Some of their Qs are reasonable and to see if you’re going to be proceedable....like if you have a mortgage offer in principle, if you have a buyer in your property, how much equity you have etc. I would answer those Qs very enthusiastically and point out I had the paperwork all ready to bring in as soon as an offer is accepted. EAs want buyers who can complete and will get on with it and not flake out because they can’t get a mortgage or haven’t got a buyer or the cash. They gauge you are a buyer. Not all buyers are equal, so if you are a cash buyer, say so. If you are in a small chain or have loads of equity, say so. You do have to sell yourself as a buyer too. The EA might have to recommend a buyer from several and if you want a house it’s important you are recommended and people choose not just on level of offer but these other things too, I would take a slightly lower offer for a buyer who looked steady and serious and able to complete over a flighty looki; person who made a grand offer but clearly had no evidence they could be to exchange.
But on very top price I might be a bit cagey. I think I would name a range and actually I’d include a price behind which I was prepared to go....just to get the chance to see some of those properties , because an offer might be accepted.
Don’t limit what you get to see by saying a figure significantly below what you will pay. What’s the point if you never get tos we stuff you’d like. It’s fine to say a figure that’s higher, but don’t go too much higher or you’ll end up seeing stuff you can’t afford and that’s being a time waster and can lead to you pushing yourself behind what’s affordable.
Name a range and say what you’d offer all depends on the individual property, but you’d be prepared to pay for something that was worth it.
It’s when offering that you need to be more careful. Look enthusiastic about the property, remind them about your strong position to move and that all your paperwork is in order, then that you love the property but can see it’s only worth £X and you’d love to get it and live there, but do have others you’re looking at, which whilst not quite so promising, would be good alternatives if the price isn’t right in this one.
Of course, the heat of the market also spends on what you can say and offer. When things are very hot, you don’t have the luxury of starting very low and maybe getting lucky. You can lose out to someone else easily. So don’t offer really low but think carefully about what you will pay and if you really want it, offer it. And accept you might not get it. On one hand it’s not good to overstretch yourself and sometimes people do because they love a house and pay £50k more than they can afford. But in the other hand, it’s not worth being stubborn to get a ‘deal’ and losing out over £2k,just so you feel you ‘won’ against the seller or EA. You’d kick yourself later to lose a property you love over what is a tiny amount in the wider scheme.
You do need to be able to view properties, including those which might be affordable if hey take an offer. Don’t exclude yourself from seeing them by naming a price too low. Save your cagey poker face for the negotiating table.