Becoming friends/friendly with a REA??

[fatboy4]

I have been a REA for 4.5 years. Previously, I was a teacher (15yrs) and had invested in property as soon as I started work in '89.

I have seen plenty of unethical practices and acts in my time in RE and there are some (consistently) unscrupulous agents.

Equally there are some very, very reputable agents (eg my boss) who genuinely try to help and who are honest, hardworking agents.

These people have usually been around for a long time 10+ years and have a loyal client base and get plenty of referrals. They believe in property and often are successful investors themselves.

There is obviously a big turnover in sales staff in the industry. Many agents won't have found their feet yet and may think they have to act in a certain way in order to get sales. They may be under pressure to "perform." They may not have the knowledge that comes from an interest in property (eg investing and or developing) and from experience.

I really believe that they agents who are full of "sheet" get found out eventually and often leave the industry or the area in which they operate.

I agree with comments about talking to agents. Find one with whom you feel comfortable, one who will do a bit of work for you, and who can verify what they are saying.

There is no doubt that you will benefit from having a good relationship with an agent(s). They can help you with knowledge/information and might even call you first with an investment opportunity.

Actually I just so happen have a "HOT BUY" for you...

 

[Property Meister]

I have been a REA for 4.5 years. Previously, I was a teacher (15yrs) and had invested in property as soon as I started work in '89.

I have seen plenty of unethical practices and acts in my time in RE and there are some (consistently) unscrupulous agents.

Equally there are some very, very reputable agents (eg my boss) who genuinely try to help and who are honest, hardworking agents.

These people have usually been around for a long time 10+ years and have a loyal client base and get plenty of referrals. They believe in property and often are successful investors themselves.

There is obviously a big turnover in sales staff in the industry. Many agents won't have found their feet yet and may think they have to act in a certain way in order to get sales. They may be under pressure to "perform." They may not have the knowledge that comes from an interest in property (eg investing and or developing) and from experience.

I really believe that they agents who are full of "sheet" get found out eventually and often leave the industry or the area in which they operate.

I agree with comments about talking to agents. Find one with whom you feel comfortable, one who will do a bit of work for you, and who can verify what they are saying.

There is no doubt that you will benefit from having a good relationship with an agent(s). They can help you with knowledge/information and might even call you first with an investment opportunity.

Actually I just so happen have a "HOT BUY" for you...

Great Post!!

I think I was making the mistake of thinking that I needed to become best chums with ONE partiucular agent,

Based on what ive read here, everytime I decide to buy one, I;ll talk to a few of them and then explain my situation, and I won't AIM to become best friends with them, just take it on a case by case situation where I can see what Info they can give to me

 

[Piston Broke]

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.

Actually I dont.
While others (like you obviously) talk about irrelevant garbage, I do business and build real long lasting relationships based on politeness, honesty and professionalism.
I'm happy to miss out on spending hours of my life talking to phoney REAs and others using a similar approach to sell anything.
I've done many deals for hundreds of K's on a handshake, and none of them
That's one of the reasons my life has MUCH joy and happiness.

 

[BayView]

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?

This is sort of true.

I worked in r/e for a short time (hated it) and have mostly worked in golf apart from this - lots and lots and lots of selling and dealing with people.

As a salesman you get to be able to pick up on a tyre-kicker very quickly after a while, so you end up being polite to them, help them out, but you blow them off as fast as is politely possible.

Having said that, if you are in a position for the long term - say, the Principal of a r/e agency, or the Head Club Pro at a Golf Club, where you have a reputation and an ongoing business to protect and grow, then your thinking is longer term, and you try to always keep these tyre-kickers in your pocket for a future time. It's annoying to have to deal with them, but that's the territory.

I still bump into golfers I met 25 years ago in another life and place. It pays to be everyone's friend, and be sincere at the same time. Not always easy.

You just never know when they might suddenly become a legitimate customer. The best r/e agents are very good at this. They are usually very active in the community and known by everyone - they are long term thinkers and can put up with the tyre-kickers to build the relationship and trust.

One of our local r/e agents sold us our current PPoR in 2000. He has now gone on to own his own very successful agency in the town. His agency manages our PPoR (it is tenanted).

I haven't bought or sold any properties from him since then (we bought our block directly from our neighbor). I drop in and say gidday to him at regular intervals, get a feel of the market etc.

He always gives me his time, is friendly and obliging. He knows that currently I am a tyre-kicker, and generally wasting his time, but he knows that someday I might be a customer again.

At the end of next year we will sell our PPoR, and it is him who I will be using.

 

[Y33]

One part missing is the location. If you are investing in the same location or live in a smaller place then by all means become friends with senior RE's or the directors but do it the right way. Find common ground interests or ways to help each other and build a real friendship. I know the directors of a few of the agencies where I invest and often get emails about things that are going to happen in advance. Have never felt any pressure to buy and get invited to social events etc when in town. Like wise I also invite them out for dinner along with my conveyancer and bank/lending manager when in town.