August 03, 2014
Rushing your decision
There are many ways the Real Estate agent can rush their client without their client even knowing it. Time is money. Rushing also prevents you from changing your mind and selecting another agent.
One tactic is complimenting all the houses the Real Estate Agent shows you.
There are good houses and bad houses on the market. The agent should tell you which one is good and which one is bad. The agent should have some sort of an opinion. However, if he tells you how spectacular all the houses are and how rare this opportunity, it will encourage you to buy. Fact is, opportunities are a dime a dozen. Generally, sellers do not sell houses to lose money. Your likelihood of finding that bargain house is rare. Do not be so gullible to believe your mighty agent has found that for you.
Another tactic is to claim the house could be taken buy someone else.
It is possible that there are multiple people wanting the same house. In this case, my suggestion to you is jsut back out of the deal. The seller will raise the price and give it to the highest offer. You will have no negotiating power. Further, once you make an offer to the seller and the seller has responded with a counter offer, then only you have exclusive right to purchase the property. That is, no one else can buy the property while you are negotiating with the seller. Therefore, there is absolutely no need to rush once the negotiation process has taken place.
A third tactic is leaving you out of the negotiation process.
The Buyer's Real Estate Agent may attempt to find the highest price you are willing to pay. You do not need to reveal that. By knowing the highest price you are willing to pay, your Real Estate Agent can secretly discuss with the seller's side to convince you the best price to pay and get the deal working. During the negotiation process, your Buyer's Agent may attempt to plan out the whole thing for you and leave you blinded. Do not ever allow this to happen. As the client, you are in charge. Always tell the Real Estate Agent what the next step is, which is dependent on how the seller responded. Never reveal to your Agent the highest price you would pay for the house.
There are many, many tactics the Real Estate Agent can use. The bottom line is that if you end up finding yourself buying a house in week of meeting your agent, then there is a high chance you have been rushed and you may not have even know it. Purchasing a house should be a long and time consuming process. There will always be plenty of houses for sale. There will always be plenty of opportunities. You only have one chance to make the right decision. Make sure you spend all the time you need and want to make that decisions.