Brokers asking for budgets!

[vataraboyinus]

Hi,

I have been searching for properties and would love to avoid brokers. Some brokers that I spoke with ask for budgets. It seems quite ridiculous to me!

I am willing to let them know my preferred areas, dimensions, direction preferences (such as east/north/south/west). I think this is sufficient to show properties. But some brokers, particularly some associates at these brokers' offices insist on knowing the budgets.

It is ridiculous to me, because for e.g. if 50 lacs is my budget, say for e.g., they will show me a 30 X 40 and quote 4000 psft, when the market price for this is 3000 psft!

I want to know if others face similar challenges/situations and how it can be overcome. Or, if I am wrong, how/what can be done?

Thanks, in advance.

[sudhirts]

Simple. Quote psft budget instead of total budget. I usually tell, if its 30X40 my budget is Rs X but if its 40X60 my budget is Rs Y etc..

[suglb6]

Yes, I have faced same thing. Its very ridiculous. If you are new to the area, its difficult to tell even PSFT rate.

[gbhasha]

I presume that they would like to show properties only which is matching to your budget. Even if they say or quote 2000 psft worth of property as 3000 psft property, It is our duty to do verity the market price from local or nearby residents. Dont always go with brokers price.

[msn1270]

Dear Friend,

Don't get irritated with such querries from them. It all depends on how you look at their querry. you can accept the same Q ina positive angle also.

Say, Within the same block, prices varies considerably between one end to the other end depending on accessiblity, common amenities, commericial activities, flatness of the area, middle or corner plot, 30ft road or 100 ft road...etc. Same way, your budget could be say x amount and that is undervalue or overvalue for your interested area.

For ex. if your budget is 50 lakhs and ask for a site in jayanagar 4th block, where the prices may be between 8000 to 10000 psft - it doesn't match. Same way if your budget psft is Rs.2500 which could be higher for a plot in BSK6th Stage or Sir M.V Lyt.

As bhasha said, ultimately you are the Right person to take the right decision based on your need and your ability, irrespective of their opinion. Be open to such Q's.

[PlotGuy]

Thanks msn1270, for speaking from a broker's perspective. In any event, why don't you tell us what the going rates are for BDA sites in BSK and Anjanapura BDA ?

[msn1270]

Dear Plotguy, thx for your feedback.

I've no idea about Anjanapura, as I never been to that area. Meanwhile In BSK 6th Stage, price ranges from Rs.1,500 to 2,300. FYI - These are the prices i'm observing in various ads by seller's and agents in online & paper Medias. I'm neither a broker nor a seller.

[prashet]

I agree. In fact, I was so irritated by a broker who kept on asking me about the budget. He had a very unprofessional and aggressive pitch as well. I just hung up.

The good brokers usually take time to show you some properties and then find out how you react. Based on that they find out your comfort level and then go for the budget. The usual answer I give them is that "the budget depends on the market. The market won't come down just because my budget is less. If a given property that I want, costs X amount, then does my budget matter?". Thus I end my discussions.