Becoming an Inner circle member

[MMM]

Hi all,

It seems one of the keys to property investing (to get the best deals) is the old saying ;

"It's not what you know it's who you know"

Being offered to buy a property before it is listed is a postion you need to be in.

How is this done?

3M

 

[The Y-man]

Be good mates with the real estate agents?

The Y-man

 

[Television]

Well I'm not in a position to buy yet.. just educating myself for now.

However as times come closer and I identify what property type and what area I'm interested in I'll probably start calling up real estate agents letting them know I'm a motivated buyer, looking for a particular type of property etc. etc.

 

[alexlee]

Just because you don't get the 'unlisted' deals doesn't mean you can't make money from property. Don't get so paranoid that you're not getting the 'best dea' that you don't end up buying at all.

Even if it's not the best deal, an appreciating market will help you.

 

[Jacque]

Hi all,

It seems one of the keys to property investing (to get the best deals) is the old saying ;

"It's not what you know it's who you know"

Being offered to buy a property before it is listed is a postion you need to be in.

Not necessarily so. After all, consider it from the vendors point of view. If you are serious about achieving maximum price (as are 99% of sellers) you want to expose your property to the largest audience possible. Sure, there are silent listings occasionally and those sellers who wish to offload quickly with minimum advertising but these are few and far between. As Alex has suggested already, it's more about being able to identify the good buys (and sometimes underpriced properties) in the current market, rather than thinking something unlisted is some type of goldmine. You need to know your market and specifically.

Also don't make the mistake of thinking that you're obtaining a bargain because you can offer before a property hits the market. I've found that vendors have high expectations first up and it's not until their property has been on the market for 6+ weeks that their price expectations soften. We've had many calls in the latter stages when the listing agreements are expiring and the vendor is "reconsidering" earlier offers.

As to "who you know" it's all about being in the market constantly, networking and buying regularly. Don't think agents haven't heard the old "I'm a motivated buyer ready to go now" line as this basically applies to the large majority of buyers in the market.

 

[Ana]

It also helps if the agents see you as a potential repeat customer. Because a large number of the renovations we do are reno/sell, they see us around quite a bit. I think that what someone mentioned is the key, the more they see and speak with you, the better they get to know you and also most importantly they get to know what you are looking for and so are in a better position to let you know when something that fits the bill shows up.

Kind Regards, Ana Stankovic