Real estate agents deal with a huge variety of buyers. Every home buyer is different, and while there's no book or course that teaches you to say certain things, it's strange how so many different people say similar things during the home buying process.
What's even more interesting is that many of the things they said they ended up regretting or doing a complete 180-degree turnaround over time…
Here are the top five “famous last words” agents often hear from buyers:
1) “I know how much I can afford to pay…”
Some buyers get annoyed when real estate agents ask if they've been pre-approved for a mortgage, and some try to brush off the question by saying they know they can afford the home they want to see.
Unless you work in the mortgage industry, the chances of knowing exactly how much you can borrow and whether a bank will actually lend you that amount are pretty slim. Many prospective buyers have had their hopes and hearts dashed when they saw homes they couldn't afford because they assumed a lender would approve them for a certain amount, only to turn out to be wrong.
2) “I would never buy a (insert style of home)…”
Buyers often tell agents that they'll never buy a certain type of home, so there's no need to show them. But even the most die-hard condo or bungalow critic can be seduced by a style they swear by. Keep an open mind; your dream home might be hiding behind a style you never considered.
3) “I need to get some sleep and think about it.”
Taking the time to think it over seems reasonable, but the real estate market is moving fast and hesitating can have disastrous consequences. If you need to “sleep on it,” it's best to take a quick nap instead of sleeping through the night and having sweet dreams. Otherwise, you might find that your dream home has already been bought.
4) “I don’t want to get caught up in a bidding war…”
In all fairness, no buyer wants to be caught in a bidding war…
However, some buyers swear to their agents that they won't get involved with a home if multiple offers come in. Unfortunately, if there's a home they like, there's a good chance other buyers will like it too. So often, buyers who adamantly refuse to join the fray when they start their home search end up declaring war on their competitors to get the home they want.
5) “You can always increase your offer amount, but you can never decrease it…”
Most buyers want to get the cheapest price possible for a home, which often means making an offer below the asking price, but some buyers believe making an unfairly low offer is the key to landing the deal of the century.
While it makes sense to always be able to increase your offer amount, submitting an outrageously low offer can work against you, and the seller may not even give you the opportunity to increase your offer if they feel insulted by your initial offer amount.