Asking about my money

16 Replies

I really don't like for a realtor to ask me how much money I have. I feel it isnt any of their business. I don't want to offend them but when I go in and ask about land for sale they ask how much money do you want to spend. I know they kinda got to ask but just because I have $80k dosent mean I want to spend that much & I dont want to be offered just the high priced places because they will make more comission. How do I word it when they ask so im not rude? Can I say im not sure what I want to spend show me the cheapest and we will go from there? Something like that? I know they are just doing their job but that is how they make their money off the comission and they want it to be as high as possible. I will have cash as well.

You should be the one setting the price range of the properties you want the realtor to be showing you. You don't and shouldn't disclose the exact amount of money you have, simply give the realtor a price range you want to stick with and thats that. Hope this helps!

yea but that tells them I have that high end amount lol thanks

Agents don't like to work with unrealistic buyers. They have no way of knowing if you're just a tire kicker wasting their time.

Tell them you want to LOOK at everything under $-----. You're not telling them how much money you have. You're telling them how much you are willing to spend. They have no idea if you have cash, or will be getting a loan, or have partners, or if you'll be selling other assets to generate cash..

You could just look at everything on your local MLS or and not bother with the agents until you have something you want to make an offer on

I think you are being a little sensitive about the question. In sales, you need to know what type of budget the customer has. In their minds they need to know whether their client wants a $120,000 house or do they want an $800,000 house. This helps the realtor narrow down what properties to show you so that they don't waste your time or theirs.

With investments, we tend to have a wider range for what we can afford so you need to tell them the range and maybe approximate location(s) or conditions. Something to narrow the focus so that you don't feel that their wasting you time showing you properties that your not interested in.



Welcome to BP. The best real estate site 2nd to none.

Let me put my agent thinking cap on. If I were the agent, I'd send you to a mortgage broker to get you pre-approved. If you're not willing to do that, there's no reason for me to waste anytime on you.

Once you're pre-approved, I will show you whatever in the price range you're looking for, but not above your pre-approved limit. It's a business, and we shouldn't waste each other's time.

I agree that it's important for them to know a realistic gauge, so as not to waste your time or theirs. My real estate friends and I discuss this all the time, because I find this in my travel business too. People don't want to tell you how much they can spend, for fear that you are just going to show them expensive things, but what they fail to realize is that if they don't have realistic expectations, ie, wanting to go on a trip to Europe for a week for $200 a person, then they are wasting everyone's time.

In real estate, if a person wants to only spend say, 200k, then it helps the realtor to know that, so they don't show them properties exceeding that amount.

When your attempting to purchae land you should have a heart to heart talk with your realtor to discuss such issues as the price range you wish to look in, what you're game plan is regarding time frame and if you are acquiring the property to build on later or wish to build in the near term. This is a "team" effort not a confrontational relationship. Describe the type of property which would be idea; cul de sac, corner lot, remote, in an active area, etc. Once you provide what you are looking for they will know you are not a tire kicker and you are an informed buyer.

Ok I thought they were like car salesmen & I have herd more than once to not let them guys know. Not sure why but figured it was a bad thing.

You have to think of your Realtor as your partner not the opposition. There is one saying that I think holds a lot of truth, "the first person who names a price loses". Some people may disagree with this statement but it makes sense to me. If the seller names a price of $80,000 and you were going to offer $80,000, now you can counter with $70,000. So the seller loses money in this transaction. If the property is already listed, then they set the first price. If the property is not listed, I would try to get the seller to say a price before I mention my price.

Remember that you are not negotiating with your realtor, you are negotiating with the seller. Good Luck.


Ok that makes sence. I just thought the realtor is working for their seller. Who's working for me making sure im not getting took as one realtor told us the guy selling a property we liked got took when he bought it. I dont want to get took. Can I hire a realtor that works for me a buyer? The most of us probley dont know the questions to be asking. Im one for sure.


Just to clarify, when I talk about a Realtor partner, I am talking about a Realtor you picked out not the listing Realtor. NEVER use the same agent that the seller is using, it is a huge conflict.

Hook up with a Realtor you feel comfortable with, preferably one who has done deals for investors or has investment property so they can help you with the process.


Yup. You find someone you want to work with and they will be the buyer's agent, your agent. They submit your offers to the listing agent(s) for the properties that you are interested in and they work for you. You don't pay them as they typically get half of the sales commission. The other half goes to the agent that listed the property.


As a real estate agent and investor, the way I like to approach it with my buyers is that I'd like to be part of your investing team. I want to get to know my clients well so when a property hits the market I know which of my clients would have an interest in it. I dont need to know how much money you have, I just want to know what price range you're comfortable investing in. It should be a win/win for you and your agent. Just as people like to have their own attorney and CPA, an investor with an agent working for them can and should be very beneficial to them.

Get some referrals and talk to a few different agents and work with one that knows the market, has experience and is someone you "click" with. A good agent that you like working with can make or save you alot of money.

Before getting my license I worked with an agent that worked hard for me and allowed me to acquire some nice deals to buy, fix and sell.

Good luck in your ventures.

I think I was thinking like they are the sellers agent so they are after as much money as they can get because they get paid by comission and I was weary they would hoodo me and maybe not tell me things id def want to know about the property im interested in. I was putting a realtor right beside a car salesman. They dont work for me they work for the other guy...trying to sell me the other guys stuff.

Used car salesperson??? Ouch! I'd like to think that all of the education and hours upon hours of training and classes that Keller Williams provides puts me in a different category than a car salesperson! For me personally, I put my client's needs above my own and do not think about the end result but what is in THEIR best interest.

@Account Closed Hi Pam, before I bought real estate I also didn't realize that there were two real estate agents in a lot of transactions, one for the seller and one for the buyer. You should find a buyer's agent to represent your interests. The seller's agent will split the commission with them, so you won't have to pay them yourself. Your agent won't be trying to push you to spend more than you want. S/he will be trying to get you the best deal possible within your budget. Also, asking you how much you want to spend is not the same as asking how much you have. You could have a million dollars but only want to spend $150,000. If you're not comfortable saying how much you want to spend, tell him/her a lesser amount and then you can always edge up from there.

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