Estate Agents Tips: 7 Things NOT To Tell A Real Estate Agent (Ep125)

Estate Agents Tip: 7 Things NOT To Tell A Real Estate Agent (Ep125)

When buying a property sometimes it can pay to keep a little something up your sleeve. Telling the real estate agent too much information can cause you to pay a higher price for a property and put you in a situation where you don’t have the maximum negotiating power that you could have.

Today i’m going to look at 7 things NOT to tell a real estate agent so you can make sure that you’re in the best position when it comes time to negotiate.

So what are things that we don’t want to tell our real estate agent or keep hidden away when it comes time to buying a property?


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46 thoughts on “Estate Agents Tips: 7 Things NOT To Tell A Real Estate Agent (Ep125)

  1. As A Realtor, and as a person, I have to say that the things he says is most likely because he has either done these things to clients or he has experienced them himself. There are "snake" people in every industry. I have worked with several "snake" Realtors and this that he speaks of is nothing. Even if you don't tell your Realtor anything, they can still do all of this and more to you. Choose a Realtor that you have gotten to know and trust by conversations and recommendations. Integrity is everything to me, but some agents don't care what happens as long as they get a check. I do whatever I can for my clients and I never have to worry about money. If you do a good job, money will flow. Focus on the clients needs and be a good agent. Get a broker involved when dealing with "snake" agents. Most will not want to lose their license.

  2. So hot. And thank you. Im negotiating the sale of my home now, and my next buy. And im really sweet and friendly so I always have to tell myself to be quiet and dont tell the potential buyers or their agents any information that will help them get a better deal. Example. I see all the flaws in my house and I could easily go threw my house and point out the flaws and make excuses. Like 'oh these floors are so ugly.' My house is beautiful and valuable and thats all they need to know from me.

  3. Your Realtor is there for you – we have a fiduciary duty to protect our clients. When I know my client's buying power is $200,000 we look for properties starting at $175k. I never want him to pay at the top of his budget. But having the pre-qual letter higher gives the seller confidence that my buyer can for sure close on the home. Sellers and their agents get nervous when they see a buyer at the top of their budget and will lose if there are multiple offers. Also, we have a conversation about what he wants his payments to be. My goal is to keep my client in their home and have a client for life. I have never once put an offer on a home at a fair market price only to have the seller's agent whine – "but they're qualified for $30,000 more – you have to offer as much as you can afford!" LOL That agent would be out of the business real quick.

  4. I had a friend who got a big settlement in a divorce and told the Real Estate agent that they were loaded and how much they had. Guess what, the real estate agent showed them over priced properties and they got totally ripped off.

  5. How about 7 things to tell a real estate agent when you are listing your house. I have a feeling they are the same 7 things but for different reasons. i found my realtor to be too pushy.

    What is a granny flat?

  6. This guy gives bad advice. Sounds like he is projecting. Your agent represents your best interests, with holding information and you don't get what your looking for. Just find a good agent.

  7. I see where you are coming from….But if you live in America. You really want to be properly represented find an agent that is honest and trustworthy and has your best interest. These tips don't really help you when you are buying/selling in America. If you don't feel like you can talk with your agent, the best tip I can give is, get a new agent.

  8. Just read "Listen, Americans" and it makes sense. If you are speaking to a listing agent, this is good advice. Australia needs to get buyers agents who will represent their best interest. Sounds like a tough market to buy a house.
    Here was my initial response;
    This awful advice unless your using an agent who you feel is a snake. Use someone you trust and if you feel that you have to set up an adversarial relationship from the get go, find another agent. A buyers agents job is to get their client the very best house, at the best price, without losing out on a property that they want to purchase.

  9. I’m sorry you’re so suspicious of hard working agents. For the record, all of the terrible things agents are chomping at the bit to do to unsusoecting consumers are illegal and agents can be fined for doing them – steep fines. If you can’t trust your agent, find one who you can trust.

    If you are looking for a house, a buyer’s agent is your best friend. Give your agent as much information as you can so she can negotiate in your favor. Don’t tell the listing agent anything. His responsibility is to protect the seller and get the highest price for them. Your buyer’s agent’s responsibility is to you, to get you the best possible price and to help you understand the market, the process, and anything else that comes up while you are working together.

    Dual agency gets tricky because the agent is helping both. That is probably a time when you should ask a lawyer for help as the agent’s hands are tied somewhat. I’d say avoid dual agents.

  10. This guy needs to get a job! Maybe he's applying for a dishonest realtor! I'm a broker and don't listen to this guy. If an honest buyer wants open communication , then just be truthful with him or her (that's all).

  11. I can't even listen to this insane lack of knowledge!!! We as Realtors cannot help serve you best if we do not know the whole story. Please do not take this to heart. He has not knowledge to back this up.

  12. Yes, I'm another American … and wondered how much of the info I was reacting to was the result of being familiar with how things work here vs. Australia. Sounds like moving to a Buyer's Agent system would be a good thing for you Aussie buyers!

  13. He is right with applying these steps when working with a "real estate agent." However, Professional Realtors with years of experience would not trap their clients with those "tactics." It doesn't matter if they tag themselves "a high producer." There are those who stumble on a sale because they work for a world known real estate company. Sad. Would you go into surgery with a doctor who didn't have any credentials? Why would you gamble with your hard earned money or property to allow a "real estate agent" who put their license with a well known company AND hadn't been in the business for at least 5-10 years or more. How about an agent who didn't take educational courses, that would give them additional knowledge of license law, fair housing? Pretty scarry, I'd say. This guy is right on point when you are dealing with "just a real estate agent." But there are professionals and those Realtors…"don't have to make the sale." They want their clients to be comfortable with "their decisions" and take time..don't rush into such a large important investment. As a Broker/Owner of a family owned real estate company, we don't have to make the sale..We want the client to buy when they are ready and we provide the information for them to make an educated decision. Sorry for the lengthy message…But, this hit a hot button for me. This guy is so right!!!

  14. Sound like this person was given bad advice and had a few bad experiences. Worse information I have ever heard. Find a Realtor you can TRUST and work together, there are lots of Realtors that are honest and committed to helping you. Remember, Realtors need your referrals to grow their business.

  15. I guess I think outside of the box compared to most of the comments I've read. I completely understand the message this guy is sending. He is absolutely on point. Thanks for sharing. GOOD INFO….

  16. You need to tell people you qualifications and where you are.I just read other comments and it says you are in Australia. This makes a huge difference. You tactics do not apply everywhere because things are done differently in other countries. You guys don't have buyer agency there so saying "Your Real Estate Agent doesn't apply.." If the real estate agent is just a listing agent then they do not represent buyers and only the seller so they will use any information you disclose to them to help their seller. Location makes a huge difference in business practices.

  17. Sounds like you aren't too sure about a Realtor's role and real estate agency! If a Realtor represents you as a buyer they would and should know what you are qualified to purchase and will only show you homes that you can afford. Realtors well at least a good Realtor likes to build relationships with people in order to get referrals. Any good Realtor wants to establish long term relationships with clients to build their business. Plus they have certain legally mandated responsibilities also know as fiduciary responsibilities to their clients. I think what you should talk about are the different types of agency there are instead of "what not to tell your real estate agent ' then a consumer would know who to disclose certain information too. It sounds like you are talking about a person who doesn't have a Realtor representing them and then in that case your points are valid but not if they have an agreement with the Realtor to be represented by them to either buy or sell a property then they should fully disclose information to their Realtor in order for their Realtor to better serve them.

  18. Listen, not trying to be a jerk but this is horrible advice. Your agent's like your lawyer. Don't hide anything. It's my job to figure out how to get you the most of what you want within the parameters. I can't do that if you're keeping stuff from me. Food For Thought. #truth

  19. #2 makes no sense. Why would my agent want me to not  buy a house she's been showing me?   When you say don't tell her my top figure?, Do you mean how much I am willing to pay for a particular property or how much in general?  You make it sound like agents cant be trusted,  so why have one?

  20. this guy obviously doesn't know how realtors work. An agt needs as much information as possible in order to serve their buyer. That agent works for the buyer, you don't withhold information from the person representing "your best interest." Making offers depend on many things, what kind of market you're in, how long the property has been on the market, if there are multiple offers so to say "never" do this is, or that, is ignoring all the factors that matter. The solds/comps tell you what the market is doing and what that home is worth. This man is not worth listening to. I am an agt, selling over 25 years., He is giving bad advice.

  21. Good info Ryan. There seems to be a lot of people missing the picture in the comments haha. Been subbed to your email for a few years now, finally going to dip my toes into the property market this year I think. It's taken some serious convincing for my girlfriend, but I'm sure we'll be fine. I have appreciated all your information over the time though!

  22. #5 is so stupid, like who in their right minds doesn't use the interney for these things. Like cmon use it to understand what your money is worth and how much house you can get for your buck.

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