It’s become apparent, month by month, that more and more agents are choosing not to deal with other agents.
This policy has nothing to do with ‘data protection’; the reality is that rival agents are trying not to ‘share’ their applicants. They are coming at the applicant from what they perceive as a commercially driven position, in reality, not providing the buyer with a completely transparent service.
Agents and Information
When applicants register their interest with an agent, they are revealing their hand; the agent builds a strong rapport with an applicant to gather ample information about their circumstances and importantly their budget and exactly what might tempt them.
An agent has the opportunity to glean from the applicant what will make them offer more than they intended, even paying over the odds. A selling agent isn’t motivated to offer a voice of reason and encourage the buyer to stay within their original budget and sit tight. As much as a buyer might want to believe the agent will not exploit the information they provide, the likelihood is that the agent will focus very much on pushing the buyer to the top end of his budget or even beyond.
What Agents Really Want
The waters can get muddied and all too often I’ve known applicants to believe a selling agent has their best interests at heart and is their ‘friend’ – WRONG!
Trust me, when I say that the agent won’t be looking to negotiate on the buyer’s behalf. A selling agent will always be aiming to secure the highest price from their client (the seller) because that will gain them the maximum commission; that is not in any buyer’s best interests.
A buyer needs a go-between, who will communicate effectively between the seller and their agent – that’s where a buying agent comes in. They can act on behalf of their client and really do have the buyer’s best interests at heart.
An experienced buying agent who has built up strong professional relationships with selling agents over many years will be one step ahead. Put your trust in them because they will know how to negotiate and act – with or without a poker face.
Buying property should not be a gamble.