Hi all,
I’m having problems finding a good property to purchase. For example, I’ll do all my research and find a good property in a great area. All this is done on the net, as I’m not going to drive/fly to inspect every house I come accross. Nearly every time I would phone an agent to enquire about a property, it would either have already been sold, or (after clever questioning by me) have something seriously wrong with it.
Basically, my problem comes down to the fact that searching for a property to buy on the net is hopeless as all the good ones don’t get posted, are sold to someone the agent already knows, and, if they are posted on the net, they are sold within a day (or less).
Any suggestions would be much appreciated as I’m very frustrated[chill]
Thanks guys,
Arthur. K
Authur K,
These suggestions are all things that I have done previously….obviously some are easier than others and to work, need to get through your personal screening criteria, which you haven’t specified…
1. Get on every local agents ‘pre-approved’ buyers list.
2. Call up the owners direct. They aren’t some big scary beast – they are normal people usually cowering behind the REA’s facade.
3. Get in the car and have a drive around – what’s your specific resistance to doing this ??
4. Turn the computer off and get on your bike and go for a ride around a few neighbouring suburbs on a Sunday morning.
5. Widen your scope – why houses ??
6. Increase your budget – rise up out of the fierce competition.You’d probably be surprised to know that people successfully bought and sold real estate before the internet existed, and there are many props that are still not listed on the net.
It sounds like you’ve boxed yourself into a narrow band (net advertised residential houses on a modest budget) where there is probably the greatest competition.
Just because that’s where all the folks are hunting – doesn’t mean that is where all the best deals are.
Happy searching.
Cheers,
Dazzling
“No point having a cake if you can’t eat it.”
Dazzling,
How do I get on their “pre-approved buyers list”?
As for the other suggestions, I appreciate your effort, however:
1) I’m looking interstate atm,
2) I can buy something now, I don’t want to wait for a bigger budget. Besides, there is still plenty of competition for more expensive property and I don’t have millions (yet [biggrin]).If I was to take a trip to an area, I was thinking of leaving a business card in every mail box with my details and what I’m looking for in a certain price range.
What do you think?
Thanks again,
Arthur. K
I often look online to get a general picture and work out which area I want to buy in, but then I’ll put a day aside to actually go and look at some properties.
I start by calling some REA’s in advance and making appointments with them, one after the other. By the time I get to town, they’ve arranged for me to inspect all the properties they have that meet my criteria (not many of them are on the net). I might go through 15 or 20 in a day (always carrying my digital camera). You can literally find a property to buy in one day if you want to. But get off the computer to start with.
If crossing state borders is a problem for you, look for something in your own state. I, personally would think nothing of travelling to anywhere in the country to look at real estate if I was confident of getting a good deal.
I don’t think leaving a business card in every mail box in an area would be the best use of your time, although I haven’t tried that method so couldn’t say for sure.
ArthurK
I know exactly where you are coming from. I was once in your position getting more and more frustrated with each phone call to agents.
Have you considered using an agents buyer. It takes the stress away from yourself and they have the expertise and contacts to be notified of listings before they even reach the net. Yes, you pay a fee for this but I am more than happy knowing I can sleep at night whilst they do all my ground work. If you are interested in purchasing property in Vic I can recommend Metropole Properties. Check out their website http://www.metropole.com.au. or PM me for more info.
Regards
ShelleyHi,
There have been some excellent tips posted, but I have to say that if you can’t find any good properties on the net then look for other ways to find deals.
Really, there is no substitute for getting in the car and going for a drive as my experience is that not all deals actually make it onto the net and it’s amazing what agent’s will show you when you land in their office and they take you for a drive.
Cheers,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Thanks for all the tips guys. Much appreciated!
However, I still get the feeling some agents don’t want to sell me anything [cry] as I always make sure to let them know that I’m interested in buying something in the area in the near future. I always ask them to contact me (email, phone, fax) if anything comes up. Maybe I’m not specific enough in what I want, because I never hear from anyone. Apart from a mass mailout once in a blue moon.
For example, last week I phoned an agent in QLD whom I have spoken with before to find out if there was anything on the market. He described what sounded like a great investment. Naturally, I asked if he could email me some photo’s ( as I wasn’t going to sign on anything just based on the numbers. I wanted to at least get a picture of the place). He said “yes, thats sounds fair, I’ll get them to you. Just give me your contact details etc etc. By the way, I have given him my details already in previous conversations.
Haven’t heard from him since.I don’t know why they don’t take me seriously. They should. I’m going to buy something and will continue buying. They are just going to miss out on the comissions.
Thanks again for your help. Once again suggestions and advice are always much appreciated.
Arthur. K
Hey some agent are lazy.
A agent i know in Kalgoorlie sends out a invester list every couple of week via email. A lot of interstate buyers just look at the numbers & purchase unseen. How good for the agent!! Minimal work maximum return.
Maybe i should become a real estate agent?As most people say ,you now have to look harder for those deals. Many times I find that bargain on the net,ring up or go to look at it & its gone.
Increased competition, low interest rates & people like Margaret Lomas & our mate Steve Have informed the masses.
Keep at it.
w
I agree guzzi. Too many Australians have become “property investors”. Is this a new trend that will continue as more and more Australians become better informed, or will it fizz out and is just a result of the huge growth seen in recent years…I wonder…I bet the API magazine is doing well! Maybe I should buy some of it’s share[cigar].
Arthur. K
Hi Arthur,
Apologies in advance if some of my comments and/or questions seem a little harsh or if they are off the mark – they are not intended to be, just trying to help you overcome your frustration/s.
I wonder if you are coming across as a bit of a ‘tyre kicker’ when talking to agents. It is possible they sense this with your questions and/or do not believe you are serious about property investing.
Whether or not this is the case only the agent (and you) would know. It may be appropriate to ring one of those agents you have previously been in contact with, and with whom you felt you developed a rapport, a remind them of your earlier conversation. Remind them that you had previously discussed property X and that you identified a number of features (have these ready) that you were seeking in an IP. Then steer the conversation onto well what else do you have like this and you may find things develop a little more in your favour.
Now, I am not saying you should do all of the chasing and ringing, you shouldn’t but there does come a time for you to demonstrate you are serious (are you?).
It is possible that the distance between you and your preferred properties is causing some anxiety that is reflected in your questions and/or tone of voice.
Derek
[email protected]
0409 882 958
Property investment advice and researched property in quality locations available.as an agent the best deals i come across get offered to our loyal clients and the ones we have a relationship with. if you have problems with an agent it is because either they dont take you seriously or you have not built up a relationship with them. why not settle on one or two areas and deal with a few agents and tell them to call you as soon as something comes up. let them know you have finance in place and are ready to buy now as soon as something comes up if you start dropping cards or call the owners direct you might find that you are put on the blacklist by the agents
good luck bill
Hi Arthur,
Is it possible that alot of us investors or investors to be have this attitude that RE agents are a lazy bunch of pain in the but greedy losers, and that actually comes across to them?Is it also possible that they think we want everything for next to nothing and we waste their time with our (as they say) offensive offers?
You mentioned that you were “looking to buy in the near future”, well they want to hear “I’m looking to buy NOW”.
I suggest that you come across in attitude that you are wanting to help the agent offload some property, become their friend (so to speak), build report with them and before you know it they will be working for you to get a deal & not for the vendor trying to get the high price.
Regards,
SolomonSome great tips guys. Thanks! I’ll definately keep them in mind next time I come in contact with an agent.
No appology necessary Derek, I appreciate your comments. To answer your question ( and I know what type of person you are thinking of), no I’m not a “tyre-kicker” nor am I a “gonna” etc. I value my time and consider my investing goals a top priority ( if not number 1).
I could perhaps work on my attitude, but I don’t want to seem desperate. I don’t like playing games either and can see through any tactic the agents try to use when speaking to me. They really do take ppl for fools.
I’m 22yrs old ( don’t look young or anything)and when I walk into an angents office they always think I’m looking to rent. Perhaps I should ware a suit, but then thats going against Steve’s advice. All this trouble, all I want to do is buy an IP.
I know it sounds like I’m a negative person and hate agents. It’s not like that at all though. Just had some bad experiences.
Cheers,
Arthur.K
Hi There
Great feedback i was getting the same poblems.
Cheers
R
http://www.imperator.com.au. Imperator Financial is Australia’s most comprehensive consumer financial information and financial planner referral service.
ArthurK,
In my experience visiting an area, particularly interstate, is half the fun. I usually set aside longer than a day so I can really get a feel for an area. Great way to get to kbnow the country.
Cheers,
Anne.
Hi ArthurK,
I have found that a visit to the town where you are going to buy, is the best solution and therefore I wonder why you are looking interstate or too far away. I live in Sydney and buy within a radius of about 6hrs drive . The trip home on a Sunday after renovation work is a real crock but easy to get to in a rental emergency and have found that agents in country areas have my full support for their helpfulness and reliability. Having said that and after buying properties from the agents, they will still need gentle prodding and reminders every so often to keep us informed. They assume because they put things on the net, then they have done their bit to contact us and they assume we will see it. And to re-enforce that which has already been said,: there is nothing like visiting the town in person because so many agents do not use the selling websites available because : 1) They are busy enough with people coming to town to buy and 2) They have their own websites which you may not know about unless you visit the town or type in the town name & real estate agents in your search engine . Cheers for now Len
Well I for one think it extremely unfair that agents offer all their best deals to their loyal clients. how on earth are people just starting out in investing ever to get a break when agents are saving all their best props for their loyals?seems to me its just easier money for the agent, less hassle and everyones happy!(not)and so the cycle continues, the rich get richer and the gap between them and us trying to make a go of it gets wider.[thumbsdownanim
Yea..it all depends how you look at it. There are a lot of challenges, not doubt about it, but it’s all part of the game. Nothing great comes easy, especially financial independence.
As far as agents go, I’ll use the tips I’ve read over the past few weeks from books and this forum. I’ll learn to work with them. I have to.
And just to clear something up. To those who (mistakenly) think that I just sit on the net and don’t bother driving anywhere…I’ve probably done more km’s looking at property in various towns and states than most on this forum. And I LOVE country driving. I find it peaceful… the endless road.
Cheers,
Arthur. K
as an agent I would like to add that the main reason we put the best deals to our regular clients is because there is so much scepticism from the public about agents that it’s just not worth the grief of trying to convince them that a good deal really is a good deal.
ps – agents are people too [baaa]
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
Ausprop,
That’s one of the annoying misunderstandings. Some agents don’t understand that just because a deal sounds great to them, it may not to me. And just because I’m not interested in what the agent thinks is a good deal, he/she thinks that I’m a waste of time.In my opinion agents should just focus on what customers are asking for and help them find it to the best of their ability. Forget about the “sales” and focus on customer service. The best agents operate in this way.
Ofcourse agenst are people, but the public isn’t sceptical of agents for no reason. I’m sure many on this forum have a story or two about mistakenly trusting agents and ending up worse off. I wouldn’t take an agents word on any aspect of property. Would you ?
P.S. I’m only speaking in general terms, not having a go at you Ausprop.
Cheers,
Arthur. K
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