Do you know more than your Agent?
You might, but you might not. And if you begin your relationship with an attitude that you know more than your agent you may be cutting yourself out of potential opportunities.
Many buyers start a relationship with a listing agent with a disposition that the only purpose that agent serves is to sell you a particular property. That may be very true. However, with a little conversation you may find a particular agent may be willing to fill you in on recent sales, or recent community developments or other properties in the area that may fit your needs. Take it upon yourself to verify some of these statements. You could have found a person capable of helping you achieve your goals.
When calling on a particular property, you may know of the facts or figurers that the agent is informing you of but rather than cutting that person off and informing them of just how much you may already know, let them talk. The particular person may have just got there License last week and have no clue as to what they are talking about or you may find the person that knows so much that they could write a book on the area. A little patience and some careful listening could go a long way. You just might find that the “Shut up and Listen!” rule may apply and although having to listen to a sales pitch or redundant facts, new light may be shined on facts or factors involving a property or sales of similar property. Possibly, a pie in the sky price is just that, and after scaring away too many potential buyers, a seller is looking for a real offer because deep down he has an idea as to what it is really worth. (Whatever a willing buyer is ready to pay, especially true when a sale is a must.)
You may even find a true Buyers agent, someone whose goal is to educate and inform so you can make an educated decision with your purchase. They may find you an ideal property that although, it is not their listing, they can help you by working to get you the best deal because they are working for you not the seller. Not only getting you the best price, they can get you together with a reputable attorney, title company, bank, surveyor, builder, forester, engineer, and ect.
Ask questions and listen. Many times buyers ask questions and in the excitement of the ordeal ask another question before getting the first question answered. Not only have you robbed yourself of possibly pertinent information but it is extremely rude. If the answer to your question doesn’t sound right or seems odd don’t continue to question the agent on that particular subject. Many times people that don’t really know an answer feel pressured to give some answer, even if it is not right, for fear of feeling or appearing ignorant. The best answer is” I don’t know, but I can get that answer for you.” But if you really need to know the facts, do it yourself. It is not the agent’s responsibility to do your due diligence. All the agent has on the line is a commission and possibly repeat business, you, possibly your life savings. Check out this article for some great free sources of valuable information: Ten Sources of Useful, Free Advice and Information About Buying Country Property.
On several occasions, I have met people that have chose rather than listening to what I or an associate had to say, decided they would go at it alone with little or no research, because they knew more and were eager to prove it in conversation, and buy a property that was poorly priced, priced well but not buildable, or use a service from a company that raked them over the coals. These customers have later called and asked for help getting out of the hole that they dug for themselves, and many times too late.
I have found it amazing that typically people are generally interested in making more money, but rather than doing the research necessary to make more money, they will eagerly throw there money at the first thing that resembles a good investment without researching what they are getting into. Only to find they have to work harder to make up for the money they lost.
After doing the research, you may know more than your agent. But keep it to yourself, because if you don’t allow you agent to speak, you may be closing yourself out of some new or valuable info or you could be giving up valuable information that may make the property worth much more than the seller or agent think. With a little patience and some research your hard work and education should help you receive the maximum benefit to your future purchase.
Neal C. Adams, Land investor and Broker Associate of Properties Plus.
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