Last week a reader requested a blog about “suggestions on how not to be bullied by the big guns of realty.” Here’s the best advice I can offer from my limited experience.
When working with realtors, remember, they are salespeople. They are trying to make a sale off of you and get a commission. If you haven’t signed a contract with a realtorA Realtor is a designation given to a real estate agent or broker who is a member of the National Association of Realtors. or promised exclusivity, you owe them nothing.
The many lines of a bullying realtor:
- This place is not going to stay on the market
- Apply first. Why bother with the details if you might not even get the place?
- Everywhere you go there will be an applicationYour Application is a series of documents you must fill out when you apply for a home loanA Loan is an amount of money that is lent to a borrower, who agrees to repay it plus interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds.., or insurance policies. feeAn Application Fee is a one-time fee charged by a company for processing your application for a loan. For a home loan, the application fee is sometimes applied toward certain costs, including the appraisalAn Appraisal is the opinion of an appraiser, who estimates the value of a home at a specific pointA Point is one percent of a loan amount. in time for the purpose of financing or refinancing a home. and credit report..
- You aren’t going to find anything better than this with your parameters.
- For your price range this is the best you’re going to do. And it’s great so snatch it up!
- I promise this apartment will be gone tomorrow.
- I’m going to be unavailable until late next week so you should apply now or you’ll have to wait until then and it could be gone.
- If you’re at all interested, just apply, you don’t have to rent it.
Here’s some creative ways to slow things down when a real estateReal Estate is land and anything permanently attached to it, such as buildings and improvements. agentAn Agent is an individual who acts on behalf of a consumer. A real estate agent represents a buyer or a seller in the purchase or sale of a home. Licensed by the state, a real estate agent must work for a broker or a brokerage firm. An insurance agent helps a consumer purchase an insurance policy. Insurance agents are also licensed by the state.A Real Estate Agent is an individual licensed by the state, who acts on behalf of the seller or buyer. For his or her services, the agent receives a commission, which is usually expressed as a percentage of the sales price of a home and is split with his or her real estate firm. A real estate agent must either be a real estate broker or work for one. gets pushy. Quick note: if you have a roommate you should probably discuss your defense plan before you go into a showing.
- Act dumb
You can’t pay an application fee if you forgot your wallet can you? Nope. Being a young renter, I found a lot of realtors already assumed I didn’t know what I was doing. Take advantage of that. Playing dumb is actually a great way to get all of your questions answered without seeming combative and difficult.
Acting dumb is easy enough to do and can give you a lot of wiggle room, however your agent might not take you seriously if you over do it.
- Blame other issues
You should always bring a tape measure when you’re looking for apartments, and it can be a great way to slow things down with a pushy agent.
Simply gasp and say “Wait! Oh no! I bet my (insert prized possessionPossession is being in control of a piece of property, and having the right to use it to the exclusion of all others. here) won’t fit in here. I need to measure.” Measure up a space that grandma’s cedar chest has to fit in and say that it’s 15 inches bigger than that space. Explain that you’ll need some time to think about if you can live without your made-up item and will measure it again just to be sure. No application today.
Be careful of the imaginary item you pick. Do not use a bed as an excuse, most real estate agents know the dimensions of a bed and will try to convince you a full bed can fit anywhere.
- Bring up the commission
If you’re more the aggressive type and an agent has been really pushing you, a quick way to get them to step back is to bring up their commission. In a neutral tone say, “I know you’re working on commission, and clearly you want this sale, but, like I said, I’m not ready to make a decision right now.” Don’t be rude, but be firm. Once it’s out there you might even find that you have a more honest relationship with your real estate agent.
- Get your parents involved
You are not a failure if you ask for help. My parents have owned and rented more property than I have, clearly they know more than I do. Parents can be your greatest weapons.
A story for another day is when I got my parents involved during my apartment finding hunt. Best thing I ever did. They got to be the heavy hitters and I got to play dumb with the realtor and apologize for them being “so embarrassing.”
Hope these ideas help! Let me know if you’ve ever had to deal with a pushy real estate agent or realtor.
Stop by the blog next week, I’ll finally tell you about my experience with Apartment People.
Have a great Thanksgiving!