Why Buyers Must Learn To Deal With Pressure Tactics

“This is the last such home left for sale. If you do not book this property now, you may miss the chance forever.”

“This offer is valid only for another 10 days. You will have to do the booking right now.”

“It is only for you that we are offering this price. We have others willing to pay a higher amount for the unit. We are willing to take a cut because we like you.”

“For a great property, money should not be a concern.”

“In this budget, this is the best you can buy.”

Et cetera.

All those people who have at any point in their lives gone for a site visit to find an ideal property must have etched in their memories the above-mentioned statements. The property brokers would just not shut up about the many merits of every property they make you visit. You will also be hammered with the knowledge that each of those properties is highly desired and may soon be off the shelf. Some of us really succumb to such pressure tactics.

In all walks of life, the fear of missing out (fomo) on a bright prospect is intense enough to make us do things that we later might not be proud of; property buying is no exception. In case you are at a stage where you may be susceptible to making the same mistake – that is to say, if you are going to buy your first property and do not really have prior experience in dealing with the sellers and brokers and all that is typical of them – we would like to bring to your attention certain facts.

Where is the lack of options?

We live in times when all we hear about is infrastructure development, residential real estate included. We have plenty of options to pick from at any location, in any configuration and in any budget — data available with Proptiger.com show real estate developers are sitting on huge inventory stock in nine major cities of the country.

In light of this fact, it would be a mistake to hurry up to book a unit only because your broker/seller tells you that this is the last such unit left in a particular project/location/budget. Even if their statement is partially true (chances of it being fully true are negligible), you would always find another one, most probably a better one.

Is the offer really worth it?

It would be great to get some sort of discount on your property purchase. However, let the idea of getting a cheaper deal not drive you to an extent where you overlook the other crucial aspects of the transaction. If the “right” property comes without a discount, it would be worth every penny spent on it.  Also, in the back of your mind, do consider that there might a reason why a particular property is being offered at a discount. Do not fall for discounts such as foreign trips or gold coins if you think you will have to make a compromise on the construction quality or the developer brand.

What is the hurry?

There is little room for well-thought-out decisions going wrong, or thoroughly worked out plans not working out. Hurriedly made decisions and quickly formed plans go that way. When sellers/brokers tell you that such and such unit will be off the market soon, they pressure you to make a decision quickly, leaving little time for you to consider all aspects pertaining to the transaction. It is at this juncture that you have to hold your own. Take your own sweet time to make your decision, and make your intentions known to the sellers/brokers. Despite the fact that work involved in home buying is quite tiring and testing, applying patience and acting with calmness with regard to the biggest investment of your life would be the best policy.

 Also read: Why Watching Property Markets Play Should Be Your Favourite Game