We are looking for another investment property but the first questions agents in the area we are looking seem to ask is "is the property for investment?" They are very adamant on this issue. One went so far as to tell us he wouldn't show us properties in a particular estate as the developer doesn't want investors in there. Is anyone else finding this is happening?
Investor Or Private Buyer
- Thread starter COOPS
- Start date
Well the developer sounds as though he's the foolish one here! Why should he care who he sells his properties to? I'm still scratching my head on that one....
When agents ask me I usually tell them that yes, I am buying it for investment purposes. After all, an offer is still an offer, regardless of where it comes from and most agents are only after their part of the pie anyway. If the agent has a particular bias against investors, then he's in the wrong business!
I have heard, however, of certain areas within suburbs which are tightly held by owner occupiers who want nothing to mess up their beautiful streetscapes, especially grotty tenants who care nothing for lawns and fertiliser
Perhaps local agents in these areas are anxious to keep the "peace" in order not to risk losing future fat, profitable listings? Who knows?
But, whatever the case, in these circumstances, fib and say that you haven't yet decided whether or not you're going to first live in it and renovate or rent it out and then decide. Depending on the look on the agent's face you should be able to swing it. Happy hunting!
When agents ask me I usually tell them that yes, I am buying it for investment purposes. After all, an offer is still an offer, regardless of where it comes from and most agents are only after their part of the pie anyway. If the agent has a particular bias against investors, then he's in the wrong business!
I have heard, however, of certain areas within suburbs which are tightly held by owner occupiers who want nothing to mess up their beautiful streetscapes, especially grotty tenants who care nothing for lawns and fertiliser
Perhaps local agents in these areas are anxious to keep the "peace" in order not to risk losing future fat, profitable listings? Who knows?
But, whatever the case, in these circumstances, fib and say that you haven't yet decided whether or not you're going to first live in it and renovate or rent it out and then decide. Depending on the look on the agent's face you should be able to swing it. Happy hunting!
I always ask ppl whether they are investors or owner occupiers...
It helps me give them the information they want. If they are owner occupiers, then there's no point me boring them with rates of return, and vacancy rates, and land value, and the like...
If they are investors, then I like to know that so that I don't leave information out...
I don't really care whether it's an investor I'm facilitating the sale to, or an owner occupier. I just don't want to waste ppl's time giving them information they don't necessarilly want.
Jacque, if you read Coop's post, he said the DEVELOPER didn't want investors, not the AGENT... I don't agree with this, but I have heard developers say that they'd rather sell to owners, due to the perception that tenants won't keep the gardens, etc, as nicely as owners will, and this will affect the look of the developement as other properties are being sold.
hope this helps...
asy
It helps me give them the information they want. If they are owner occupiers, then there's no point me boring them with rates of return, and vacancy rates, and land value, and the like...
If they are investors, then I like to know that so that I don't leave information out...
I don't really care whether it's an investor I'm facilitating the sale to, or an owner occupier. I just don't want to waste ppl's time giving them information they don't necessarilly want.
Jacque, if you read Coop's post, he said the DEVELOPER didn't want investors, not the AGENT...
I don't agree with this, but I have heard developers say that they'd rather sell to owners, due to the perception that tenants won't keep the gardens, etc, as nicely as owners will, and this will affect the look of the developement as other properties are being sold.hope this helps...
asy
