Things that should not be mentioned to Property Dealers
We will discuss the things that we do not need to share with Property dealers in Pakistan. This information if shared with property dealers might bring you at disadvantage rather than giving you any gain. So, such things or information should not be shared with real estate agent or property dealer. If you share extra information, your property will sell cheaper or if you are a buyer, it will cost you more.
There is also a possibility that you might not be able to get that property at all and of course if you are selling it, you might not be able tyo sell it. So, following are the things which should not be told to the property dealers or real estate agent in Pakistan.
WHAT IS THE BUDGET OF PROPERTY OR A HOUSE
Must have seen lots of property dealers asking what you intend to spend for that property. Some property dealers even go further and ask that what is the total cash that you have, and others intend to gather information like how many other properties do you have. They want you to buy more options. Some people also try to share all added information themselves because they want to lure the property dealer or real estate agent. This doesn’t waste their time as well as yours, but it also goes to their advantage when dealing.
YOU ARE IN A HURRY
If you tell the property dealer that you are in a hurry, it will make you lose a lot especially if you are a seller of a property. You might lose 10-15% in a whole deal. In case of buying, it might go up by 2-3% too. This point is very much applicable for overseas Pakistanis, and they should not give this information both directly and indirectly.
I HAVE MISSED A DEAL OR SOMEONE HAS MISUSED MY INFORMATION
Don’t tell property dealer or real estate agent that I have missed some offered deal. They get to know your state of mind and then they try to hurry you in making a deal. You are actually in that frame of mind, so you lose money.
I WILL ONLY GIVE YOU PROPERTY TO SELL OR BUY
You normally tell property dealer that i will only give you property to buy and sell. You normally don’t do that so in a way you are lying, and this information gets known to them. He, in any case, will be sharing it will other property dealers.
I DON’T HAVE IDEA OF REAL ESTATE MARKET
People inform property dealers or real estate agents that they don’t know about property market. They then tend to fulfil some of their objectives which are as under:
I. Sell something which is not selling
ii. Impose their business model on you.
You should get knowledge but giving this information is not at all important. Learn and then invest because people can make investment themselves better with their set of information. You know your requirements, constraints, conditions and financial status better than anyone else or me.
I AM NEW IN THIS MARKET
Also, don’t share information that I am new in the market and market conditions are not known to me. People don’t tend to share right information then.
NEVER SHARE YOUR FUTURE PLANS ABOUT ANY AREA OR BUILDING
If you will share the future plans, you tend to lose because they then tend to know how you are gaining from the market. So, either you will not get that property, building, house or a plot or you will either get it way too expensive.
DON’T JUMP A LOT
Don’t share too many bad things about that property and also don’t share many good things about that property. Try to keep it in a balance because if you share lots of bad comments, they won’t admit it and won’t take it seriously and if you give too many good comments the price may go high.
All in all, no matter the reasons, do not share above mentioned points to any property dealers if you don’t want to bear any loss.
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