You are ready to move into a luxury home in Park City and you want to make sure you tell your agent everything. But, is it a good idea to divulge every thought, idea and top price you are willing to pay for your new home?
It’s not that you can’t trust your agent. Top agents have ethics, however, you might want to keep how high you will go a secret. The agent might not even want to know.
Knowing your high price can compromise the objectivity of some agents. You want your agent to have conviction on the lower side of the price tag and not be biased by thinking you can do better or go higher.
Look at it from the other side as well. The listing agent can often wrangle out of buyers’ agents how much higher their buyers will go, or read subtle clues in body language while talking that tell them, “this buyer will go up.”
It is just better to keep this knowledge to yourself, and if a particular home comes along that happens to be on the higher side, and it is the perfect home, then you might still be able to wrestle the price down a bit.