What you 'NEED TO KNOW' about Negotiating

Your REALTOR® and a few other professionals (such as your Real Estate Lawyer) have a fiduciary duty to act in YOUR best interests when you Buy or Sell a Property. Protect yourself by NOT DISCLOSING the following to a third party (that you might end up Negotiating with):

1. Your Profession: What you do for a living is NOT a topic for discussion at an Open House! Answering that question, even in casual conversation, can impact you negatively as a Buyer/Seller in a Negotiation. Remember, the Agent representing the other side in this Real Estate Transaction - or someone they work with - may ask you questions that are in THEIR best interests to ask. Protect yourself, do not answer, simply provide your REALTOR's® contact information as your response;

2. Your Motivation: disclosing your reason for Buying/Selling/Relocating/Investing lets a third party know just how "desperate/excited" you may be, keep this CONFIDENTIAL information between yourself and your REALTOR®;

3. Your Downpayment Amount: how much you have saved to purchase a property is information for you, your lender and your REALTOR®. Knowing the amount of purchasing power you have can help a Seller (or their Agent) to predict "how high you might be able to go"with your Purchase Price, or other key items, that may come into play during Negotiations. Stay protected and when in doubt ask your REALTOR®;

4. When Purchasing or, even simply browsing through a Builder's sales office or Show Home, "REGISTERING" often includes disclosing personal information that any other Seller would not otherwise be privy to (when a Buyer is represented and protected by a REALTOR®). Your REALTOR® would be happy to accompany you to an Open House or Show Suite and can even book a Private Appointment so that you can view property when it is convenient for you. If you do want to visit first, just to take a peek, include your REALTOR®'s name and contact information with your registration to let the Seller/Builder/their Agent know that you have Professional Representation. Prior to visiting any sales offices or Open Houses, talk to your REALTOR® about the safest ways to proceed to keep sensitive information from prying eyes so your negotiating powers are not diminished unecessarily. You certainly do not need to be afraid, but even experienced Buyers and Sellers can get too comfortable and forget who might be listening.