Investors who are actively in the market to buy a property may be discouraged by real estate agents. An investor may be afraid of not knowing what to ask about a potential property. However, investors who are interested in a property should not be intimidated because they often hold power as a buyer.
A vulnerability wins on
It is commonly accepted that real estate investors must try to outsmart a real estate agent. The reason here is that sales agents hold all the power when it comes to entering into an agreement. However, this is not always the case.
If a real estate agent does his job well, he will simply want to know you and see how he can best help you. Their goal is not to buy a property you do not want at all costs; most reputable agents want to produce a win-win result.
So treat the agent as a human being and tell him what you want to know about a potential investment property.
Being vulnerable and admitting that you do not know everything, and that you have prepared questions to ask, this means that you can appear as really interested in the property and that you will be treated with respect.
5 crucial questions to ask
As an investor, it is your responsibility to research the real estate market and the real estate you want to buy. After all, your time and money are at stake here.
Julia Ewert, trading expert, founder of Julia Ewert Consulting and with 20 years of experience in the areas of sales, management, corporate training and operations in sectors such as consumer goods, telecommunications and investments in real estate investments. 5 crucial questions to ask the sales agents who can find you the best real estate investment at the lowest possible price:
Why is this property for sale?
The answer to this question will help to better understand the motivation of the seller. Have they already bought elsewhere? If that's the case, they will probably want a quick sale. Do they have trouble making mortgage payments? This being the case, this can give you an idea as to whether they will hold at the highest price or whether they will accept something lower for a quick and easy way out.
How long has the property been on the market and why is this property not yet sold?
These two questions go hand in hand. If the property is on the market for several months and you are asking the second question to the agent, you may discover information such as the seller's price expectations or any problem with the property that makes it harder to sell or some complicated requirements regarding block, or building structure.
Do you agree with the price fixed by the seller?
Observe the body language of the agent when you ask this question. Look for any hesitation; visual clipping or uncomfortable gear change.
You test here if the price of the property is correct. If the agent thinks otherwise, he can give you an idea of ??any discrepancy between his opinion and that of the seller. If they believe that the price is right, they will probably answer without hesitation, with confidence and enthusiasm. They can also provide market information to support their opinion.
If you notice a gap in the price forecast, it may help you get a better idea of ??the real value of the property. After all, the property is only worth what someone is willing to pay.
What are the poorer features of the property?
The agents are intended to provide you with the best points of the property and will be happy to explain to you all the reasons why its value is as indicated. By asking this question, you can get them to tell you something, because it would be unrealistic to answer with "there is no bad aspect at all".
What kind of payment terms does the seller search for?
Knowing if sellers are looking for a 5-month or 50-day settlement can change the strength of your offer. If the seller is looking for the fastest possible settlement period, a cheaper offer with a quick settlement may motivate him to accept. If they are looking for a longer settlement period, the price of your offer may not be the main motivator of the sellers. They may be more interested in a reasonable offer to stay in the property longer.
There is nothing wrong with showing your vulnerability to Realtors. In fact, they do not expect you to walk in an open house and learn more about them about the market or the property. So, participate in the Open House as a human being and try to make contacts with the agent. After all, they could become your best asset to help you find your ideal property investment.
Top suburbs:
Goulburn
,
Scarborough
,
balga
,
Mt Lawley
,
Artarmon
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