Becoming friends/friendly with a REA??

[Property Meister]

I have a question for the experts ,

a lot of you mention about becoming friendly with a real estate agent,

I find this very difficult to do,

mainly because they are sales people, they will basically do anything to line their pockets, I hear and read so many posts where REA's are saying the property market is as strong as ever blah blah when sometimes its not, (eg the FHO market going nuts at the moment etc )

Ive spoken to a few RE agents and most of them do the sales spiel. eg I said to one last week, I am looking for this and this with a budget of $400k, he said, oh you won't get anything for that price, (I was enquiring for one that was adverstised about $460k), when there are 3 advertised for $390k, and one was sold at auction for $360k. so all credibility went down the drain with this guy, becuase he has outright lied to me.

ive also seen a lot of people hear saying that they were speaking with their REA about their local market, and it seems that they have a good relationship with their REA, was wondering how do you get into this position, Ive even said that I was interested in 2-3 properties in the same suburb in the next 12 months, and that didn't seem to make much difference.

at the moment, I have been going by the number of ads on re.com.au, the prices, the changes in advertised prices, the time it takes to sell a property as a guide to the market in a particular suburb, do I need to even bother talking to a REA, to get a better feel for the local market or even the entire property market??

I mean its all about the $$$ for the REA. Not many people buy more then say 1 property in 12 months, so any potential buyer would all be the same. unless someone is going to buy 5 properties in 12 months, the REA may not jump at every opportunity

How do people get friendly with their REA so they might be informed asap about new deals etc??

 

[andrew_de_a]

Try talking to one until you find one you get a long with, its not that hard

 

[kissfan]

Hi PM.

Try and look at the RE agent first as a regular person, then as a RE agent.

Remember, your intention (reading between the lines of your post) is to get the agent onside to hopefully throw some good deals your way yet you are sceptical of them because of their job.

Like every profession, there will be some good and some not so good. Find a couple (of RE agents) you feel comfortable with and go from there.

Regards
Marty

 

[Perp]

I agree with the others; find one you connect with as a human being first, and the relationship naturally follows.

 

[see_change]

Have you never told a " Little White Lie " when you 've first met someone? Many people do. Many people in sales do , it's called marketing.( sorry ...)

Ignore it .

Many people have two persona's , Their work persona and the real one. Most agents will keep up their work persona when they first meet you .

Remember their name ( first name ) the next time you meet them , Say "Hi Joe , how's you day " and talk about anything except the property before you ask about the property . If someone else comes in who wants to talk to the agent while your chatting let them do that , let the agent take care of his business . It's easier to get info when no one else is there .

Don't expect the agent to be open and honest with you upfront . Their job is to represent the vendor , not you.

Cliff

 

[our obsession]

I see the human first.

All of us as human beings, we all have different talents, different personalities, different priorities, goals in life.

I cannot help but care deeply for people, network, be fascinated by, and respect "them".

That does not mean I am any more vulnerable to a "sell" than anyone else, for I have a stubborn coyte personality, with a finely tuned intuition too. I know what I want, do my homework/research and am reasonably street smart savvy.

The real estate agents I have had anything to do with have been so helpful, some I do know personally and their sense of integrity is one of the core values that I like so much about them.

That is not to say some people in some industries make poor choices of behaviour, but I concentrate on being the best I can be, that is the one known power and control I have.

Over my own values and behaviour.

 

[Property Meister]

I perfectly understand everyones view that REA are people. I also agree.

I also understand that its marketing, as the scene in The Simpsons, where Marge becomes a REA, the best customer is ANYONE, the best property for the cutstomer is the one thats for sale!

hey thats business!!! totally agree

but (ive never dealt with 2nd car sales people before) and they say that they are the least to be trusted, truth or not, if you went and spoke to one, you'd probably be ignoring most of whats coming out of their mouth..

would you become friendly with a carsales person for the longterm??? maybe you'd try to get along with them for 5 mins to see if you can take another $500 off!

 

[our obsession]

I hear you, you are following your own path and thoughts, I'm sure as people and investors, there are so many varying experiences, perceptions.

I should also add, my real estate people, car sales people are from regional cities and towns, there may well be a different action/interaction and flow of business.

The one car we did buy out of Melbourne, we actually dealt with a hell of a nice guy too, was no pressure, we felt we got a good deal. It was a few years ago, but it was a good experience.

I reckon you will figure it out, what is right for you.

 

[BayView]

In business, it is not imperative that you are "friends" with the people you do business with.

It is important that you can get on with people, and be friendly towards them, and be honest and display integrity.

Most people can learn to get on with people and be friendly, so there's a start to the business relationship.

If you connect at a more personal level then that is even better.

The real test is when it comes down to the transaction itself.

You can't control anyone else, but you can control yourself, and if you always act with integrity and honesty you'll be a winner eventually.

Finding out the other party is less than honest and/or has little integrity is very upsetting, and it has happened to me more often than I'd like.

So now; I'm always friendly and easy to get along with as possible, but never trusting.

 

[Piston Broke]

Well I think my time is as valuable as theirs.
Why spend it pretending to care about someone else's dog?

There's a difference between polite, professional, honest and fair, and a typical REA who talks about irrelevant sheet for 30mins.

What is there not to like about polite, professional, honest and fair?
Nothing that I can tell.

 

[Peter Parker]

Well I think my time is as valuable as theirs.
Why spend it pretending to care about someone else's dog?

There's a difference between polite, professional, honest and fair, and a typical REA who talks about irrelevant sheet for 30mins.

In that situation I'd hear them out.

If it's a choice between not listening to drivel for 30 min and buying a house from them that will make me $100k+ during its period of ownership, I'd gladly take the latter.

Indeed that half-hour could become the most financially rewarding half-hour ever, especially if another $10k came off the price Certainly far more lucrative than the equivalent time spent at work.

 

[Property Meister]

but, when I first joined this forum, I might have asked or someone may have said the best way to find out about a suburb for your due digiligence is to simply become best friends with the REA....

I sorta agree to this.

 

[our obsession]

Aaaargh, if it's due diligence you are after....for me, my perception is that is soley up to me, to gather, look, listen, learn, study and ask.

I am responsible for my DD, it is I that chooses to invest, whatever the area...I can gather "information" from different sources, perhaps different people, but keep it all in context.

Remember, the bottom line is thus:

You have your "job" to do...as does agents, and anyone else..

Just because a person is a real estate agent does not necessarily mean they have the information/knowledge or accuracy and perception of investing DD that you require.

Kind of like having questions about your health, or requirements that you may need from a medical doctor...in the end it is your body, your health, your wellbeing, your choice..

It does not follow that being best friends with anyone means that they have what you are looking for.

Only you can make your investing plan and decisions.

It is just my personal opinion, but my thought on the best way to do due diligence about an area is by me learning, from many angles, many sources, information from an agent is only a very small part of DD. And I am careful to politely listen, yes, thank them for their contribution, but I carefully way up information...including even, from this forum...

We are all on our own journeys. Yes, via an investment of property but vastly, vastly different and individual journeys.

No offence to anyone, I hope, and of course apply it to me!

 

[Smithy]

Are you being a friend?

but, when I first joined this forum, I might have asked or someone may have said the best way to find out about a suburb for your due digiligence is to simply become best friends with the REA....

I sorta agree to this.

Are you the sort of person some one would want to be best friends with? REA's are so highly refined when it comes to smelling bs that I'm guessing that you and your agenda could stand down wind and still register on the "Whiff O Meter".

As the great man once said "Do Unto Others as You Would Have Done Unto You", which comes around as- what is done to you, you have done to others. Get it?

 

[Property Meister]

Are you the sort of person some one would want to be best friends with?

whats this got to do with DD??

 

[Piston Broke]

In that situation I'd hear them out.
If it's a choice between not listening to drivel for 30 min and buying a house from them that will make me $100k+ during its period of ownership, I'd gladly take the latter.
Indeed that half-hour could become the most financially rewarding half-hour ever, especially if another $10k came off the price Certainly far more lucrative than the equivalent time spent at work.

What nonsense.
I dont have to (and never did) spend 30min listening to anything wanting to buy property.

 

[Nathan]

buy a 1/2 dozen properties off the same agent (try the principal of the office) and you genrally create rapport and trust and friendship (not being smart saying agent after your money, just it happens they think your a pro and you get looked after in the future)

 

[Property Meister]

buy a 1/2 dozen properties off the same agent (try the principal of the office) and you genrally create rapport and trust and friendship (not being smart saying agent after your money, just it happens they think your a pro and you get looked after in the future)

yes, this was part of my argument,

if you are going to buy 3+ in 12 months, then yes, any smart sales person would be banging on your door, but realistically, how many actually do this, not many average joe investors.. certainly not me

 

[Perp]

Well I think my time is as valuable as theirs.
Why spend it pretending to care about someone else's dog?

What nonsense.
I dont have to (and never did) spend 30min listening to anything wanting to buy property.

I suspect you miss out on a lot, both in business and in life. I'm saddened to hear that you find life such a miserable, joyless experience.

 

[see_change]

There's a difference between friendly and being Best Friends.

We probably spent more than thirty minutes looking around the last property we just bought . If we'd just gone in and then thought , this is something of real interest and then moved on without having several chats with the agent over this period , we wouldn't have got to the point where we found out that the Vendors ( executor's ) expectations for various reasons had shifted quite significantly from what we thought was only a slightly over inflated asking price.

Several groups came though during this period and had brief chats with the agent and didn't get the same info and then missed out on what I think will turn out to be by far our best buy todate.

If 30 mins can save me hundreds of thousands of dollar I'm happy.

Cliff