Have you been looking for your next home or investment property and felt like the moving market has passed you by?
You know what I mean… others have purchased properties and you’re still in the queue.
Do you wonder why the selling agents never ring you about their new listings?
Fact is: there are fewer good properties for sale at present but there are still plenty of willing and cashed up buyers; making it easier for agents to sell homes and harder for buyers to find the right property.
The harsh truth is that as a buyer you’re not really top of mind for the selling agent and you’re unlikely to be called back and even more unlikely to be given access to off market or pre market properties, that those on the agent’s “A-List” find out about.
What’s an off market property?
The team at Metropole come across two types of what I would call “off market” transactions.
Most are really “pre market” opportunities.
We get the opportunity to inspect and make an offer on a property before it hits the Internet.
And then there are the true “off market” opportunities where for various reasons the vendor doesn’t want to make the sale of their property public knowledge.
And yes they do occur! Even in today’s hot property markets a significant portion of the properties we buy for clients at Metropole are bought this way.
So let’s look into this in a little bit more detail…
Why do pre-market opportunities occur?
It works a bit this way…
A selling agent lists a new property and then there’s about two weeks before it hits the Internet.
During this time photographs are taken, floor plans are drawn, the seller must approve the marketing and all this must be loaded on the Internet.
If you think about it…most selling agents would prefer to keep their whole selling commission rather than sharing it with other agents in the office.
So what do they do?
Well…they don’t tell the others in their office about it for a few days and instead they ring their “A” clients and offer them this great new property they have just listed for sale.
And then they call their “B” clients and then they ring anyone else they think may be interested.
A few days later they have to tell the other selling agents in their office about the property and these agents do the same – they call their top clients.
And if it doesn’t sell, eventually the property gets listed on the Internet and you find out about it.
How do you get on the speed dial of these estate agents?
This is tough when you are a “normal” property investor or homebuyer.
You’re probably only going to deal with selling agents a few times in your life on the other hand the team at Metropole was involved in close to one quarter of billion dollars worth of property transactions last financial year alone.
Do you think this puts us on the speed dial of most selling agents in the areas where we are active in Melbourne, Sydney and Brisbane?
So while it may be difficult for you to get the call, you can still benefit from this special treatment by having the team at Metropole on your side.
By the way that’s the easy bit! If you’re interested in starting or growing your existing property portfolio just click here and organize a free strategy session with Metropole
What else can you do?
Of course it helps to have your finance in place and if you’re planning to go it alone, do your homework and research the areas you’re about to buy in to ensure you know good value when you see it so you can make a speedy decision.
It also helps to keep in regular contact with the selling agents you meet, so they don’t forget who you are and hopefully they’ll think of you when the right property comes along.
But the despite this – the game is stacked against you.
The sellers have an agent protecting them, looking after their interests and advising them, but most homebuyers and investors go solo.
Sure you’ve read some articles and done your research on the Internet, but this is likely to be one of your largest purchase ever.
And those emotions will cloud some of your decisions.
You wouldn’t go to court without a solicitor on your side – would you?
You probably have a good head on your shoulders and may even have a good working knowledge of the property buying process.
What you probably don’ t have, however, is perspective.
If, how and when you buy a property are all decisions that will have major consequences.
That’s why it’s important to have the same protection on your side that the seller has.
That’s why it’s critical to engage a professional buyers’ agent to represent your interests.
Sure I’m biased but I know how many buyers have missed out or even worse paid a very hefty learning fee to the market, buy purchasing the wrong property, overpaying or making a fed up purchase.
I recently heard someone call this a “stupid tax.”
Here’s my recommendation for you…
If you’re in the market for an investment property or a new home please give the team at Metropole a call on 1300 20 30 30 or click here now and organise an obligation free strategy session.
You see… at this more mature stage of the property cycle, strategic and careful property selection will be critical.
So whether you are a home buyer, a beginner or a seasoned property investor we would love to help you formulate an investment strategy or do a review of your existing portfolio, and then help you acquire your investment property.
When you attend our offices you will receive a free copy of Michael Yardney’s BRAND NEW 2 x DVD program Building Wealth through Property Investment valued at $49.