3 Mistakes Women Make When Buying Property

It’s a known fact and whether we like to admit it or not, the female of the species are definitely the more emotional of the two.

Unfortunately this often works to our disadvantage when it comes to buying property.

I see many instances where Miss Purchaser pays too much for a property or becomes so emotionally attached to an outcome that she lets her business brain take a back seat, which ends up costing her.

ALL BECAUSE HER NATURAL EMOTIONAL INSTINCTS KICKED IN AND GAVE HER GAME AWAY.

Whether you’re a first home buyer or an aggressive investor building your property portfolio, every purchase you make will somewhat differ in terms of the negotiation style and purchasing experience.

Maintaining a rational approach and being aware of what is often unconscious “tell tale” behaviour are crucial if you want to buy a property for the least amount possible.

During my many years of negotiating property contracts for both buyers and sellers, I have picked up on a number of patterns that women in particular tend to repeat when they buy property.

HERE ARE THE TOP 3:

WOMEN TALK TOO MUCH.

They walk through the property ooing and ahhing at every little detail and throwing comments here there and everywhere.

When ladies do this, they give away their negotiation power.  

What can we do instead?

Ladies, wear your poker face and rather than let your emotions speak freely about the property, prepare a pre-set list of qualifying questions that you can ask the salesperson.

You will appear much more in control and give the impression that you’re here to do business rather than on a housing shopping spree.

WOMEN PLACE FURNITURE.

What I mean by this is, if a woman likes a property, she will start mapping out how the furniture will sit in the property. 

Will the TV look best in this corner or against the far wall?

I’ll put my side table in that corner and face the sofa lounge out toward the patio.  This tells the sales agent that yes, you’re buying this one and quite possibly you’ve already made some level of emotional attachment to the property and will probably pay more for it.

WOMEN GET TOO ATTACHED TO AN OUTCOME.

It’s our way or the highway! We want what we want when we want it. Sound familiar?

Ladies, in a negotiation, you simply can’t take this approach.

Good negotiators create win / win situations where both parties bend and flex a little to reach a mutually satisfying outcome. The ladies I’ve seen take this approach are often the ones who never get back into the property market again because the whole experience for them was an emotional rollercoaster filled with turbulence that they never want to go through again.

In the long run, NOT investing costs them their dreams.

SO LADIES, HERE'S 3 TIPS TO KEEP IN MIND WHEN YOU'RE HOUSE HUNTING.

1. BE MINDFUL OF WHAT YOU SAY TO A SALESPERSON.

Remember, sales agents work for the seller, not you. They’re not obliged to do what’s best for you, no matter how nice they may seem.

2. IF YOU REALLY LIKE A PROPERTY, DON'T MAKE IT BLATANTLY OBVIOUS TO THE SALESPERSON. 

Tell the agent you’re interested at the right price but you have others you’re considering also. This will make you seem less attached to this particular property.

3. PROPERTIES ARE LIKE BUSES (or men :). THERE’S ALWAYS ANOTHER ONE AROUND THE CORNER.

If you miss out, another property WILL come available and sometimes losing a certain property can be a blessing in disguise for reasons you may not even know about.

Don’t get too attached to an outcome and keep your emotions in check as best you can, especially if you’re buying the dream home, when hiding emotions can be even trickier.

SO LADIES, CONSIDER THESE TIPS NEXT TIME YOU’RE BUYING PROPERTY AND YOU’LL CERTAINLY BE BETTER ARMED IN THE NEGOTIATION GAME, NOT TO MENTION YOU’LL PROBABLY HAVE A BETTER BUYING EXPERIENCE ALL-ROUND.

PropertyWendy RussellComment