"What's your price range?"
- Thread starter adam73021
- Start date
The agent wants to know what properties to show you. What's the problem with telling them your price range, it saves wasting your time and theirs.
Unless you don't know what you can afford, in which case you ARE wasting your time and theirs.
Just be like some advertising, deliberately vague 
I give them a range that finishes a little below my maximum but I add "if I was to go that high it would have to be extremely good value"
Then I pick holes in everything as they show me around, I may not have a whinge but I do stop and have a long look at anything that is damaged or marked. Maybe touch any dints in the wall or marks on doors, I also don't talk much, they usually get nervous and start talking to fill the void.
Lots of good background info usually flows from this point.
I give them a range that finishes a little below my maximum but I add "if I was to go that high it would have to be extremely good value"
Then I pick holes in everything as they show me around, I may not have a whinge but I do stop and have a long look at anything that is damaged or marked. Maybe touch any dints in the wall or marks on doors, I also don't talk much, they usually get nervous and start talking to fill the void.
Lots of good background info usually flows from this point.
^ ^ what he said.
I do, I'm just not sure whether I'm perhaps exposing a little too much info . Was also just curious to know what others say.
I never, ever tell agents my 'price range'. I tell them what I want. ie. area I'm interested in, 4 bedrooms, block larger than 700m, etc - never mention a figure unless you are making an offer. If they think that I'm 'wasting their time' then more fool them - there's plenty of other agents in town (usually trying to sell the same property these days...)
Well you can't be held to that figure in negotiations, you can always just defer to this is our maximum for this property and we would like to offer on another property if not successful. Usually being up front is helpful.I do, I'm just not sure whether I'm perhaps exposing a little too much info . Was also just curious to know what others say.
I often say "around" or "less than" a price that is 10% below my maximum ... but ... i do most of my research online, so usually already know the price, hence rarely speak to real estate agents unless I am wanting to buy.
Gone are the days when the agent would put you in a car and drive you around from property to property all day.
Gone are the days when the agent would put you in a car and drive you around from property to property all day.
WOW !!!! Service....
Hi Adam
If we want to be shown respect we must behave in a respectable manner
If you want people doing their job – the selling agents – to take you seriously then you must behave with decorum and in a professional manner
Your broker / lending officer will have told you your maximum borrowing capacity and combined with your available funds, you will then know your maximum purchase price
So – you have a type of property and a range of purchase price. If you can buy what you want to buy in the area you want to buy in, fair enough, but otherwise it is best to e open and frank with the agents so that they can actually help you to buy
So let’s say you are looking in the Bacchus Marsh area (one of your posts referred to this). There are 629 properties for sale in the Bacchus Marsh area advertised on realestate.com.au and prices range from $105,000 through to $3,000,000.
So, what’s your price range?
According to your posts, your price range is ‘something cheap and affordable under $300,000’.
298 properties are advertised at under $300,000.
You have to be able to narrow the search to a meaningful selection. Do you want ‘cheap and cheerful’ or do you want the best your money can buy?
At what price point will the ‘best’ be applicable? There are certainly some very respectable properties for sale at the $250,000 mark – so you may not have to go to your upper limit, you may be able to keep a bit in reserve which is always a good idea if you can manage it.
So what are you going to say to an Agent?
I would tend to say what I am looking for, and why, and what I hope the property can do for me eg wanting a brick and tile reasonably modern unit / townhouse / detached house within the street light zone with good cupboard / wardrobe spaces, a lock up garage, secure back yard, ducted heating and a separate toilet.
I want the property to be family friendly or suit DINKS or appeal to the single person who works night shift and who wants to feel very secure when they come home at 2am – eg direct entry into the house from the garage (or whatever).
I want the property to have good street appeal so that enquiry will come from the ‘To Let’ board ie from people who have actually seen the property before they enquire for it.
I want the property to let at the upper end of the rent for that type of property simply because it is a good quality property for it’s price range eg a good, secure one bedroom flat or a well laid out, modern five bedroom house – whatever it is, I want it to be a good example of it’s class.
I do or don’t want to get involved with renovations and am looking for something well maintained, well presented, and ready to go from day of settlement onwards, etc.
And I am prepared to pay all my money for the right property but I would prefer to buy well within my price range so that I can do it again soon!
So, Adam, if you are prepared to buy to $300,000 then why not look at the best available property for $250,000? I am sure you are not so easily swayed or so weak kneed that someone could persuade you to buy something you didn’t want or to pay $300,000 for a property worth about $200,000.
Be open, candid and frank and you may be surprised at how helpful agents can be. I have always found agents to be very helpful people and why not? You wouldn’t be in the property business if you didn’t like people and if you weren’t interested in property.
So I would tend to say ‘G’Day, I’m looking for a two bedroom townhouse for about the $250,000 mark but I am prepared to go up to $300,000 for a three bedroom townhouse with two bathrooms and a DLUG with it’s own street frontage’ (or whatever) and see where that gets you.
Being frank may get you a lot further than you think.
Hope this helps
Kristine
If we want to be shown respect we must behave in a respectable manner
If you want people doing their job – the selling agents – to take you seriously then you must behave with decorum and in a professional manner
Your broker / lending officer will have told you your maximum borrowing capacity and combined with your available funds, you will then know your maximum purchase price
So – you have a type of property and a range of purchase price. If you can buy what you want to buy in the area you want to buy in, fair enough, but otherwise it is best to e open and frank with the agents so that they can actually help you to buy
So let’s say you are looking in the Bacchus Marsh area (one of your posts referred to this). There are 629 properties for sale in the Bacchus Marsh area advertised on realestate.com.au and prices range from $105,000 through to $3,000,000.
So, what’s your price range?
According to your posts, your price range is ‘something cheap and affordable under $300,000’.
298 properties are advertised at under $300,000.
You have to be able to narrow the search to a meaningful selection. Do you want ‘cheap and cheerful’ or do you want the best your money can buy?
At what price point will the ‘best’ be applicable? There are certainly some very respectable properties for sale at the $250,000 mark – so you may not have to go to your upper limit, you may be able to keep a bit in reserve which is always a good idea if you can manage it.
So what are you going to say to an Agent?
I would tend to say what I am looking for, and why, and what I hope the property can do for me eg wanting a brick and tile reasonably modern unit / townhouse / detached house within the street light zone with good cupboard / wardrobe spaces, a lock up garage, secure back yard, ducted heating and a separate toilet.
I want the property to be family friendly or suit DINKS or appeal to the single person who works night shift and who wants to feel very secure when they come home at 2am – eg direct entry into the house from the garage (or whatever).
I want the property to have good street appeal so that enquiry will come from the ‘To Let’ board ie from people who have actually seen the property before they enquire for it.
I want the property to let at the upper end of the rent for that type of property simply because it is a good quality property for it’s price range eg a good, secure one bedroom flat or a well laid out, modern five bedroom house – whatever it is, I want it to be a good example of it’s class.
I do or don’t want to get involved with renovations and am looking for something well maintained, well presented, and ready to go from day of settlement onwards, etc.
And I am prepared to pay all my money for the right property but I would prefer to buy well within my price range so that I can do it again soon!
So, Adam, if you are prepared to buy to $300,000 then why not look at the best available property for $250,000? I am sure you are not so easily swayed or so weak kneed that someone could persuade you to buy something you didn’t want or to pay $300,000 for a property worth about $200,000.
Be open, candid and frank and you may be surprised at how helpful agents can be. I have always found agents to be very helpful people and why not? You wouldn’t be in the property business if you didn’t like people and if you weren’t interested in property.
So I would tend to say ‘G’Day, I’m looking for a two bedroom townhouse for about the $250,000 mark but I am prepared to go up to $300,000 for a three bedroom townhouse with two bathrooms and a DLUG with it’s own street frontage’ (or whatever) and see where that gets you.
Being frank may get you a lot further than you think.
Hope this helps
Kristine
God I used to hate buying like that. Now its internet add, Google street view and nearmap.com 1st to discard the unsuitable. So much time saved for both sides.
Adam,
Give them a target list of requirements and a range for the price that finishes a bit lower than max. Knowing that they will sneak in a few slightly above that.
Scenario: If you are a vendor and your agent brings in two very interested, qualified potential buyers to look at your $300 000 property.
Party 1: Agent tells you that these people have disclosed that they are 'prepared to pay up to $300 000 for a property that matches your property's criteria' (and your agent WILL tell you this as EVERYTHING a potential purchaser says to an agent is reported back to the vendor who has employed them). They make an offer of $275 000 and say that you have two days to accept before they make an offer on another property. What do you do? Personally, I'd not accept the offer and push the agent for their extra $25000.
Party 2: Agent tells you that these people have not uttered a word about how much they are prepared to pay for a property that matches your property's criteria. They make an offer of $275 000 and say that's their 'one and only offer' as they 'can't pay any more' and that you have two days to accept before they make an offer on another property.
Which party do you think is in the better position to pick up the property for $275 000?
Party 1: Agent tells you that these people have disclosed that they are 'prepared to pay up to $300 000 for a property that matches your property's criteria' (and your agent WILL tell you this as EVERYTHING a potential purchaser says to an agent is reported back to the vendor who has employed them). They make an offer of $275 000 and say that you have two days to accept before they make an offer on another property. What do you do? Personally, I'd not accept the offer and push the agent for their extra $25000.
Party 2: Agent tells you that these people have not uttered a word about how much they are prepared to pay for a property that matches your property's criteria. They make an offer of $275 000 and say that's their 'one and only offer' as they 'can't pay any more' and that you have two days to accept before they make an offer on another property.
Which party do you think is in the better position to pick up the property for $275 000?
If I was the vendor, both are offering the same amount. In this case I would look closer at the other issues - any conditions, settlement time, finance pre-approval etc. Just because I KNOW the buyer has more money does not mean that the buyer thinks my property is worth more.
We have been both buyers and sellers, and in both cases we have a bottom line for a particular property.
As buyers, we have bought well below the maximum amount we disclosed to an agent because we were shown a good property (IP) which was excellent value in a lower price bracket.
Marg
We just say that there is no price range, we will consider each property based on the works required, and offer accordingly.
They could advertise something well above the market value - and it may not be in your price range! So might as well consider properties on a case by case basis.
They don't need to know your range.
They could advertise something well above the market value - and it may not be in your price range! So might as well consider properties on a case by case basis.
They don't need to know your range.
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