When you’re buying a home, it’s a good idea to tell your real estate agent about yourself and your situation. This gives them insights into your motivation to buy the property, which they can pass on to the seller. In this real estate vlog Henry discusses why this can help you with securing the deal on a home.
“Hi, I’m Henry from ReMax. So you’ve just made an offer on the property and after you’ve made an offer, it’s always a good idea to tell the agent what your story is. So what do I mean by that? Give the agent something: “I’m married, I’m single, I’ve got kids, we love the home and we love all these aspects about the home.” You tell them what you love most about the home, why you want to buy the home, why it suits you, why you should be the buyer to buy this home. I can tell you, most of the time a seller accepts an offer based on price, but I have seen times when the seller has actually accepted an offer at a lower price because it’s better conditions. Also sometimes, not too often, but sometimes, a seller accepts an offer because they like the buyer.
So you give the agent as much as you want to give about why you’re buying. For an investment, to live in, what you love most about the house. Also give something to the agent to relay to the seller to give them confidence that you’re going to follow through with it. Now I don’t know about you, but having been in real estate since 2006, I’ve actually had buyers show me bank statements. No joke. They literally show me bank statements and bank balances. And I’ve seen that with my own eyes. Not that you’re going to do that, but if you can, it gives confidence. Something could be, “Oh look, I actually own this house, that house, that house. I own three houses and it’s unencumbered.” If that’s something you’re willing to share with the agent you say, “You know what. You can tell the owner that. I own three other houses unencumbered. No debts.” It gives the seller assurance that you’ve got money, your borrowing from the bank will go through because you have a lot of assets. So whatever you can give to the agent to relay to the seller to give confidence that “you know, I’m going to buy this property, this is my offer”, to give them more assurance that you’re going to follow through with this. That’s what I mean by telling them your story.”