| Tip #17 in our series of 70 ways to save money | | | | 250 thousand for a house. |
| when buying a house is to never tell your agent | | | | There is no telling if your agent will keep your |
| the top price you will pay for a house. | | | | information confidential. By law, they are supposed |
| In our last tip, I explained to you the importance | | | | to, but it is very hard to prove, and you do not |
| of having your own real estate agent on your | | | | want to take that chance. By giving them a range |
| side. And if you are going to but property you | | | | they have all the information they need to do |
| should have an agent on your side, especially if it | | | | their job well. They can show you all the houses |
| does not cost you anything. | | | | that meet your needs in the price range you |
| But, your agent is human, and there is no way to | | | | gave him. Then, if the agent shows you a house |
| tell if he/she has your best interest in mind. The | | | | that is above your price range, you might want |
| higher the price of the house you buy, and the | | | | to think about getting another agent. |
| more you pay, the larger the commission for | | | | After giving a solid range, there is no reason an |
| your agent. So if the agent was selfish, she would | | | | agent should show you a house that is above |
| try to get you to pay as much as possible. She | | | | your range, unless there were not enough homes |
| wants you to buy the most expensive house you | | | | in your range. But if you do some homework, |
| looked at because if you buy it, it will be the | | | | you should easily be able to choose a range that |
| largest commission for her. | | | | you will be comfortable with and that has plenty |
| By pushing you just a little bit towards the more | | | | of homes to choose from. |
| expensive house, she will make a few hundred | | | | By keeping this information to your self you |
| dollars more. Not bad for a few seconds of work. | | | | protect yourself from the human tendencies that |
| Or say you are negotiating with the sellers, and | | | | get us all in trouble. Realtors are human, and you |
| your agent knows you can pay more than you | | | | should remember this. |
| are offering. Will she be able to go in to the sellers | | | | By giving your agent a range of prices of homes |
| and really sell them on the offer? Probably not. | | | | you want to see, you are making it easier on the |
| That is why I suggest you never tell your agent | | | | realtor to narrow down homes to show you and |
| or any real estate agent how much you can pay | | | | you can save yourself a boatload of money at |
| for a property. | | | | the same time. The best thing is, that you would |
| Your agent will ask you how much you can | | | | never know if your realtor did something that |
| afford, but do not tell. Give a range. Tell him, | | | | made you pay more. Do not let the realtor screw |
| We would be comfortable paying between 225- | | | | it up for you. Keep this information to yourself. |