How do you know which ‘property experts’ you can trust?
There are a lot of property experts out there – but how do you know who to trust?
While many people make big claims about what they can help you achieve, they don’t have much real world experience to back themselves up.
Nathan Birch is a property investor and buyer’s agent with a strong track record. He says he comes across countless “property experts” who have only been in the investing game for five years or so.
Their success, says Nathan, has a lot to do with luck.
Why five years is not enough.
Those who have been investing for five years have only ever experienced the effects of one property market. They have ridden the boom and displayed their riches for all to see.
They haven’t felt the effect of a recession. They haven’t been there during the bad times and they haven’t experienced a backwards market.
So, it’s all fine and well for them to boast about their success during a period of price growth. But, it wasn’t so much skill as it was timing that led to this success.
15 years and growing.
Nathan, on the other hand, has been investing for almost 15 years. He has been through two property markets and is about to go through a third.
He quit his job during the GFC to pursue investing on a full-time basis. He has been there when prices were dropping and rising; when the finance industry was flexible and tight.
He has built a portfolio of more than 200 properties since the age of 18 – and he’s still going.
There aren’t many property investors in Australia who can say that they have done these things.
His track record stacks up.
Nathan has been a part of more than 10,000 real estate transactions over the last 15 years.
He has helped thousands of clients build large portfolios.
He has also spent countless hours researching the economy and the underlying monetary system. He understands how the system works and how it directly correlates with property investing and the property market.
These things have enabled Nathan to grow and change with every economic season.
He says, if you are unsure of whether to follow the advice of a property expert, you should look at their track record.
“There are a lot of people out there that are trying to spruik their wares,” he says, “but they have to do it with glamour.”
Nathan, on the other hand, simply tells it as it is.
He doesn’t feel the need to wine and dine clients or offer them free seminars to get their business. He doesn’t have to dress up what he is offering because he has a solid track record that is there for all to see.
Warning signs of short-term “property experts”.
So, how do you know if you can trust an expert? Here are some things that may indicate if the person has only been investing over a short period of time.
- They use generic images of properties on their advertisements with the claim “This is what you could achieve.” – Look for real examples and case studies of those who have become successful under their guidance.
- They offer free seminars, airfares, etc. or take you to expensive restaurants – See past the image they are trying to sell you and focus on the facts.
- They make big claims about how prices will keep going up – Ask them to back up these claims with some solid evidence.
- They don’t take questions from audience members during their talks – You should look for someone who doesn’t shy away from the big issues.
It’s great to interrogate.
Nathan has always been a fan of asking questions. If you don’t know whether to trust an expert, throw some of these at them:
- How many clients have you achieved this level of success for?
- How can you help me achieve this?
- What do you base these claims on?
- What is your tenure in the market?
- How long have you actively been investing for?
- What were you doing before this?
- What do you see happening in the marketplace moving forward?
Ask yourself some questions too.
If you still aren’t sure, it helps to ask yourself the following:
- How realistic is what they are saying?
- Can it be backed up by logic?
- Have they shared any knowledge of how they will help me get there?
- Do I have confidence in them being able to lead me to success?
- What do I base this on?
- Can I see clearly how I will get there?
Do you want to find out what makes us stand out from the crowd?
We’d love for you to put us through our paces and let us prove to you why we’re different to all the other ‘property experts ‘out there.
That’s why we invite you to join us for a no-obligation Discovery Session.