Never hide these things from your estate agent
The more information buyers can provide their agents, the faster they can find their dream home.
Effective communication is a fundamental factor within successful relationships.
This is especially true for the relationship between the prospective homebuyer and the real estate professional with whom they choose to work.
An open communication channel is imperative for an agent to fully understand what a buyer wants and needs. Yet, according to regional director and CEO of RE/MAX of Southern Africa, Adrian Goslett, some buyers are reluctant to provide information about their finances because they want to try and get a bargain price on a property or because they think they can put in a cheeky offer on a home they cannot afford with the hope that it will be accepted.
ALSO READ: What happens to your property, in the event of a divorce?
“Buyers who say they can afford less than they can usually do not trust that their agent is on their side. Knowing that agents work on a commission basis can lead to thinking an agent will only show properties within the buyer’s upper price range so he or she might secure a higher pay cheque. If this is how buyers feel, then I would recommend they look for a new estate agent who they can trust,” said Goslett.
Taking this further, Goslett explained good agents understand the real estate business is about building and maintaining relationships, not earning a commission from selling brick and mortar.
“A good agent will be focused on securing a client for life, rather than just the commission from one transaction. To secure repeat and referral business, it is in an agent’s best interest to do the best possible job and find the right fit for both the buyer and the seller, ensuring the transaction meets everyone’s criteria,” he reassured.
On the other hand, buyers who say they can afford more than they can are only hurting themselves.
Goslett warned that those who try this tactic might end up falling in love with a home they simply cannot afford.
“Being 100 per cent honest with your real estate professional means your agent can show you homes you should be able to afford, even if the initial asking price is beyond your budget. Estate agents usually know the sellers and can tell if they would be willing to accept a lower offer. If you’re honest with your agent, the agent can then recommend an amount within your budget the seller would be willing to consider,” he explained.
Apart from your financial information, Goslett said it is also important for the buyer to have a clear idea as to what he or she is looking for in a home before approaching an agent.
He also recommended making a list of the must-haves and the things a buyer would like to have but is willing to compromise on.
“Once you know what you want, it’s far easier for you to communicate this to your agent and give them a clear picture of the type of property you require – this will make house-hunting way easier,” he said.
As a final piece of advice, Goslett reiterated that an agent can only narrow down the search and pinpoint the perfect property based on the information the client provides.
The more information buyers can provide their agents, the faster they can find their dream home.
“If you work with an agent you trust and are comfortable sharing information with, the process will be far easier and quicker. When you start searching for a home, it is best to be as upfront as possible with your real estate professional. This approach will guarantee you leave a satisfied new homeowner,” he concluded.
ALSO READ: The hottest property features in a WFH world
