Talking to agents

I am planning to do some groundwork on a new area this weekend where agents appear to operate differently to what I've been dealing with previously.

What are your tips on feeling agents out and establishing a rapport (whilst getting the info you want)?

My first step will be to go to a few OFI'a and do the usual chit chat. But I despise chit chat. It makes me feel really awkward which probably comes across as hostile. I am also a facts person and I like to get to the point. I am also loathe to give too much away (PPOR purchase but not willing to pay emotional prices).

What then?

 

1. Have a good idea of what an agent might reasonably be able to tell you about a property for sale.

2. Ask for that information from the agent in a normal, polite and socially acceptable manner.

3. Repeat steps 1 and 2 as required.

Bonus tip: Probably best to not overthink things or 'game' it too much. It almost always comes across weird and off putting.

 

Thanks I agree. I am just finding that a couple over the telephone seem incapable of having that to and fro.

Me: how many sqm is the land.

Them: hmmmm it is open for inspection on Saturday. You can check it out then.

Me: oookay. I'll come and have a look. But just wanted to check if it has ducted heating? There was not mention of heating/cooling in the listing.

Them: hmmmm it is open for inspection on Saturday. You can check it out then.

 

To be honest, I don't often ask much over the phone if I'm coming down to look at it anyway - it does seem to be a waste of time for everyone involved.

 

you could cut to the chase and ask if they know of any particular problems with the property

 

Agents are skilled at understanding your personality type and how you communicate. I have gone to some of their training courses and they are aware of the factual busy quick action person.

Tell them openly about what you want to do and say that you unfortunately come across hostile. Let them know you are interested in facts and you want to learn from them.

Their is no shame in talking about vulnerability openly and what you want to achieve.

A REA will sell more homes in a month than most buy in a lifetime. Do not try to game them or start to lie. They have seen it before and they are better than you at it.

Sort of like East Timor coming into a military battle with the US.

 

Just treat them as a normal person.

Rock up - have a chat. Ask your questions. Make your offer if the property is what you're after.

Cheers

Jamie

 

That wont work as any agent will tell you if you are serious about buying to have a building inspection.

I have rocked up to all 6 homes that have come on the market in my street in the last 6 months and told the agent I am a neighbour just having a stickybeak and keeping a check on prices - they all just smiled and told me to have a look and asked me what I thought about the property on the way out ...

 

Before you walk in the door find out everything about the property check the sales history first then have a value range,then say very little let the agent do the talking just listen ,then ask 2 questions"Why are they selling"and "what will buy this property today" as i have a contract with me..

 

Do your own research on things you can find in public.

Go look at the place if it is of interest, if it is a busy market, then money talks, everything else goes out the window. Maybe that is what is happening.

 

common trends will appear in their answers (if truthful)
Who buys in the area ?
What are they looking for ?
What are the minimums/the must haves ?
How would this house compare with xxxx recent sale? (Prob one they have listed but a really good agent will know regardless)

 

Love chit chat, this is how I get my best deals.

First of all you don't deal with one re agent, you deal with at least 3-4 re agents, this way you keep them honest.

You tell them you are a cash buyer/investor and you are looking at securing property and doing the ground work and once you identify the right property you will make a quick decision.

The questions I ask

What is selling/what is in demand, ie price point and product
Who is buying ie FHB, investors, OO
How many days on the market
Are you getting multiple listings
What has been happing over the last 12 months, any significant changes in that last 3 months
Is the market hot? Do you have low stock? If so when did it start tightening
Look at realestate.com can you see a pattern, UNDER CONTRACT listings?

You don't need to grill the re agent but you casually ask the above questions this will give you a very good indication on what is happening, I focus on rising markets, also very important to establish if it is a hot or rising market when did it start??

By asking these questions you will also be able to determine the calibre of the agent, some are lazy and just want to offload stock, very easy to identify this and can work in your favour.

Some will provide excellent information with great detail this will also give you an edge when talking to other re agents, then.

Key is to not mess the agents around, also a dose of stroking their ego never goes astray do this one in spades...

 

I'm intrigued about how the agents in this new area are operating differently?

 

Great to hear all your different views.

I am used to dealing with agents in the inner north of Melbourne who are quite matter of fact and somewhat aggressive once they know you are a serious buyer.

In this area things seem to move a bit slower and the agents whilst friendly enough, give you a lot more space. This kind of makes having a discussion difficult because it requires you to make the first move and once you do there is almost an aloofness when it comes to talking details. They not very forthcoming with price either and when I mentioned a few recent sales that I thought were comparable to one particular agent they kind of brushed it away saying they were aware of them but had not done any research..really annoying!

This is similar to how I have been approaching things to date and it seems to put them off a bit. I think i just have to go with their (slower) flow and stick to a few basic questions:

1. what can you you tell us about me property?
2. why is it for sale?
3. What has been happing over the last 12 months?
   
4. what is vendor hoping to get?

Thanks all!