By no means am I suggesting you give away all your trump cards when dealing with selling agents, but there are a few cards you definitely want to show if you want to be in the running when it counts.
It’s no surprise that real estate selling agents don’t have the most trusted of professional images when compared to other professions. Love them or hate them, when you consider that a selling agent’s sole focus is looking after their clients (the sellers) best interests, it is inevitable they will rub people the wrong way whist doing their job.
If you are serious about buying a property, by sharing select information with the selling agent you might be surprised at who becomes your new best friend.
All too often I hear from clients who have come to me frustrated and fed up with the real estate process after missing out on property after property. They tell stories of how properties sell right under their nose without so much as a call back from the selling agent.
When I hear this consistently I dig a little deeper and ask a few more questions. It then becomes pretty evident to me why they were never really in the running to begin with.
Here are seven tell tale signs that will signal to any selling agent that you are serious about buying a property:
Inspecting a property very early on in a marketing campaign will show a selling agent that you are interested and active in the market. It also puts you in the box seat when buying in a competitive market where properties sell in a mere matter of weeks or even days.
Ask the selling agent what the seller’s expectations are on price. Follow this up and ask what market feedback they have received. Lastly, enquire what their own price guide estimate is. They will likely not answer this directly but ask it anyway. It shows you are mindful of seeking various opinions and are giving the property serious thought.
When asking a selling agent if any offers have been received listen to how they answer. There is a big difference between interest, market feedback and offers received. If an agent says they have had interest or feedback at a certain price point, qualify this by asking if they have had any offers in writing.
When you are particularly keen on a property you are likely to inspect it more than once. Bringing friends and family members through a property is a pretty good indication to a selling agent that you are genuinely interested.
Don’t be afraid to tell an agent that you like a property. Ask to be kept in the loop and updated throughout the marketing campaign. Especially with regard to changing price guides, the sellers motivation and if offers are made. Another good card to play at this point is the finance card. Let the agent know that your have your finance situation sorted out. If at this point you don’t have your finance approved then to be honest you are wasting both yours and the agent’s time.
Asking the agent to send you a copy of the contract is a positive sign, but asking them to send it to your solicitor is even better. It is one of the best signals you can send to an agent that you are seriously interested in a property.
Arranging to get a pest and building inspection report done on a property or purchasing or organising a strata inspection report will signal to a selling agent that you mean business. It means your getting to the pointy end and close to potentially making a move and getting ready to seal the deal.
By showing a selling agent the above signs you will very quickly signal that you are a serious buyer and a genuine contender for any property you are interested in. Try it for yourself and let us know how you go. We’d love to hear from you.
Are you actively in the market looking to buy a property? Check out common mistakes first homebuyers should avoid.
Shelley Horton is the founder of Sydney based exclusive buyers agency Albion Avenue. With a 20 year career honing her skills in every aspect of the property industry Shelley knows what makes a property worth buying and how to get the best deal.
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