
Unless you’re buying privately, you’ll almost always come into contact with real estate agents. If you’ve been reviewing properties via the internet, then you’ll probably have a short-list of agents that you’ll want to contact. Don’t be afraid to work with as many agents as you need too – but, do be prepared for continuous follow-up calls once you’re on their list - good agents will want to keep you informed about any new listings or potential listings of interest in the pipeline. They will pro-actively contact you when they list a new property that meets your needs/wants criteria.
When talking to agents you should set their expectations of what you want and how you want to operate. The following tips should help: -
Explain your timeline– Let them know your readiness. Some agents will be very willing to show you a whole range of properties and stay in contact even though you’re not yet ready to commit. They’ll understand that the decision-making process can take several months, and they’ll want to work with you through your buying lifecycle.
Explain your budget – and be honest! It’s actually common for buyers to exaggerate their price bracket (not sure why). This will end up wasting your time and your agents – It’s OK to compare a few homes in a higher price range, but remember, they’re probably out of your reach – so don’t spend too long on this activity, else you may start to get dissatisfied with the type of property that you can afford.
Share with them your Needs and Wants - (you can give them your checklists!). If your agent is constantly showing you properties that don’t fit your specific criteria, then tell them to get more focussed!
Let your agent know how you want them to communicate with you – i.e. Is it OK to call you at work?, do you prefer email?, is the time of day important?, do you want to be called as soon as a property is listed, etc.
If you’re keen to be the first to see properties, tell the agent so. Some agents will operate a “priority contact” list for properties that are just listed. If a property matches your criteria, then you’ll be notified as soon as the agent has signed it up. This can be several days ahead of it appearing on the web and other buyers being notified of it.
If you work with several agents, you’ll soon notice a range of different styles. Some may never contact you, and require chasing each time a property is listed; some will be too pushy, or will tend to bombard you, and others will fit better with your way of working. Look on the agent as an integral part of your team. If the agent is working with you the way you prefer, then tell them so, and get to a point where you’re getting the information in a form that suits you.
Having said all of this - Remember that an agent works on behalf of the vendor, not the buyer. The agent has a fudiciary responsibility to the vendor – which means that they must, at all times, act in the best interest of the vendor. Don’t expect an agent to divulge privileged information (such as what’s the lowest price a vendor will accept etc.) – If an agent were to pass on information that could compromise the price that a vendor may achieve on their property, then they would be disregarding their duty – You’ll need to respect where they are coming from.