Things you should Never Tell Your Estate Agent
May 25, 2017 Home Trading Steps
Hiring a real estate agent is a smart move to help you find the best property fitting your budget and needs. Though there are certain limitations about the things you should and should not share with your agent. The goal of the buyer and the agent are totally different and it is better to keep certain things to you. Not to mention proper transparency in communication is the most important aspect, certain information can hamper the house hunting process.
We tell you about the things you should never tell your agent.
1. Never reveal your exact budget:
Agents ask for the budget before they start looking for the properties for you. Giving a rough idea of the budget is a good idea rather than giving them an exact figure. When you give your agent a proper figure, it reduces your chances of negotiating the price of the property.
2. Never reveal your personal detail too much:
Giving out your minimum required personal detail is a good idea. Never discuss your job area, salary, family status etc that are too personal with the agent. Unless there’s an agreement of NDA with the agent, it is better to keep certain information to yourself.
3. Don’t get too excited:
When you go to see the property your agent has shortlisted for you and you end up liking a house, don’t get too excited and tell them that ‘this is my dream house’ or ‘I’ve been looking for this’. Don’t let your agent get the idea that you are desperately looking for a property. It is better to tell your agent that you are looking for it as an investment purpose.
4. Don’t tell them about your timeframe:
Agents can take the advantage if you tell them about your time frame. They will force you to close the deal in the said time frame and it won’t give you enough time to negotiate the best price and deal. If you are not able to find the property in your timeframe, be ready to rent out a house which will give you more time to look at desired properties.
5. Don’t tell them about your loan status:
Saying that you will get a pre-approved loan later will reduce the interest of both the parties. Agents and sellers look for the buyers who are willing to actually buy the property. Telling them about your loan status might not be a good idea.
We tell you about the things you should never tell your agent.
1. Never reveal your exact budget:
Agents ask for the budget before they start looking for the properties for you. Giving a rough idea of the budget is a good idea rather than giving them an exact figure. When you give your agent a proper figure, it reduces your chances of negotiating the price of the property.
2. Never reveal your personal detail too much:
Giving out your minimum required personal detail is a good idea. Never discuss your job area, salary, family status etc that are too personal with the agent. Unless there’s an agreement of NDA with the agent, it is better to keep certain information to yourself.
3. Don’t get too excited:
When you go to see the property your agent has shortlisted for you and you end up liking a house, don’t get too excited and tell them that ‘this is my dream house’ or ‘I’ve been looking for this’. Don’t let your agent get the idea that you are desperately looking for a property. It is better to tell your agent that you are looking for it as an investment purpose.
4. Don’t tell them about your timeframe:
Agents can take the advantage if you tell them about your time frame. They will force you to close the deal in the said time frame and it won’t give you enough time to negotiate the best price and deal. If you are not able to find the property in your timeframe, be ready to rent out a house which will give you more time to look at desired properties.
5. Don’t tell them about your loan status:
Saying that you will get a pre-approved loan later will reduce the interest of both the parties. Agents and sellers look for the buyers who are willing to actually buy the property. Telling them about your loan status might not be a good idea.
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