Real estate agents represent property sellers, so when you’re a buyer, you need to figure out how to get them working for you instead. If you can pull it off, it can pay big dividends and save you years and hundreds of thousands of dollars in your investment journey.
The good news is that when it all comes down to it, agents are really working for themselves and many just want to make a deal as efficiently as possible, get their commission and then move onto the next one.
Make someone else’s agent your best mate
At first, you might be tempted to regard them as the opposition, but it’s much more lucrative to treat an agent like a friend. In a buyer’s market, agents will be helpful. They will show properties after hours, answer all your emails and calls and work overtime to land a deal, because in that kind of market, a buyer has plenty of other options.
It’s a different story in a seller’s market. Agents don’t need to drum up interest. They are far less likely to reply to your emails asking about alternative times to view a property when they already have five genuine offers above the original asking price.
This does not mean you won’t be able to secure a good property in such a market; it just means that it’s up to you to make a good impression on the agent.
Stick in their minds for the right reason
Get yourself on an agent’s radar so they think of you when a certain property is coming to market. You want to make sure they remember you for being easy to deal with rather than a massive pain. Don’t be the annoying buyer that has to see every property 10 times, or needs to have the whole family come and inspect, along with Uncle Doug who “reckons he knows a bit about the market”.
Instead, contact the agent’s office and ask to be on their buyer database. Identify clearly what you are looking for, as well as your price range and let them know that you are ready to make unconditional deals for the properties on your wishlist.
Make sure your finance is approved and you have researched properties and markets in advance so you are ready at any time to jump on a deal. Presenting the agent with the path of least resistance can work in your favour time and again.
Outsource your legwork
Engaging a buyer’s agent is a great way to tap into years of relationship building and market research without having to do it yourself. No one has been at it longer than b Invested founder Nathan Birch, who has built a portfolio of more than 220 properties over a couple of decades, all over the country and in all types of markets.
Along the way he has learned all the necessary lessons first hand. He is in contact with many agents and has access to countless deals that regular buyers will never even know existed. Often, if agents are looking for a quick sale and need a genuine buyer, they go straight to Nathan. By engaging b Invested, you will be able to buy properties for below market value, with good upside for growth and strong cashflow…and that’s the key to success as an investor.