Never tell your real estate agent the important information related to you!!!
While candidness and transparency in communication is the key to a successful transaction when buying the home, but revealing too many information and being too open to your agents may derail your house hunting process.
Though real estate agents are instrumental in connecting you with the seller and play an important role in fulfilling your dream, there are certain things if disclosed to the agent could be a costly mistake on your part.
Let’s see the information for which you have to zip up your mouth and never tell your real estate agent about them.
“My perfect dream house is this”: Try to balance your emotion, do not be too cold when saying you don’t like the property or too excited when the case is the other way around. Over-eagerness could make you a bull’s eye of emotional pressure. Also, don’t play hard, the game of real estate is not like the dating game. Showing lack of interest could mean you are losing your dream house.
Rather revealing the exact amount, give the range of your budget: Disclosing exact budget limits your opportunities to look for different properties. Though it helps you know your affordability and the agent decide right property for you based on this, still NO. Simply give a rough idea of your budget range. Expressing exact budget will land you up finalyzing the properties on the higher end of your limit. It also hampers your chance to negotiate the property for the right value.
Unveiling too much of personal information! Who does that? Revealing too much about your profession, your family structure etc is not a good idea. The real estate agent only needs to know your financial capability to buy a property, nothing else until you enter into an agreement. You should also not tell your future plans related to the property you are planning to buy.
Don’t be strictly stick to possession duration: Never be glued to the duration when you want the ownership of the property. Telling the exact time frame you have decided to get the possession of the property encourages the agent to entice you to pay a little extra and close the deal quickly. Take time to look for the right property do not just go with the property that fails to meet your requirement. Be prepared to rent in case you don’t find the right property within a set time frame.
A big NO to giving price feedback: Never give offhand price feedback to your agent about the properties you visit. Discuss with the agent and try to negotiate before giving your opinion or coming to any conclusion. This way you will be saved to get all that hard-earned money out of your pocket if you are too high on price and the other way around, the agent will not even take your hunt for dream home seriously.
To put it simply, be cautious when dealing and speaking to real estate agents. But that does not mean you should not give any information to the agent to work with.
Also, Read the things for which you should consult a real estate advisor.