Should you tell an estate agent your budget?

Mickygg

I'm truthful. It's always worked for me and I've bought and sold several times.

At the end of the day a house is worth what you are prepared to payirrespective of what your max budget is.

kinger101

I always gave them a vague number but said it depended on location and condition. I don't see why people are expecting agents to find them properties. Everything pretty much appears on rightmove now.

If you don't want to tell them a figure, tell them you'll only ask to look at ones you can afford. And you don't want any notifications from them as you have auto-alerts set up from rightmove anyway.

amibovvered

kinger101 wrote: »

I don't see why people are expecting agents to find them properties. Everything pretty much appears on rightmove now.

Erm, because the nicest properties get snapped up before they ever make it to Rightmove - they do round here anyway. I'm not looking seriously at the moment but when I'm ready I'll certainly sign up with the local estate agents.

kinger101

amibovvered wrote: »

Erm, because the nicest properties get snapped up before they ever make it to Rightmove - they do round here anyway. I'm not looking seriously at the moment but when I'm ready I'll certainly sign up with the local estate agents.

I'd never use any agent that didn't market my property to everyone. Why sell it today it one price if someone might offer you £10K more in a week.

In fact, if properties sold as quickly as you'd suggested, I'd just pop my own for sale sign in the garden and pop a sign in the local post office.

trailingspouse

I've always told them what my budget is - why ever not? It doesn't mean that's what you'll spend. They always send you properties that are above your budget anyway. Last time we bought, our top figure was £230k, they sent us a house at £240k and we bought it for £225k.

sparky130a

trailingspouse wrote: »

I've always told them what my budget is - why ever not? It doesn't mean that's what you'll spend. They always send you properties that are above your budget anyway. Last time we bought, our top figure was £230k, they sent us a house at £240k and we bought it for £225k.

Because you don't enter a poker game divulging your hand.

And that's what buying in England and Wales is.

Thrugelmir

sparky130a wrote: »

Because you don't enter a poker game divulging your hand.

To enter the game to play you need to put the money on the table though. How much to stake is a totally unrelated matter. As you can always fold your hand and walk away.

hazyjo

kinger101 wrote: »

I always gave them a vague number but said it depended on location and condition. I don't see why people are expecting agents to find them properties. Everything pretty much appears on rightmove now.

If you don't want to tell them a figure, tell them you'll only ask to look at ones you can afford. And you don't want any notifications from them as you have auto-alerts set up from rightmove anyway.

Agree. I give a vague bracket and always say it's totally dependent on the property and what I get for mine.

I do advise getting to know the EAs and hoping they'll ring you if anything comes in - but in reality, they never ever listen to exactly what you want and they drive you insane with calls or emails.

I viewed three with different agents. They all signed me to their mailing lists without my permission. Bairstow Eves must have signed me for every bloody agent in a 50 mile radius and I got all sorts of totally unsuitable properties through from offices (looking in Leigh-on-Sea and was getting Stratford in London, Sudbury and God knows where else). I replied to them all saying they were driving me crazy and they all ignored me. I had to block them each one in the end. If I remember, I'll always say not to add me now. They always put it on RM anyway. I'm not that desperate and, as above, most sellers will want others to see it, not just one client on their books.

I suppose if you're looking in one specific road they'll bear you in mind and ring just you, but if you give them your requirements, they won't take a blind bit of notice. I suppose they had to once upon a time. Different now with the internet.

Jx

AdrianC

The only reason NOT to give a budget is paranoia over your inability to actually walk away from a property within that budget but which you feel is overpriced for what/where it is. The only person in control of what you spend is you.