Success in business and in life is about relationships. And while there is a ring of ‘greeting card’ sentiment around that statement, a quick scan through the good and tough times in your life will point to its truth.
For you as an investor, a real estate agent’s brief can span your business and personal life – it’s a privileged position that is built on honesty and understanding. First and foremost a relationship is two-way, our experience and insight is what we bring to the table and what we are keen to share. But let’s understand the dynamic at play.
A good agent gets the best result for their client – the vendor. A smart investor is trying to pay the least amount for the vendor’s property. Understanding those different but connected circumstances opens clear communication. Remember one day you, the investor, will be the vendor driving your agent to get the best price. The right price is what all parties are working towards.
A quick, no fuss sale is always the aim. The vendor is keen to realise the value of a property and move on. As an investor, being first and buying off-market, before the signs go up and the marketing starts offers you an edge.
It’s an advantage based on a professional relationship with your local agent. Building a rapport with an agent, giving them an understanding of your portfolio and goals, gives you a ‘partner’ in your future.
Vendors are looking for buyers, so be the first person an agent thinks of when a new listing comes in. A good agent also points to the potential a property can offer. Often Fisk & Nagle will take on properties that just haven’t sold elsewhere. Homes and units that have been poorly presented or need updating, with little or no street appeal, and have sat on the market getting tired.
A good relationship between agent and investor, opens up discussions around those properties – what’s needed to revitalise the property and turn it back out to the market for a quick profit? Maximising your return on investment. When it comes to starting that sort of a relationship with an agent, go with your gut feel.
In a community such as ours, good business starts with a rapport between the parties, one that respects the aims of everyone involved. Word of mouth counts for a lot here, so ask around or contact us today.
Reference material: Smart Property Investment