From: Rixter ®
I'm sure you will all agree that within any barrel, you will always find a few bad apples. No matter what industry we are talking about. Unfortunately its this small minority group of individuals that usually attracts the publicity and gives an industry a bad name , and it is no different in the Real Estate Profession.
Fortunately for us as investors these individuals are few & far between but because we are out there dealing with them more than the average family owner/occupier home buyer our chances of coming up against them the risk is greatly increased.
So in order to keep ahead of these individual I thought it may be a very good idea if we could tell other investors here of any bad experiences or incidents they have had in dealing with these rogues and gives examples pertaining to their scams for us all to keep a watch out for.
I'll start off with an example of what I mean; one extremely common one that I came across just last week....
....It happened when I was out last time looking for a suitable property . I had just inspected a property and I told the agent I would get back & let him know if I required a further inspection. The agent then tried to turn up the heat by telling me he had a young couple he took through for the 2nd time yesterday and he would be calling them later that evening to arrange a suitable time for them to put their offer in writing. He then went on to say that if I didn't want to miss out I needed to get back to him before he made the call later that day.
But the agent made the mistake of trying to cast this sales tactic on the wrong type of buyer. He should of been using it on an owner/occupier purchaser who usually decides whether or not to buy using 90% emotions & 10% analytical...This agent was hoping to prey on the purchasers no.1 fear- That is the Fear of Missing Out!
But with Investor type buyers, as we all know, the decision to buy or not is usually made in reverse - that is 90% analytical 10% emotion.
Anyway I hope you all get the idea of what I mean & look forward to your own experiences in this area so we can all collectively learn, and keep well ahead by outsmarting these agents at their own game.
Happy Investing,
Rixter
I'm sure you will all agree that within any barrel, you will always find a few bad apples. No matter what industry we are talking about. Unfortunately its this small minority group of individuals that usually attracts the publicity and gives an industry a bad name , and it is no different in the Real Estate Profession.
Fortunately for us as investors these individuals are few & far between but because we are out there dealing with them more than the average family owner/occupier home buyer our chances of coming up against them the risk is greatly increased.
So in order to keep ahead of these individual I thought it may be a very good idea if we could tell other investors here of any bad experiences or incidents they have had in dealing with these rogues and gives examples pertaining to their scams for us all to keep a watch out for.
I'll start off with an example of what I mean; one extremely common one that I came across just last week....
....It happened when I was out last time looking for a suitable property . I had just inspected a property and I told the agent I would get back & let him know if I required a further inspection. The agent then tried to turn up the heat by telling me he had a young couple he took through for the 2nd time yesterday and he would be calling them later that evening to arrange a suitable time for them to put their offer in writing. He then went on to say that if I didn't want to miss out I needed to get back to him before he made the call later that day.
But the agent made the mistake of trying to cast this sales tactic on the wrong type of buyer. He should of been using it on an owner/occupier purchaser who usually decides whether or not to buy using 90% emotions & 10% analytical...This agent was hoping to prey on the purchasers no.1 fear- That is the Fear of Missing Out!
But with Investor type buyers, as we all know, the decision to buy or not is usually made in reverse - that is 90% analytical 10% emotion.
Anyway I hope you all get the idea of what I mean & look forward to your own experiences in this area so we can all collectively learn, and keep well ahead by outsmarting these agents at their own game.
Happy Investing,
Rixter
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