One of the ways we can best explain (and remember) what we are obligated to follow when dealing with clients and customers is taught to us using the term OLDCAR. Each letter represents a different obligation and this 6 part series, I am going to break down each on. This week we focus on disclosure.
This is part of a multiple entry series, so I encourage you to head over to Episode 77 to start the series at part 1 if you haven’t already done that. I also think you may find some value in taking a look at episode 63 as that is an overview of the entire series wrapped into 1 entry.
INFORMATION IS POWER
If you have read or watched any of my previous post, you know I am a huge advocate for knowledge. Owning information in my opinion is the best preparation for making prudent decisions.
As your agent, it’s my obligation to provide “Disclosure” to you . This means that with all of the information I have about a property that you would find helpful, I am obligated to share it with you. If I possess information about the property that would move your decision needle in a direction, I should present that info to you.
Let’s take a random example and pretend I am your listing agent. We have placed your home on the market, and in that process, a few potential home buyers have come in and taken a look at the home. They LOVED our marketing and 2 different buyers believe this house is perfect for them. Both buyers have submitted offers on the home. Couple 2 has placed an offer $10,000 more than couple 1.
In our example, I happened to be dropping off additional marketing materials as couple 2 was leaving. In the conversation with their agent I overheard them discussing their potential problems with financing due to the husbands potential job loss situation.
As an agent I know the stories well of a deal falling apart weeks into the process because a couple can’t complete the deal due to job loss. While the $10,000 offer on paper seems like the best decision, arming you as my client with the information from couple 2 could change your decision. It is up to me to me to provide you with the details, advise you on your options and then allow you to make your decision based on that information.
MORE INFO AT ChrisWhitehurst.com
If you are finding value in this series, or on any of the post, I hope you will share, like and subscribe. I release (or try to release) a new video each week. I recently did an entire series on the current market. It’s been a big hit with many people wondering what the market is doing with the rising interest rates and looming recession. I get asked frequently if the market is going to pop like it did in 2008 and many buyers and sellers are worried. If you’d like to check out that series you can find it HERE. Spoiler alert….the market is not going to crash!
Stay tuned and plugged into the web site at chriswhitehurst.com or my social media feed. There I am certain you will find plenty of resources to equip yourself with everything you need for your next real estate transaction….and I hope you will keep me in mind when you are ready to begin that journey! Welcome Home!
Chris Whitehurst
Rose and Womble
252 312 2263