How To Approach Selling Agents

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Many selling agents will advise that making friends with them is a great way to be successful in purchasing the property they have for sale. I say, keep your cards close to your chest.

Be friendly by all means as a happy selling agent is one that will call you if they are selling the property prior BUT do not tell them your budget and do not give way to your emotions and tell them how you ‘just have to buy it’. Selling agents represent the vendors and are legally engaged to do so. They are there to sell the vendors property for the highest possible price. They are not your friend and legally would have a conflict of interest if they tried to represent you along with the vendor.

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Don’t get me wrong, you need to have a very good relationship with the selling agent, but just know, while you are a very important part of the process, they are not there to make sure you buy well, they are there to make sure their vendor sells well.

Good selling agents will give you valuable information. They should be able to tell you how many people have requested contracts, what the interest level is at that point in time of the campaign, have they revised the quote price due to high interest or low interest (some quote ranges go down during a campaign) and they can also assist in asking the vendor if your terms for settlement or deposit will be acceptable should you be the successful purchaser.

Good selling agents will also let you know of any new properties coming on the market via their email alerts or even calling you. Make sure you have these alerts from more than one agent as not many will tell you about a competitor’s property!

A good relationship with the selling agent should mean a ‘win-win’.

 

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