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If an oportunity presents it self and the figures add up don’t hesitate as it will be snapped up from underneath you. I used to sell realestate in townsville and I had a set of flats for sale that owner really needed to sell. They were underrented and in excellent condition and right on a golf course but no one wanted to buy them (this was just before the boom in the market). The would return around 13% gross if they were rented at market value. As I was in no position to buy them I tried to get my boss, sales manager or any other sales person to come and have a look at them to see if they wanted to buy them. As i was only quite new and quite young no one took me seriously, until (after a chat with my helpful father) I put a contract on them. The outcome was a positive cashflow property and instant equity. The funny thing is that after I had put a contract on them everyone wanted in on them. If I would have hesitated I might not be in the position I’m in today. [thumbsupanim]
It could work in your favour as you will have an agent working for you and not just the vendor. However make sure the agent is a good negotiator as the listing agent will only be getting half the commission he normally would. I personally like to deal directly with the listing agent as you are getting all information through one middle man and not 2. It all comes down to how much you trust the agent and if you know he’ll work hard for your best intersest or does he just have dollars signs in his eyes.
Cheers
Andrew
