Transcript

00:00
when it comes to investing in property
00:01
something that people often get nervous
00:03
about is talking to real estate agents
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and negotiating with real estate agents
00:07
in order to get the best deal so today I
00:10
have with me Ben Everingham from pumped
00:12
on property my buyer’s agent of choice
00:14
and good friend to talk about how to
00:17
talk to real estate agents how to
00:19
identify the best opportunities and best
00:21
agents to work with so that you guys can
00:23
go into this quite confidently so hey
00:25
Ben thanks for coming on today today
00:27
Ryan thanks for having me man I’m just
00:29
loving what’s happening in your
00:30
background by the way like for anyone
00:32
that’s listening to this on the podcast
00:33
Ryan’s doing this wicked trip around
00:36
dollars right now and I’m just watching
00:38
cars go past people running fast with
00:40
dogs kids skating fast it’s just sick so
00:43
at the moment we have moved into the van
00:45
so we did up a campervan and have moved
00:47
in we’ve been in it for about three
00:49
weeks it has rained literally every day
00:51
except one which has been hard at the
00:54
moment we’re in Lenox head which is
00:56
really nice area we really love it here
00:58
but it’s raining so we couldn’t hear B&B;
01:00
so the wife and the kids are inside and
01:03
I’m here in the van working sweating it
01:05
out cuz but yeah it’s good setup we’re
01:09
having a good time you know doing what
01:11
we want to do which is what we want to
01:12
help you guys do as well live the life
01:14
that you guys have want and so part of
01:17
that is buying property and part of that
01:19
is talking to real estate agents so in
01:21
the last video if you guys watch that we
01:24
did come across like a really good tip
01:25
from Ben which was actually choosing the
01:28
right real estate agents to work with
01:29
when you’re starting and actually
01:31
understanding who those real estate
01:32
agents are so do you want to talk a
01:34
little bit about that then how do you
01:36
find out about the real estate agents
01:37
before you actually give them a call on
01:39
the phone or turn up to an open for
01:40
inspection yes I think the way that this
01:43
came about was just obviously it’s more
01:46
it’s an it’s important to understand who
01:48
you’re working with so I know all of us
01:51
that have partners obviously you know
01:53
did our best to understand that was when
01:55
we first got with them and that
01:57
definitely helped me sell myself my wife
01:59
I didn’t talk about myself for a long
02:02
time until I understood who she was and
02:04
what she was looking for because she’s
02:05
way too good-looking for me to actually
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be with normally so like I suppose it
02:11
comes back to something like that like
02:12
understanding
02:13
Oh shouting was very important and so
02:16
the way to most simply do that I suppose
02:18
is if you’ve identified a property that
02:20
you really like on a real estate calm or
02:22
domain click on the real estate agents
02:24
name and a whole lot of their you know
02:27
history particularly over the last
02:28
twelve months but even longer term than
02:30
that now that real estate comes grabbing
02:32
that information shows up shows which
02:35
suburbs they’re selling property in how
02:37
many properties have sold in each of
02:39
those suburbs in the last 12 months how
02:41
many properties have sold in general and
02:43
exactly what theirs what properties have
02:45
sold so you can start to go does this
02:47
guy sell cheap stuff does he sell
02:49
unrenovated does he sell you know really
02:51
high quality staff does he sell that
02:53
stuff for a premium or below market
02:56
value and then you can begin to get an
02:58
idea before you even pick up the phone
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of who you’re going to be dealing with
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in the reason that’s important is
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because some people are amazing at their
03:05
job and they sell a huge amount of
03:07
property because of that and other
03:09
people you know amazing at their job and
03:11
probably cost their clients more than
03:14
they make them to be honest with you if
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they’re not doing the right thing by
03:16
them yeah and so the figure that you
03:18
gave in the last video was real estate
03:20
agents who have sold under 20 properties
03:22
in the last 12 months generally tend to
03:25
be easier to negotiate with the real
03:27
estate agents who have sold over 20
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because the ones who are the top
03:30
performers they always said they’ve got
03:32
less financial pressure themselves in
03:34
order to sell that property and they’re
03:36
generally likely to be better at their
03:37
jobs as well making it even harder to
03:39
negotiate with them I saw a really crazy
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statistic recently on I think it was
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real estate calm Todd are you and it was
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92% of real estate agents in Australia
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and less than $50,000 per annum yeah so
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when you think about real estate agents
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you don’t think about the average person
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making less than 50k because even the
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50k guys drop up with $100,000 sports
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car it’s on Finance on the credit card
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they’re all rock up in these really
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expensive cars yeah and it feels
04:12
intimidating it’s like man this guy’s
04:13
got his stuff together like but it’s all
04:16
just the show like some of them the real
04:19
top performers that I know you know know
04:21
that it’s got nothing to do with any of
04:23
that stuff it’s really about doing the
04:25
right thing by people and helping people
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but there’s a lot of
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people in between obviously as well that
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a you know can be very sophisticated
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salespeople and flashy but most of the
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very good people a well well well passer
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yeah well so I think it’s really good to
04:38
get an understanding of the real estate
04:39
agent you’re going to be working with as
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Ben said what type of properties they
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sell how much they’ve sold so you can
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get an idea of know whether you’re going
04:47
to be an advantage when negotiating or
04:49
if they’re got the advantage are you
04:51
also saying that there’s a potential to
04:53
identify opportunities for the biggest
04:55
discount before we actually speak to
04:57
agents so how do we do that yeah so
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something that I’ve identified recently
05:04
is that there’s there’s definitely types
05:06
of people that you can buy from
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obviously personality types and playing
05:09
two personality types which is important
05:11
to understand but more than that there’s
05:13
just there’s people that are selling a
05:15
good amount of property and as Ryan said
05:17
don’t need the money and then there’s a
05:18
complete opposite of that so people that
05:20
I love to buy from as a buyer’s agent
05:22
who you know bought a hundred and twenty
05:25
nine hundred and thirty properties in
05:27
the last 12 months one the first one
05:30
would be an out-of-area
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agent an out-of-area agent is like a
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unicorn like it’s my favorite thing to
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walk across on a day-to-day basis and
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the way that an out-of-area agent gets a
05:41
listing like you’ll start seeing these
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people everywhere now it’s like if one
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of the first questions I ask is you know
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how many sales have you done in the last
05:48
12 months you know what’s your plan for
05:50
the next 12 months just to get them
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thinking about where they are and where
05:53
they want to be and then I go you know
05:56
where’s your area
05:57
are you selling much around here and now
05:58
they can’t help themselves but say
06:00
things that they shouldn’t say and
06:02
release too much information they’ll say
06:04
well this isn’t a property that oh this
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isn’t an area that I focus on I picked
06:08
it up through either our rent roll or
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I’m doing it as a favor for a friend and
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on this life you’re not doing anyone a
06:14
favor it’s set to my client man because
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this is this is like an opportunity
06:18
right now even if they’re a top
06:19
performer out of area they don’t want to
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drive to another area that they know
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nothing about which means they generally
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appraise it really really cheap or
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really really expensive which are
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equally bad yeah so after they’ve
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appraised it the wrong way and they’ve
06:33
realized that after a couple of weeks of
06:37
owning the listing it’s becoming a bit
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of a pain in the ass because no one’s
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bought it yet and it’s
06:41
you know significantly further away than
06:43
their normal territory their job then
06:46
turns from trying to sell the property
06:47
as a favor or because they’ve got a
06:50
listing and they thought it would be
06:51
easy to getting this thing off their
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books as quickly as they possibly can
06:54
like it’s an immediate switch in that
06:56
head and so these are two very agents a
07:00
fantastic to negotiate with because you
07:02
know they’ve got motivation to move it
07:03
quick and you know they haven’t done the
07:05
right thing by the person to pick it up
07:06
and they are the people without a doubt
07:09
like I bought one of these myself in
07:10
December last year where this
07:12
out-of-area agent that was doing a
07:14
friend er the service sold it to me for
07:17
about 75 grand below market value for an
07:20
unrelated product but this was
07:21
completely renovated so there’s a huge
07:24
opportunity to identify these people
07:25
there they’re by far the lowest hanging
07:27
piece of fruit in the market that most
07:29
people don’t know how to identify early
07:32
enough and could you identify them just
07:34
by looking at their past sales history
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and what they’ve sold and they’ve
07:38
attempted this area so I don’t let my
07:40
team go out without clicking on the
07:42
agents name and having a look at what
07:43
they’ve sold and obviously buying large
07:45
quantities of property and specific
07:47
areas you know who’s who in the zoo
07:48
quickly anyway but if you don’t you can
07:51
look at the the suburb name and then you
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can look at where they’ve sold in the
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last 12 months and if that suburb hasn’t
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shown up and it’s not in there within a
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5 kilo meter vicinity of where they’re
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buying from or they’re generally making
08:05
their sales from sorry you know that
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they’re pretty much out of agent and
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they’ve fluked that listing one way or
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another yeah so that’s a great like way
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to identify interesting agents to work
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with with the potential for good
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discounts obviously it’s not gonna
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happen every time but a lot more often
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than not hey you know like if there’s a
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market where there’s a hundred sales a
08:26
year in any one market that it’s got a
08:28
hundred sales there’ll be three people
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selling 80 properties a year which means
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if you think about it five one out of
08:35
every five times or twenty percent of
08:36
the time you’re going to bump into
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someone that’s ever needing to sell to
08:39
keep a job or an out-of-area agent so
08:42
there’s a bigger opportunity there than
08:43
you think about when you look at bigger
08:45
averages yeah that’s really interesting
08:48
and so let’s say that we found a
08:51
property we’ve looked into the agent and
08:53
now it’s time to either
08:55
give them a call or show up for the open
08:57
house what sort of tips do you have in
08:59
talking with them what to share with
09:02
them building relationships with them
09:04
etc so I think building a relationship
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is the key even though they’re not going
09:11
to take you that seriously because one
09:13
you haven’t provided them with a written
09:15
offering two you might only do this one
09:17
transaction with you if you can build a
09:19
relationship with a person and show them
09:21
that you are motivated and you don’t
09:23
waste their time then it can be a very
09:25
powerful way to start a relationship so
09:27
when I go into the property I do the
09:29
first thing I do is I sit like I talked
09:32
to the agent for between two and five
09:33
minutes just to get to know them to
09:35
explain my situation and what I’m
09:36
looking for I then get the agent to show
09:39
me if there’s not too many people at the
09:41
property to show me around now I don’t
09:44
as a person individually and as a team I
09:47
never ever show up to an open for
09:48
inspection because what a waste the time
09:50
like and the open for inspections never
09:54
coincide with when I want to do it which
09:55
is midweek like why would you want to go
09:57
and see a property on the weekend when
09:59
everyone else is there I mean you’re not
10:01
getting the right information from the
10:03
agents so book a one-on-one time with
10:04
the agent to go through so that you have
10:06
their full attention and focus and you
10:09
can build a meaningful relationship if
10:11
you really like the property so you
10:13
spend that so is that something that you
10:15
guys always do is that you get
10:17
one-on-one inspections rather than every
10:19
time yeah I can’t I can’t remember in
10:22
the last three years where we were
10:23
rocked up to an open home because it’s
10:26
just such a waste of time so what is it
10:29
about the open homes that makes it a
10:30
waste of time because I know there be so
10:32
many people listening to this and
10:33
they’re spending their weekends going to
10:35
open homes they’re taking the afternoon
10:36
off work to go on a Wednesday at 4 p.m.
10:39
you know the worst thing about open
10:42
homes for me is it doesn’t suit the time
10:43
that I want to do it I’m sure there’s
10:45
plenty of people that don’t want to bail
10:47
work at 4 o’clock you ought to get to
10:49
the open at 3 o’clock that would much
10:52
prefer to go do it in their lunch break
10:54
or would much prefer to do it before
10:55
work or after work in their own time so
10:58
that’s the big thing for me like you
10:59
know you control the outcome if you can
11:03
negotiate your own time on the property
11:05
against the good agent you should be
11:07
able to negotiate
11:08
discount as well like it’s one of the
11:09
things that kind of throws the Power
11:12
Balance from them having the power of
11:14
showing it to everyone to you going
11:16
you’ve made time to be here for me
11:18
outside of normally what you would do
11:19
I’m a serious buyer because I’ve wanted
11:22
to arrange a one-on-one and it kind of
11:24
sets the expectations both way that
11:26
they’re prepared to do something for me
11:28
and I’m prepared to do something to help
11:29
them as well yeah it’s just a
11:31
psychological thing plus when you’re
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inspecting 40 properties a week you just
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can’t get through all of them between
11:37
the hours of 9:00 a.m. and 12:00 p.m. on
11:39
a weekend either yeah okay um so that’s
11:43
a that’s a great tip for people try and
11:45
negotiate to see the property by
11:47
yourself yeah and that’s it like most
11:50
guys are gonna say no and you just need
11:52
to ask why like I literally if they say
11:54
no I say why can’t you do that like
11:57
seriously why and then they’ll make a
11:59
time for you because it’s awkward to
12:00
answer that question do you do you say
12:04
like I can’t come on the weekend do you
12:05
have to like say that sort of thing like
12:08
I can’t attend don’t don’t you can’t
12:10
tell the real estate agent that you
12:11
won’t you’re not prepared to work
12:13
weekends because this poor person has
12:15
been working weekends since the day they
12:17
got into the industry yeah and so
12:19
someone that has a weekend off is like
12:21
the dream I’m so you definitely don’t
12:23
tell them that you know you can’t make
12:25
the open or you don’t do Saturdays yeah
12:28
but make sure that they know that you
12:30
can’t make the open home for whatever
12:31
reason it is so if you just not get you
12:34
just say I can’t make it yeah
12:35
unfortunately I can’t make the open home
12:37
but how does this time suit you on this
12:39
day and just assume that they’re gonna
12:40
maybe not say yes at that time but play
12:43
ball one way or another yeah and then
12:45
ask them why if they say no we don’t we
12:47
don’t do that yeah just say why I like
12:49
if you’re in Bali walking around the
12:51
streets bartering you’d ask for a
12:52
discount but in Australia web you know
12:55
it’s not part of our currency so we
12:57
don’t ask people that question but it’s
12:59
just the question like the edge it’s not
13:01
going to go because I don’t want to
13:03
waste my time going out there for you
13:04
one on one when I know it’s just gonna
13:06
burn me that’s what they’re thinking
13:11
yeah yes sir you know I’ve kind of gone
13:14
a bit off the topic there so no but
13:15
that’s good why it’s good to I can that
13:18
sort of tip for people to help them in
13:21
their negotiation and
13:22
to help them actually see the property
13:23
without the flurry of people and the
13:25
stress associated with open homes as
13:26
well yeah like the agent will know a lot
13:29
more about the local area and if there
13:32
are high performer and the property than
13:33
you will and there’s a lot of meaningful
13:35
information you should be picking up at
13:37
the inspection it’s not just going
13:38
around and going hey does this look like
13:40
a nice house could I see myself living
13:42
in it would I buy it as an investment
13:44
it’s really about making the use of that
13:46
time and so back to what I was trying to
13:48
say was spend that first two to five
13:51
minutes building a relationship with
13:52
them the way that you build a
13:54
relationship in the simplest form is to
13:56
try and have a conversation about what
13:58
they have done in the past what they’re
14:00
trying to do for the foreseeable future
14:04
like I just leave it that simple and
14:06
then I say something feel weird to like
14:08
call them up when you’re looking for a
14:10
property and to ask them about
14:11
themselves it’s not on the phone call
14:14
it’s when you physically get to the open
14:16
oh yeah yeah of course it’s weird on the
14:19
phone like the only objective what are
14:22
you doing with your life my computer’s
14:30
about to go bust Frank sorry this is
14:37
after the call it’s just that I’m so you
14:46
know and get them to show you ask them
14:48
to show you around the property they’ll
14:50
point out some of the positives and some
14:52
of the negatives and that’s an
14:54
opportunity for them to speak and for
14:56
you to listen and by listening you’re
14:58
building rapport with that person and
14:59
they’re gonna share more with you then
15:01
you know you may be asking them for in
15:04
one way or another it’s really an
15:05
opportunity to listen to what they’re
15:07
truly saying and then after you’ve gone
15:09
through that you then you know get to
15:12
the pointy end of the conversation which
15:14
is basically them wanting to go are you
15:16
a serious buyer what do you think of the
15:17
property can we make some business
15:19
happen here type thing and that again is
15:22
an opportunity to tell them exactly what
15:24
you want give them meaningful feedback
15:26
but definitely don’t commit to any sort
15:28
of like they’re going to ask you about
15:30
price one way or another you know don’t
15:32
comment on price don’t comment on terms
15:35
but let them know that
15:36
you are a very serious person to have a
15:39
conversation with if you like the
15:40
property enough to seriously place an
15:42
offer on it yeah so how do you do that
15:44
like you’re they’re saying what do you
15:45
think about the property are you gonna
15:47
make an offer or they say how much
15:49
you’re looking to spend all those sorts
15:51
of questions again someone ask you a
15:55
question doesn’t mean you have to answer
15:57
it it’s really uncomfortable to do that
16:00
as a human because you like there’s
16:02
awkward space for about one second but
16:04
they will fill it because they are an
16:05
agent yeah so like learning to do that
16:08
is an art form and it takes a little bit
16:10
of practice but just because they ask
16:11
you what do you think the property’s
16:13
worth
16:14
you know like Zoolander style let me
16:16
answer your question with another
16:17
question like what do you think the
16:19
property is worth where is your
16:21
comparative market analysis like what
16:23
are some examples of properties you’ve
16:24
sold where you think this is comparable
16:27
against and then it throws them around
16:29
into another five minutes of talking
16:30
about stuff that they shouldn’t be
16:32
talking about again yeah I’m just
16:34
imagining you in zoo right now just like
16:42
that guy’s such a love that movie that’s
16:45
like one of my favorite movies to the
16:47
point where like I haven’t watched
16:48
Zoolander 2 because I don’t want to ruin
16:50
my impression of Zoolander 1 don’t watch
16:53
Zoolander 2 it like Zoolander 1 is
16:55
amazing and Zoolander 2 they tried to do
16:58
the same thing again it wasn’t any okay
17:05
so we’re saying yeah so don’t don’t give
17:08
away too much when it comes to price or
17:10
when it comes to terms what sort of
17:12
information do you advise giving to the
17:15
agent to let them know that you are
17:17
serious but without giving too much away
17:19
well I’ll let them know that I’m
17:21
actively in the market in this suburb
17:23
right now so I am looking for a property
17:26
in the way that I do that is I explain
17:28
what I’m looking for in terms of you
17:31
know a certain land size certain number
17:33
of bedrooms bathrooms I let them know
17:34
only if the property is meaningful that
17:37
I’m interest I do have an interest in
17:39
this property and would seriously
17:41
consider placing and offer at the right
17:42
price and I awesome let let them know
17:46
that I do have a pre-approval in place
17:49
because one out of every
17:50
three offers in Australia at the moment
17:52
is being like you know it’s not going
17:56
under contract because of Finance yeah
17:59
most of the time it’s because people use
18:01
finance to pull out of contract because
18:03
it’s like it can be like a get out of
18:05
jail free card in some states in
18:07
Australia obviously talk to your license
18:10
solicitor about that before you ever try
18:12
and do that but most of the time smart
18:14
people have a finance clause in their
18:16
contract to protect themselves so they
18:18
can pull out but an agent’s worst view
18:20
is doing a month worth of marketing and
18:22
open homes on a weekend selling a
18:24
property taking 14 or 21 days to get to
18:28
a point where they know it’s officially
18:30
sold meaning it’s gone under contract
18:32
and then having that fall over because
18:35
someone’s pulled out on finance and then
18:37
they’ve got it they’ve lost seven weeks
18:39
which means they’ve lost their full
18:40
opportunity to sell their property at
18:42
the most premium price and now they have
18:44
to start from scratch again and build
18:46
momentum and it’s like it’s it’s a pain
18:49
point for an agent so explaining that
18:50
you have a pre-approval which means you
18:53
can buy the property and you’re not
18:54
going to terminate it is a very powerful
18:56
thing whether you terminate or not is it
18:59
your discretion later on but you know at
19:01
having that initial conversation it will
19:04
build a lot of credibility yeah and so
19:06
yeah that’s also you want to make them
19:08
know you’re serious but then you also
19:10
want to make their life easy right
19:11
they’re there to sell a property and to
19:13
make a commission and earn money as a
19:16
result that’s that’s I guess their
19:19
motivation behind it and so you want to
19:21
help be the easiest buyer for them as
19:23
well an easy person to work with that
19:25
they can definitely do business with
19:27
that’s that’s a 100 percent it like just
19:30
being a good person that’s relatable
19:32
that that’s why I ask questions about
19:34
them because in the real world if your
19:36
mates with someone you find out a bit
19:38
about them they find out a bit about you
19:39
and that’s a real meaningful
19:41
relationship and you know not wasting
19:43
their time like these poor agents do
19:45
have a hard life man like it’s mentally
19:49
grueling like every time they make a
19:51
sale they have to go find another place
19:53
to sell because you know man it’s like
19:55
this constant life thing that just never
19:57
stops for them and when they get someone
19:59
that treats them with actual respect
20:00
that doesn’t waste their time that is a
20:03
serious
20:04
like you know that’s that’s all they’re
20:06
looking for as well and most people just
20:08
waste their time and don’t treat them
20:09
with that respect
20:10
yeah well that’s that’s something that’s
20:12
okay I think is just that treating them
20:14
with respect and treating them like a
20:16
person because it’s the same yeah yeah
20:18
well right but it’s the same as if
20:20
someone works in a cafe or something as
20:22
soon as you show someone like a little
20:24
bit more respect than other people would
20:26
like you can really make someone’s day
20:28
by doing that and you can make the
20:30
negotiating process so much easier with
20:32
the agent if you build that rapport and
20:34
you show them that respect so that they
20:37
feel like appreciative to you because of
20:39
the way you’ve treated them a hundred
20:40
percent and this this goes a long long
20:43
long way like we might not be able to
20:45
talk about all the negotiation stuff
20:46
right now but it can go a long way to
20:49
the sense that we’ve got agents that
20:51
we’ve built really meaningful
20:52
relationships with and a meaningful
20:54
relationship is based on like honesty
20:57
it’s based on not wasting someone else’s
20:59
time and it’s a based around doing what
21:01
you say you’re gonna do and so I will
21:04
always give an agent of quick follow-up
21:06
text message after I’ve gone to the open
21:08
for inspection going thank you so much
21:09
I’m gonna have a really serious look at
21:11
this in the next couple of days and I’ll
21:12
come back to you either way because a
21:15
lot of people go yeah I’m seriously
21:16
interested and then you never hear from
21:18
them again and it’s you know so that’s
21:20
that goes a long way and then when I
21:22
place an offer
21:23
I don’t verbally place an offer a fifty
21:25
grand below what it’s listed for knowing
21:27
that it’s listed at market value and go
21:30
I’m just gonna play the game and yeah if
21:32
I if I do three hundred offers maybe one
21:34
of them will be accepted the agents just
21:36
laugh at that like it’s and if not it’s
21:38
like an inside of industry joke that
21:40
like those people are just wasting their
21:42
time like the agent will play the game
21:44
with them but then they know how to
21:46
identify a serious buyer within two
21:48
seconds of you walking into the property
21:49
so like that’s what they’re really good
21:52
at and you’ve got to recognize what
21:53
their skill set is and not give too much
21:55
away but enough away to know that you
21:57
know you’re a genuine prospect if you do
22:00
like the property you know and
22:01
negotiating we’ve covered in previous
22:03
videos and I know we’ll talk more about
22:04
it in the future but I hope this gives
22:06
people an understanding of and a
22:09
confidence to go out and to talk to real
22:11
estate agents to build rapport with them
22:13
to find out about the property to choose
22:15
the best agents to talk to
22:17
as well to let them know that they’re
22:19
serious buyers so that negotiating can
22:21
start happening and at the same time not
22:24
giving too much away so the real estate
22:27
agent doesn’t have it over them
22:28
basically yeah you’ve got to be careful
22:31
with what you say as much as the agent
22:33
is trying to be careful with what they
22:34
say
22:34
yeah like the agent to really look out
22:37
for in terms of tips for talking with an
22:39
agent is the one that comes across as
22:42
cold but is really not like the agent
22:45
that is has been around the industry for
22:47
so long that when you ask a question
22:50
they give you an answer whether it’s the
22:52
answer that you want to hear or not but
22:56
they give a very direct answer like
22:57
those direct agents are the ones that
22:59
have been in the industry for long
23:01
enough to know that the games are over
23:03
here’s what it is like take it or leave
23:05
it type thing and and they’re the ones
23:08
that you might respond like whole
23:10
like they’re being very direct and
23:11
they’re being mean or they’re not like
23:13
communicating in the way that we
23:14
communicate with our mates but it’s just
23:17
because they’ve talked to so many you
23:19
know shit-kickers in the past that they
23:20
know that just be honest about stuff
23:22
know where it’s at like set people’s
23:24
expectations properly and that’s going
23:27
to like eliminate a lot of the people
23:28
that are just wasting their time so
23:30
they’re also the ones that speak
23:32
directly that don’t budge on price and
23:34
if you’re an emotional person that’s got
23:36
an ego tied to negotiating because you
23:38
think you’re good at it
23:39
yeah they will smash you every single
23:41
day of the week and you will end up
23:43
bending over so far backwards that you
23:46
feel like you you you know you’ve been
23:48
through a bad time but they’re imperfect
23:52
that’s a nice way of saying what I’m
23:53
being in but if you hadn’t listened to
23:56
the first thing that they said which is
23:57
when you say how much do you think it’s
23:59
roughly worth and they say 515 K and
24:02
then you start at 450 and end up at 515
24:05
K if you just had have known who you
24:06
were speaking with before you spoke your
24:09
problem would have been solved you know
24:11
I don’t mean yeah if you see value at
24:13
515 are you saying that those people
24:16
aren’t really worth negotiating with or
24:18
just not worth low-balling not worth
24:21
low-poly like definitely worth talking
24:23
with because the good thing about a
24:25
great agent is they’re selling the
24:27
property at or a tiny tiny bit below
24:30
market value
24:31
generally because they know that it’s
24:33
not worth listing a property so far
24:35
above market value it’s just going to
24:38
chew up their time and their energy so
24:41
like a good agent will have also set the
24:43
clients expectations very much upfront
24:45
the person they’re selling for and said
24:48
this is what it’s worth if you want to
24:50
sell it with me this is what I’m gonna
24:51
sell it for and then they’ll go and tell
24:54
the market that as well but the market
24:56
sometimes think that’s they’re playing a
24:57
game with these people and and they’re
24:59
not that person’s almost always gonna
25:01
win yeah so you just well that comes
25:03
back to being aware of like who you’re
25:04
negotiating with and being smart about
25:07
it by building rapport making their life
25:09
easy and you got to adjust that for each
25:12
individual person that you’re talking to
25:14
so an agent that sells 20 properties a
25:16
year would probably on average get
25:18
between five and ten offers on a
25:20
property so you’re talking let’s just
25:23
say it’s five times twenty that’s a
25:24
hundred people a year that they’re
25:25
directly in writing negotiating with if
25:29
you’re only buying one property every
25:31
three years and you pretend that you can
25:32
come up against someone that buys you
25:34
know that talks to 300 people here about
25:36
it plus all the other time wasters you
25:39
know just you’ve got to look at where
25:40
people’s skill sets lie yeah and
25:43
sometimes your skill set isn’t going to
25:45
be negotiating better than that no not
25:47
not unless the agents average which
25:49
you’ve talked about before yeah exactly
25:51
well let’s later there because we’re
25:54
coming up to about half an hour and I
25:56
think that’s given enough for people to
25:58
chew on when it comes to talking to
26:00
agents I think we’ve given them some
26:01
great tips and I think now it’s just up
26:05
to you guys who are listening to this or
26:06
watching this to go out there and to
26:09
build that rapport try and get the
26:11
viewing by yourself you know do these
26:13
things that we’ve talked about become a
26:16
serious buyer but don’t give too much
26:17
away and we wish you the absolute best
26:19
in buying your property and in talking
26:22
to these real estate agents because at
26:24
the end of the day as we’ve already said
26:25
they are people and you know you can
26:28
have group conversations with these
26:29
people you’re not necessarily going to
26:30
be best friends but you can have a good
26:32
time in that buying process and it can
26:34
be as painless as possible if you can
26:37
make the process of buying property fun
26:39
it’ll definitely you know add years to
26:41
your life because if the opposite of
26:43
that is
26:44
what most people experience in it can be
26:46
really painful sometimes as well yeah
26:49
you wanna you want to go into it and
26:50
come out with it with just as few gray
26:53
hairs as you started you’re so stressed
26:56
that it just ruins your life so yeah
26:58
we’re gonna end up there but we wish you
26:59
the best of luck and until next time
27:01
stay positive
27:03
[Music]

Posted by Admin