Home Buyers Guide

Chapter 4: Choosing the Right Property

Dealing with Estate Agents...cont

Don’t forget:

• The estate agent will generally know what price the seller would accept.

• While the agent works for the seller, the reality is that the estate agent wants the ‘deal to go through’.
Give away as little information as possible

We want to find out as much about the seller as we can, so we can guess the absolute minimum price they’ll accept.

The flip side, is that we want them to know as little about us as possible.

• Don’t tell the agent how much you’re willing to spend

• Don’t tell they what size mortgage you have been approved for.

• Don’t tell them you’ve fallen in love with the house. Play it cool.

• Do let them know you have mortgage approval – just don’t tell them how much it’s for.

Give them a time limit

After you make an offer on a property, it’s in the seller’s best interest to string you along, for as long as possible, to see if someone else will make a better offer. The longer they hold out, the better chance there is that another potential buyer will surface.

So it’s your job to create a time limit, so they don’t get a better offer in the mean time. Something as simple as saying that you’re also interested in another property can get things moving.

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