Buy a Home But Keep Your Secrets
The blog below has some excellent advice for buyers on why it is important to work with one agent and to limit the amount of information that you share with a listing agent with whom you do not have a relationship. These same points are also good reasons for using an exclusive buyer agent, who only works with buyers and has fiduciary responsibility only to the buyer.
Imagine this scenario:
- You call Agent Al to book an appointment to see his listing on Charming Avenue. Once there, Al asks you lots of questions while answering yours. "So how long have you been looking for a house? When do you need to move? What have you been pre-approved for? What's the most you are prepared to spend? etc, etc." You may answer some or all of these questions.
- Then you call Agent Betty to see her lovely listing on Dream Street....Betty seems nice; easy to talk to. The same process happens again.
- Agent Carl's house on Better Buy Row looks pretty sweet....better book him, too. The same conversation happens again here.
- But wait! Check out Agent Deborah's gorgeous house on Paradise Place! Better book that, too! The same thing goes on here, but there's something about Agent Deborah that strikes you right. Something she said about loyalty to her clients makes you want to let her take on all this legwork for you....so you give her the job.
- A week later, after reviewing all the homes you've seen, both with and without Agent Deborah, you decide to re-visit Agent Betty's home on Dream Street. Upon a second look you fall in love with it, wanting Deborah to negotiate hard for the best price and terms....after all, that's what she's good at.
- But wait....Agent Betty already knows too much. Not only does she know when you need to move and how much you love the home, BUT she also knows the top dollar you can pay. How can Agent Deborah fight for the best price now? Not easily, that's for sure.
The moral of the story is this:
- Keep all your secrets in one place.
- Interview agents and choose one BEFORE you go shopping.
- Keep all your motivation and money secrets with that agent only.
- Now you WILL be in the best position to negotiate; with a skilled agent you trust, keeping your secrets close and working with your best interests at heart...fully armed and ready to win you that sweet price for your new home.