Although the estate agent is paid by the seller, they are only paid if they close a deal. It can be a great way to get on their side and get you to the front line when you view houses. If you’re not in their good books, it is possible to miss out on a deal
This is crucial because you will be perceived as a person searching for a home, not a nameless buyer. It is important to meet with all local estate agents in your area.
Many people make mistakes with estate agents. Demonstrate to them that you’re not a time-waster
Before you begin house hunting, make sure you have a mortgage in principle. They will know you can act quickly and will keep you in the forefront of their minds when new properties become available.
Get the name, number and email of each agent. This will ensure that you have a contact person and allow you to build a relationship. It’s easier to deal directly with an individual than with an entire office.
All your contact information will be given to them
You can give them an estimate of how much you want to spend but not all of your financial details. This could make it difficult for you to negotiate if they find out that you have more money.
Instead of telling them what you want, get their opinion.
Estate agents are well-versed in the local area and enjoy sharing their knowledge.
At the first meeting, tell them about your needs and what area you’d like to live.
You should be clear about the requirements that you won’t change and those you are willing to compromise on.
Tell the agent after each viewing what you liked and didn’t like about the house. This will help the agent get a better idea of what you are looking for.
You won’t be satisfied with the final decision if you look at properties that are outside your budget.
If they don’t call, you can call them every other day to let them know that you are still looking and to ask if there is any information on new properties. They will assume that you have stopped looking if they don’t call you.
Also, respond to all their telephone calls and emails, even if they are merely to inform you that you don’t want to purchase a property.
You should keep in touch even after you submit an offer. This will allow you to survey the property and to get mortgage valuations.
You must be available to view the houses. Agents won’t consider you serious if you aren’t available.
Don’t miss a viewing. This is rude and will likely turn the agent against your.
The agent may work for the seller and be incentivised for a high price for the house. However, they have a slightly different interest that can make them more favorable to you: If they don’t sell, they get nothing.
They will be concerned if they are the only agent and the seller doesn’t agree to a deal with them. The seller may then put the property out to multiple agents. They will be worried if they aren’t able to get a seller to agree to a deal if they aren’t.
Agents can sometimes be more willing to accept a lower price than the seller in order to get a deal. Agents can be on your side if a property is difficult to sell or is overpriced.
They may encourage sellers to accept offers PS10,000 lower than the asking price. While that might seem like a lot for you, it only amounts to PS200 for the agent. It is better to have slightly lower fees than none.
Most estate agents are honest people who work hard in a competitive market.
Be kind to them. They might be receptive if you charm them.
You can always hire a buyer agent to do the work for you!