Property Investment Tips
Dealing with Real Estate Agents...
If you are buying property through real estate agents there are some basic principles that you can employ to maximise the end result of your efforts…
Why deal with a Real Estate Agent?
• They have the listings
• To minimise your own time input
• Access to their statistics
• Tap into their expertise
First Impressions Count
• Be on time
• Make the right first impression
• Dress accordingly
• Remember this is a business meeting
• Follow up afterwards
• Structure phone meetings in the same way
How to make sure an Agent will deal with you
• Differentiate yourself – what are the benefits of working with you?
• Respect the agent and their time
• Provide a clear brief of what you are seeking
• Give clear feedback
Help the Agent
• Be flexible
• Leverage their time wisely
• Do your homework – have questions ready
• Act promptly
• Place value on your own time
Help the Agent to deal with the Vendor
• Clarify vendor situation
• Empathise with vendor’s needs
• Be flexible regarding viewing times
• Support your offer with sound reasoning – key negotiation tools
• Be clear on non-negotiable items
• Talk about win/win outcomes
Help the Agent - Preparation is the Key
• Have pre-approved finance
• Accessibility – quick response
• Have your own home work station
• Educate yourself
• Make sure you dot i’s & cross your t’s
The Do’s and Don’ts of building Key Relationships with Agents
DO...
• Stay in touch
• Respect their time
• Show appreciation and be loyal
• Highlight previous successes
• Give recognition when it’s due
• Empathise with the real estate agent
DON’T…
• Abuse the real estate agent
• Assume you know everything already
• Deal directly with the vendor
• Ask the agent to cut their commission
• Send in low offers without qualification
• Let deals fall over – either renegotiate or explain
Making it all happen
• Be prepared and pre-approved
• Give your agent the tools/information to negotiate for you
• Use the vendors’ needs as negotiating tools
• Do what you say you are going to do
• Create a win/win situation
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