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What questions to ask the property agents when buying in unfamiliar suburbs / state ?

Discussion in 'The Buying & Selling Process' started by Tekoz, 2nd Jul, 2015.

  1. Tekoz

    Tekoz Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    1,244
    Location:
    Sydney
    People,

    When you are buying investment property in another suburb / state that you are not familiar, what are the questions that you usually ask them ?

    I've read some good article from this website:http://www.afrsmartinvestor.com.au/...y_flip_property_safely_z4ObQqhgBpM2ABXaHs0CFO

    But still not sure what does this means:
    Pressure-test up to five agents before engaging one.

    Any kind of help and suggestion would be greatly appreciated.

    Thanks
     
  2. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,225
    Location:
    NSW
    It means, that once you have prepared a list of questions you want answers to, then ask those same bunch of questions to each agent, and see if you are happy with their responses.

    For example, as BAs we interview PM's to see who we want to manage the property we have purchased for a client.
    Some of the responses we have had back over the years:
    1. We are too busy to answer your questions, but here is our standard LL's booklet that explains how we do things. Our repy: we're too busy to read your LL's booklet.
    2. We won't reply in writing to your questions as we consider the answers to be our IP (intellectual property). We would be happy to answer verbally in a meeting with your client. Our response: You will never be meeting with our client.
    3. We don't manage renovations for LL's, we only take on property that is in rentable condition. My response: Next!
    ..........you get the idea :)
     
    SeafordSunshine and Tekoz like this.