4 Things You Should NEVER Say to a Real Estate Agent While House Hunting

Young coupleAs you go through the process of buying a home, you might find that the real estate agent is very helpful. While agents are an important part of the process, keep in mind that their goals are not the same as yours. You are looking to find real estate at a reasonable price. For the most part, they are looking to make a nice commission. Here are a few pieces of information you should never say to real estate agent.

4 Things You Should NEVER Say to a Real Estate Agent While House Hunting

  1. Saying you’re not interested when you really are: This might sound like a good mind game for negotiations, but truly if you tell an agent you aren’t interested they are going to believe you. If you are interested, say so. You should still fight for a good price, but saying you aren’t interested could cost you the home.
  2. Letting them know your budget: Saying your exact budget might limit your opportunities to see properties that might be slightly out of your price range. It might also encourage the agent to try to sell you on the high end of your price range, as opposed to showing you a wide range of properties.
  3. Let them know about your timing constraints: If you have a timeframe for finding a new house, don’t share that with a real estate agent. This will encourage them to pressure you into paying more or closing the deal quickly. Instead, be ready to rent if you must. It’s better to deal with a temporary inconvenience than to get stuck with a bad deal on your home.
  4. Don’t let them know your thoughts on price: Avoid sharing your opinions about the price of a home you are looking at. Guessing too high will encourage them to upsell you. Guessing too low might mean they write you off as a serious buyer. Instead, compare the house in terms of quality with other properties you are considering. This will help you figure out the agent’s own price estimations.

Real estate agents are a helpful and necessary part of the home buying process, but it’s a mistake to let them in on all your thinking. Knowing what to share and what to keep to yourself will give you an advantage in finding a good deal.

Garland & Mason, LLC is a New Jersey business law firm with expertise in areas such a real estate, business litigation and other forms of business law.



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