Property Investing Secrets 5

Property Investing Secrets:

How To Work With Agents And Get What You Want

When you're property investing, it is important to know how to connect with real estate agents. Here are some techniques you can use when you are out there pressing the flesh. I believe it is important to connect with agents at lease once in person when you're property investing.

I've found that when you walk into a real estate agents office and say "I'm looking for a bargain."- that's a big mistake. When you're property investing, the minute a real estate agent hears that you want a bargain; they size you up and think this person isn't serious-they're a flake. Keep this is in mind, to a real estate agent there is no such thing as a bargain. But it is possibile to buy at a wholesale price. If you're going to form a relationship with an agent they have to know you're serious because these agents get hundreds and hundreds of buyers every month or every 6 months, depending how busy they are, coming into their office. Thus real estate agents must know how to size up buyers. They know how to qualify buyers without the buyers even realizing they're being qualified! Real estate agents question buyers and the answers they hear tell them how serious the buyers are about purchasing.

When you're out property investing, here are some common questions a real estate agent will ask: "Hello Mr. and Mrs. Buyer, are you buying, selling or looking?" And if they say, "Oh, we're just looking." The agent will ask, "How many properties have you looked at so far?" The buyers may respond that they've looked at a couple of properties. The agent will ask if they made an offer on any of the properties they've looked at. If the buyers answer no, the agent will inquire why not? This line of questioning just rolls off the agent's tongue. The buyers get bamboozled. They don't even know that they're being qualified. And if the agent decides the buyer is too difficult, they will put them into the "too hard basket".

It is important to note that an agent has one commodity to sell and that is not houses but their time. I discovered this early while property investing. If a real estate agent has only 8 or 9 hours in the day, they want to get the best return on their time. So it is up to the investor to make it easy for the agent to make their money. Of course an agent will say they work for the seller, but the agents also have wives and kids sitting at home to feed. While the agent may say they're working for the seller, quite often they're working for themselves and you have to harness the agent's desire to make a sale and use it for yourself to get-not steal-but secure a discount to purchase the property.

Rick Otton is the director of We Buy Houses Pty Ltd. He has been property investing full time for 14 years. Rick has completed over 351 property transactions in Australia and the United States.

Rick specialises in creating positive cash flow through a variety of strategies he perfected in the United States and adapted to Australian conditions. He sells home study courses on vendor finance, one year mentoring program as well as a yearly 3 day boot camp on the Gold Coast. Go to http://www.rickotton.com for more property investing information ring 1800 003 588 in Australia.

In The News:

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Real estate sector hopes for faster transmission and even sharper cuts  The Financial ExpressDevelopers, however, believe that for any pick-up in consumer demand, banks have to bring down rates swiftly.
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The FBI Raid Of Texas Real Estate Investor Nate Paul  ForbesThis week, agents from the Federal Bureau of Investigation descended unannounced on the home and business of Nate Paul, a young Texas real estate ...
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Lakewood home sales and other real estate transactions  cleveland.comFind the latest home sales and other property transfers for Lakewood, Ohio.
India's real estate potential shines through | India  Gulf NewsThe country's growing economy and stable government is attracting NRIs to buy property.
As Real Estate Firms Go Bust, Supreme Court Upholds Homebuyers' Rights  NDTV NewsThe Supreme Court upheld the ability of homebuyers to drag property developers into bankruptcy proceedings as several real estate firms are going bust in ...
National real estate meet on August 24-25  The HinduA two-day real estate event — 11th National Association of Realtors (NAR) India Convention and Expo — will be held on August 24-25 at the HICC, Madhapur, ...
Embassy may call off stake-purchase deal with Indiabulls Real Estate  Business StandardThe proposed stake-purchase deal between Embassy Property Developments and Indiabulls Real Estate (IBREL) may be called off, it is learnt. According to the ...
ET View: Real estate regulators must do their job  Economic TimesThe Supreme Court's cancellation of the registration of real estate major is being touted as a relief for home buyers.
Opinion | Redefinition of affordable housing, GST rate cut can boost real estate  LivemintUnder GST rules, sale of a ready-to-move-in residential or commercial property is not considered a supply of a good or *service*.
Indian residential real estate sees slow rise in home prices - ​Property prices have fallen only slightly  Economic TimesSlack demand, huge inventories and stringent regulations have kept home prices low across major Indian cities, says the latest report for the first half of 2019 by ...
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Real estate trust owner gets 51 months for Ponzi scheme  delawarebusinessnow.comCarl Chen, the owner of Chenmax Properties, Inc., a Delaware Real Estate Investment Trust, and part-owner of Re/Max Sunvest Realty Co., was sentenced ...
CapitaLand looks to foray into residential and retail real estate  Business StandardSingapore-based investor CapitaLand is looking into entering residential and retail real estate in this country, a senior executive said. It had recently acquired ...
Millenials changing real estate consumption pattern in India: Prashant Thakur, Anarock Research  Economic TimesConsumption of residential real estate would see a distinct change, with players coming in buying bulk inventory and putting it in a co-living model. That way, the ...
Real estate says rate cut welcome, but not good enough to boost housing  The Financial ExpressReal estate needed a deeper rate cut to make a significant difference to both the mid-income and affordable housing segments.
Stock market update: Realty shares up; Indiabulls Real Estate jumps 5%  Economic TimesThe Nifty Realty index was trading 0.97 per cent up at 266.05 around 10:15 am.
New residential real estate likely to come with cheaper price tags  Business StandardRead more about New residential real estate likely to come with cheaper price tags on Business Standard. If recent deals are anything to go by, land prices ...
Stocks in the news: HDFC Life, Grasim, Indiabulls Real Estate, Future Retail and Coal India  Economic TimesNEW DELHI: Nifty futures on the Singapore Exchange were trading 13.50 points, or 0.12 per cent, higher at 10,934, indicating a positive start for Dalal Street.
Indian real estate cos should partner with Israeli counterparts: Benjamin Netanyahu  MoneycontrolIsraeli Prime Minister Benjamin Netanyahu on August 6 asked Indian real estate developers to partner with Israeli counterparts to boost productivity and ...
Unending woes of real estate  Mumbai MirrorA raft of reformist government measures and an SC verdict have made the industry's travails worse.
Eyeing Greenland, Trump Again Mixes Real Estate With Diplomacy  The New York TimesWASHINGTON — Go ahead and file this one under Stories You Probably Didn't Expect to Read About the White House This Week: President Trump has been ...
To invest or not to invest in Dubai residential real estate  AMEinfoEveryone is a pundit when it comes to real estate, everyone has an opinion, and for some reason most opinions are that when home prices are reducing it's an ...

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