11 must DOs when dealing with property agents

LOOKING to buy or sell a home. Dealing with property agents can be tricky. theedgeproperty.com speaks to several agents for tips on how to best work with them.

1) DO pretend like you have loads of money. When an agent has the impression that you have a chunky wallet, it makes you appear as a more convincing purchaser. The adage “no money, no talk” works here.

2) DO use a deodorant when you go for a house viewing with an agent. In the hot sweltering Malaysian weather, do yourself (and your agent) a favour and put on some deodorant, to avoid musty dealings.

3) DO look for weaknesses in the property so that you can highlight them and negotiate (for better) prices. It is important for buyers to do a personal assessment on the property. Look out for flaws such as water leakage and floor damages to get a better deal.

4) DO ask for a real estate negotiator (REN) tag. Make a note to check which agencies the agents are from, and if they are registered with the Board of Valuers, Appraisers and Estate Agents Malaysia, to ensure that the agents are law-abiding, educated and professional.

5) DO introduce your wife as your “girlfriend” so that your agent would not think that you are broke. From an agent’s perspective, typically, a “boyfriend” would be the decision maker and the sole buyer (especially when the “boyfriend” is a first-time purchaser and is in love -- it is much easier to convince them). When you have a “wife” in the mix, there will be two decision makers and more deciding factors.

6) DO carry a cheque book on viewing appointments -- even an expired one is okay. The sight of a cheque book may give the impression that you are a serious buyer and you are willing to close a deal if you find the right property. It also keeps the agents on their toes.

7) DO act like you are very busy and you have many appointments to attend. But never say you are flying off tomorrow. If you tell an agent that you are busy, they would carefully set up an appointment for you. If you tell them that you are flying off somewhere, it gives them the idea that you cannot make a decision, that you are are stringing them along and may disappear into thin air.

8) DO establish a long-term relationship. It is always a good idea to maintain a continuous relationship with your agent. You may require his/her services for rental, loan approvals and others things in the future.

9)  DO check if they are knowledgeable in the products that they are marketing. A well-informed agent should be able to provide comparative prices of other properties and make sure you get a fair deal.

10) DO let agents know of any special “incidents”. If you are trying to sell, do let them know of any unusual incidents that took place in your property. For example, a previous tenant was a celebrity or a suicide took place. Honesty is the best policy.

11) DO pay the agents their full fees of 3%. Agents work very hard, and they would go the extra mile if you give them the respect and fees they deserve.