a myth. One side is always happier than the other side. I just want it to be the buyer who is happy…If you want to be a happy buyer call Buyers Broker of Florida 407-539-1053.