Buying a home can be a stressful and overwhelming process — from managing finances, dealing with legal stuff to finding the perfect property.
Sometimes this process gets even more daunting when you deal with estate agents, who focus more on closing a deal rather than finding a suitable match for you.
Estate agents may use some tricks to pressure you into making quick decisions, while you prefer taking more time to consider options.
To help you avoid falling for such tricks, property experts at Land of Rugs have shared seven tricks estate agents use against you when you look or discuss buying a house.
- They don’t tell you the price
This is a common trick estate agents use to create a bidding war among buyers.
This can result in buyers paying a higher price for the property than they would if the estate agent was honest about the price from the start.
- They make you think you’re losing the property
Another trick estate agents use is to urge buyers to act quickly or they run the risk of losing out on the purchase.
This sense of urgency can lead buyers to make impulsive decisions while overlooking important considerations or negotiating better terms.
- They use code words
Estate agents use terms that may convey a different meaning to what is actually meant.
For example, common phrases such as ‘has so much potential’ or ‘needs TLC’ actually mean that the property needs lots of work done.
Observe what words estate agents use and try to uncover if they’re actually trying to hide something.
- They are chatty
Estate agents may talk a lot while you take a look at the property, hoping that you will provide information about your personal life or financial situation.
Buyers should be careful not to disclose too much information, as estate agents may use this to urge you to buy the house.
- They tell you to offer more
Estate agents may tell you to increase your offer, so that you have a better chance to purchase the property and beat other competitors.
It’s important that you stay firm and not succumb to pressure from the estate agent to exceed your budget limit.
- They tell you to skip the property survey
Estate agents often try to convince buyers that there are no issues with the property, so there’s no need to complete the property survey.
This is often the case if the property was listed for quite some time.
It’s important to complete the survey, so that you may be aware of any issues that the property has before you make an offer.
- They try sell you the ‘neighborhood’
Estate agents sometimes use location as an important factor when selling you the house.
While the location may be important, buying a house based only on the appeal of the neighborhood can lead to future regrets.
Make sure to let the estate agent know that your main priority is to find the perfect house first.
Images
Ritchie Valens
The Agent
Erol Ahmed
Douglas Shepherd
Mohd Elle
