Although the US housing market isn’t as hot as it was in 2021 – when mortgage rates fell to record low – real estate prices still have a few irons in the fire.

The median sale price of an existing home in the United States last August was $416,700, an increase of 3.1% from the previous year, according to the National Association of Realtors (NAR).

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It’s not the worst market to buy a house in, however. Mortgage rates are gradually falling and are expected to fall further in the coming months as the Federal Reserve makes further interest rate cuts.

Additionally, housing stock is finally improving. In August, there was a 4.2-month supply of homes available on the market, up 22.7% from a year earlier, according to the NAR.

If you’re in the market for a new home, know that teaming up with the right real estate agent could make the process much smoother. But it’s important to temper your relationship with them accordingly, and that means knowing what information to keep quiet.

Here are three things you should never say to a real estate agent when buying a house — and what to do instead.

1. What your salary and savings look like

Do you know the unwritten rule of asking someone how much they make? Well, with real estate agents, all you need to disclose is the budget you’re working with. If you don’t share this, they won’t be able to help you find a house in your price range.

While it’s important to tell your agent your budget, you don’t need to disclose your income or savings. It’s simply best to keep these details to yourself. Real estate agents make money by selling homes or helping buyers buy homes. So, the higher the price of your home, the higher the commission your agent receives.

As a general rule, it’s most efficient to keep your monthly housing expenses to 30% of your income or less. This should ideally include your property taxes, home insurance and other recurring expenses.

You may decide to limit your housing costs to an even lower percentage of your income. You may want to set a maximum budget of $300,000 when you can easily afford $600,000 depending on your income and savings. If your real estate agent is aware of these numbers, they might push you to buy a more expensive home or only show you homes at the upper end of your budget.

The only relevant party who needs to know what your savings look like is your mortgage lender. They will need this information to approve you for a loan.

At the same time, make sure the budget you share with your real estate agent is realistic. If you can only afford a $250,000 home, stick to that limit. Not only will this waste your real estate agent’s time, it will waste your time if you continue to view homes outside of your budget.

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2. You are also looking for accommodation on your own

Working with a real estate agent is a great way to identify homes that are right for you in your price range. But you don’t have to sit and wait for your agent to show you listings. There’s nothing wrong with looking at homes in your area or exploring open houses.

Still, you might want to stay quiet about how much work you do yourself. Your real estate agent won’t get paid unless they show you a house that you end up buying. So if you tell them you’re also looking on your own, they may be less likely to find you the perfect property.

If you feel that your real estate agent is not showing you properties that meet your criteria, say so. But be polite and open about it. It may simply be that your agent has limited inventory work in your area. But your real estate agent may also be trying to keep things light and easy. If that’s the opposite of what you want, connect them so they know how to best meet your needs.

3. You are in love with a house you just saw

The sooner your agent finds you a home to make an offer on, the sooner your agent can collect their commission and move on to new clients. So if you see a house you like, you may want to contain your excitement.

If your real estate agent knows you’re in love with a particular home, they may push you to buy it. Additionally, if they have a relationship with the seller’s agent, they can make them aware of your interest and encourage the seller not to lower the asking price.

If you find your dream house, be cool. Tell your agent you’d like to make an offer, present a number you’re comfortable with, and see what happens. You may find that the negotiations work out better in your favor.

That said, this assumes you’re not looking at a multiple offer situation. If there’s a house you fall in love with that’s priced right and has multiple offers – and it’s a house worth fighting for – then you’ll need to be honest with your agent so that he can do his best to win the auction.

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This article provides information only and should not be considered advice. It is provided without warranty of any kind.