How to get your estate agent working for you and your investment.
You have decided to invest in property, but how to get started? How do you get Estate Agents “on your side”?
At Agile Property Partners (“APP”) we have many years’ experience of dealing with property and want to share some of our tips to help new property investors.
In this blog post, we talk specifically about estate agents – and how to get them “on your side”.
Walk down any street of any town or city, and you’ll see the familiar fronts of independent and corporate estate agents. Their job is to acquire listings through valuations and then secure sales through expert marketing and negotiation.
On the web, too, is a new group of online estate agencies, all vying to market and sell properties.
At APP, we pride ourselves on building professional connections with estate agents and auction houses, to source the best property, in terms of financial returns.
As an investor too, you should aim to foster positive working relationships with the estate agencies in the area you’re looking to invest in. It’s all very well walking through the door and expecting an estate agent to show you their best investment properties, but the fact is that estate agents are approached by so many people professing to be property investors that you will have to be prepared to earn their trust. The question is how to best develop that type of relationship with them, and how to find an investment property that is right for you.
To get started, here are 6 tips:
- If possible, arrange to meet an estate agent in person at some mutually convenient time. This way, you start to build a personal relationship and they get a great feel for what you’re looking for. Remember an estate agent’s dream buyer is a cash one, with no chain. As an investor, you could be that dream buyer.
- Add yourself to estate agency subscription lists and that of the portals, so when a property in your price band and preferred locale is launched, you are in prime position to view and make that quick offer.
- If you’re social media savvy, like local estate agents’ Facebook pages and follow them on Twitter. Often an estate agent will tweet or post about a new property before it’s even launched on their website or Rightmove.
- Watch trends in neighbourhoods — there’s all sorts of online tools that can show you what a seller paid for a property and how much it is now worth in terms of capital value and its rental yields. Ensure you view Rightmove, Zoopla and Mouseprice on a regular basis to keep your knowledge of your investment area razor sharp.
- Look for historic patterns in prices. Is property in an area increasing in value rapidly, by 5% per annum, or is a 5% growth taking 3 years?
- Ensure you log every property you find, view and place an offer on, and keep in touch with the Estate Agent to check the progress of each property through the sales process.You will be surprised how many property deals “fall out of bed” which can suddenly mean that your perhaps lower offer may now be acceptable!
These are just some of the strategies we use at Agile Property Partners.
If you would like to have a chat about your investments get in touch on 01603 567804 or email email@example.com