Real Estate Agents: Reading Between the Lines

Very often an agent has one goal in mind: to sell the property they are representing as fast a possible, earn their commission and move on. Because this is the case they will try to show their property listings to as many people as possible in order to close the deal in a short amount of time. This means that you should not expect them to show favoritism or allegiance to you. They will stick with whoever they believe is most interested in the property and whoever they believe will close the deal the quickest.

But you also need to know how to read between the lines when dealing with an agent. They may also be trying to win favor with the seller by pitting buyers against each other in order to create a bidding war which will ultimately bring the price of the property up. This will help them win favor with the seller and will also earn them a higher commission since it’s usually based on a percentage of the final selling price.

In short though you may like and trust your agent you shouldn't be too trusting. If you see a property you like and can afford and you’ve done all the necessary evaluation of the property them you must be ready to act fast and not drag your feet. Hot properties don’t really last long if the real estate market is booming and especially if it’s a seller’s market so be prepared to make a snap decision and move towards final negotiations of you’ve seen something you like.

It's also recommended that you negotiate with the agent on their commission before you start looking around. Otherwise if you make an offer based on the agent taking a lower cut it’s quite possible they will put you on hold while looking for a buyer who will pay them their full commission.