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Working with Estate Agents

Last post 01 Jul 2009, 7:10 AM by shubh. 4 replies.
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  •  29 Jun 2009, 12:56 PM 805740

    Working with Estate Agents

    We are new to property investment and would like to know the best way to approach estate agents to register for bmv properties.  We'd like to know the best way to approach them and how to talk to them in a way that they'll want to work with us.  We understand they can be tricky creatures and we'd appreciate any feedback/help as to how they'll pass on details of motivated sellers.  Any help welcome
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  •  29 Jun 2009, 1:29 PM 805778 in reply to 805740

    Re: Working with Estate Agents

    You may have missed the boat on this one.

    In normal times (which we haven't been experiencing lately) depending on EAs for bmv deals is not sustainable as they dont need you like they may have done in the bad times. Depending on what part of the country you are targeting, you may find that the FTB market is picking up nicely for EAs - and they are the types of properties that investors noramlly want.

    However, you asked how do you get them to work with you? You have to let them know what you can do for them - ie - buy properties extremely quickly - they you have to deluver your promise. I find you ge their attention better if yo have something to offer them in return. for me these are leads that i havbe generated via my own marketing which i have been unable to agree a suitable deal.

    Things like that make you stand out from the crowd of litereally dozens of local wanabee investors who just expect priority from agents withoug giving them something unique in return


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  •  29 Jun 2009, 2:17 PM 805852 in reply to 805740

    Re: Working with Estate Agents

    the problem with EA's is that you will be at the bottom of a long list of preferred people unless you have something unique, like buckets of cash

    also i have found that EA's reckon 10% off is a good deal..... hhmmm

    offer them something like leads as suggested, sellers that are motivated but won't accept your offer

    mind you in the current climate i find EA's are just as in the dark as i am on prices, there seems to be no pattern to valuations and sales, cheap stuff lingers, seemingly overpriced stuff sells

    my local EA has already said that anything he gets worthwhile he will pass to me as we can Joint venture it with him as a silent partner, still nothing....


    stay in the pink with ciggies and drink!
  •  29 Jun 2009, 2:38 PM 805898 in reply to 805852

    Re: Working with Estate Agents

    Yes we have found ourselves getting a lot of (useles) blurbs from agents who reckon 10% are good deals, and pricing seems to be all over the place as you say, which adds to the lack of clarity hence the question.  We assumed we may be at the bottom of a list of preferred investors, and this is very frustrating! 

    So the message I'm getting so far is that agents aren't that rewarding to work with!  While we dont pass on leads at present, I'm feeling that this angle will help, if we were to go into that.  Is this an essential or will the fact that we have a pot of cash to work with be enough once of course we have managed strike our first deal and 'proven' ourselves to the agent/s?

  •  01 Jul 2009, 7:10 AM 807188 in reply to 805740

    Re: Working with Estate Agents

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    Just visit real estate sites that list property of the type you are looking for investment. Place your requirements and let the brokers contact you.  Don’t express hurry to invest. You may opt for foreclosure properties also that are available at comparatively low price.


    legal foreclosure:.
    http://foreclosureworkouts.info/
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