Buying or Selling a Home in Vancouver? Be Careful Who You Speak To

Posted by Liliana Sorescu on Monday, November 18th, 2013 at 5:04pm.

Part of buying or selling a home in Vancouver is the price negotiation. Part of strong negotiation is the willingness to walk away – whether it's true or not.
 
That means it's in your best interests that the "other side" in your transaction doesn't know just how motivated you are.
 
Buyers who walk into a home and say: "I love this. I have to have this home," when the seller or the listing agent is present have just given away their negotiating power. But it can also be lost in more subtle ways.
 
For instance, they might ask why you're moving or how soon you need to be moved. The answer to either question can indicate how anxious you are to come to agreement and get the transaction closed.
 
We've been hearing lately about listing agents who insist on coming along with the buyer and the buyer's agent – and who do their best to quiz those buyers during the entire showing. If this happens to you, just don't answer the questions.
 
If you're the seller, similar questions from the buyer or the buyer's agent can be designed to gauge just how far they can push for a price reduction.
 
When you're buying or selling a home in Vancouver, talk only to your own agent.
 
Don't talk to the other party or his or her agent. And whatever you do, don't tell your friends on Facebook what you'll pay for/accept for that house. And don't discuss the transaction in a restaurant. You never know who might be sitting at the next table, absorbing your every word.
 
When you work with me, I'll help you keep your confidential information confidential – and I'll remind you of what NOT to say when the other side is present. 

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