Estate agents have a nasty trick, one which is established as a technique to try and increase their commission.
If you tell them that you have £200,000 to spend, they will show you houses that are £250,000. It’s a trick that’s designed to make you fall in love with the more expensive houses and thus find extra wriggle room in your budget to allow you to afford them.
It’s one that we’re all liable to fall for, too. After all, we want to have the best home we can possibly buy – and if the price difference isn’t that great, it can be tempting to make an offer and see what happens. Of course, this is the quick
est route imaginable to overspending and over-committing your family finances – and the consequences could last for the next 30 years.
Rather than falling into this trap, you just need to develop a few ways of thinking smart when it comes to making your budget stretch. With the help of a skilled company like Joe Manausa Real Estate, you should be able to figure out a way to work together rather than against one another.
1) Be Firm On Your Price
If you have set a budget, then that budget needs to be absolute. Set a high ceiling limit and tell your estate agent your budget is around 10% beneath that, but keep your actual budget in your mind. If you’re offered properties that bust both levels of your budget, outright reject them and refuse to see them. The price should be the first thing you ask before you even look at the details of a house, never mind go and view it.
2) Be Friendly
If you want the inside track on new, great properties on the market, then you need to develop a good relationship with your estate agent. Be friendly and personable, though don’t let it cross the line to being too amiable and persuaded towards properties that are out of your budget. You can even express regret at your budget being as it is, saying you know it’ll impact their commission but you hope you can find something with them anyway.
3) Stay In Touch
If you sit at home with your house sold and just waiting for the perfect property to fall into your lap, it’s not going to happen. Keep in touch with your estate agent by way of phone or email, asking if there’s any new tips or just checking to see if any properties have had prices lowered recently. Taking a few cupcakes into their office won’t go amiss either – anything to keep you on their good si
de and encourage them to go the extra mile for you will help!
4) Have Some Flexibility
Most estate agents need you to have some flexibility. If you’re going to be rigid on price (as you should be), then you need to give them alternate ways to look for alternative options. For example, you could be open to losing a bedroom or forgoing a particular area – anything that shows you’re not being picky for the sake of it, and you’re willing to compromise to find the right deal.
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