I find it staggering the amount of important information I overhear buyers share with selling agents at an open home…

If you want to buy real estate well, rule number one is to remember who is working for whom. The selling agent will appear to have your best interests at heart however the truth is what they are really interested in is selling you a property they have for sale and selling yours if you have one to sell.

Warning: always keep in mind that the selling agent’s job and legal obligation for that matter is to get the highest sale price for the vendor that they can. The kind of help they will give you as a buyer is along the lines of helping you pay more than you have to - the sort of help you could do without!

It can often be difficult for home buyers to remember this when they come across a ‘very helpful and nice’ selling agent, particularly if they are selling the property you want. You have to remember that any information you share with the selling agent (such as your budget, buying timeframe, if you have sold or need to sell before you buy etc) will work against you when it comes to negotiating price and terms.

Always keep your cards close to your chest so that you keep a strong negotiating position. It’s harder for them to work you over if they don't know anything. For further information on what to say and not to say see my book "The Insider's Guide to Buying Real Estate". It’s a wise investment if you’re going to go up against a trained and skilled real estate negotiator with no emotional attachment to the property.