Markets in a ‘sound’ state despite shift: PIPA
The winds of change are sweeping through the country’s real estate market, but for Property Investment Professionals o...
If you’re relying on your agent to do all the talking with the buyer you might be missing out according to Century 21 chairman and owner Charles Tarbey.
“Right now, I've been concerned about this for a long time, the real estate practitioners have avoided communication with buyers and sellers through all sorts of fancy tools that avoid any conversation... it's all about the easy open for inspection applications where you don't have to talk to anybody,” said Mr Tarbey on The Smart Property Investment Show Podcast.
Not only does this lack of communication affect the ongoing relationship you can have with your agent it can also negatively affect your purchase process.
“That doesn't mean a lower price, I'm talking about matching each other's needs and requirements,” said Mr Tarbey.
To get around this blockage Mr Tarbey suggests investors should try and communicate directly with the seller, not during the actual negotiation phase, but prior to this so you are able to get a hold on the seller’s situation.
“The agent can't give you too much information; they're going to breach confidentiality,” said Mr Tarbey, which is why dealing directly with the seller will give you a better grasp on their situation.
“I do think that negotiating is not a difficult process and it doesn't have to be a cloak and dagger style of presentation,” said Mr Tarbey, adding that he doesn’t feel the subterfuge between buyers and sellers is necessary and can be avoided.
“It comes back to the experience of your real estate practitioner,” he said.
Mr Tarbey said this is another reason why trusting the agent you are dealing with is so important; and why it can pay off to have an agent you work with regularly and have built a long-term relationship with.
“Everybody knows where the market is, we can all see it, we can all go into CoreLogic and have a look, with a reasonable offer that meets the seller's circumstances, you're going to have a far better chance of negotiating a position than somebody else,” said Mr Tarbey.
An investment is an asset or item purchased with the expectation that it will generate income or appreciate in value in the future.