Don’t ask, don’t tell in Real Estate

This has nothing to do with the military, but everything to being a good buyer representative.  If you know what not to ask, you will know what not to tell.

The first thing I explain to a new buyer, once they have signed a Buyer Agency Agreement is, “I will never ask what you are willing to pay for a property.”  If I don’t know, I can’t tell.  During negotiations, a good listing agent will try to get this information.

I always work to get the best price for the buyer.  I have to know what they are qualified for, so I can conduct the necessary searches, for maybe a little higher price than their pre-approval.  This is part of my job, finding the buyer the best value in their price range.

Another part of my job is to tell the buyer, “no, you can not submit an offer price of $100,000 on the $499,900 builder’s model.  I don’t care what your friends have told you.  If it were true, they would be living in the model.”

Always be prepared to negotiate.  Write out a plan with the buyer.  Prepare them for a counter offer.  Council and prepare buyers for every foreseeable obstacle, but never ask a buyer what they are willing to pay for a property.  That way you can never slip up when negotiating with a rival as good, or better than you.