Communication and building rapport with real estate agents is an acquired skill. Nobody starts real estate investing as a gun negotiator. After all, if the experienced real estate agent you are negotiating with is used to the game day in day out to maximise returns for their vendors.
Real estate negotiation mind games are overrated, especially if you are in the market to build a serious portfolio. Although every deal we have done has a story to go with it, we like transactions with clear and direct communication. Here are the 9 ways Property Twins build rapport with real estate agents to facilitate property finding & negotiation process:
- Being clear about what you are looking for. The more clarity you have, the more they would help find what you want and trust you to complete the deal. Clarity builds credibility
- Being direct about what you like and not like about the properties being presented and what attributes you want (cash flow / location / block size etc.). Shows you won’t just buy any property, but you will buy the right one for you. This saves everybody time
- Come across as if you want to make deals happen, respect their time, put an offer only and only if you intend on completing the deal
- Present yourself confidently. No umming and ah’ing about your decision making abilities
- Them knowing that Finance is not an issue. When buying properties at opens, go prepared with documents including cheque books / holding deposit
- Telling them a bit about yourself and genuinely finding out who they are. Earlier on we used to think real estate agents were out there to get buyers (and some really do play games), but if you connect with them at a human level, they are normal people
- When you have experience, telling them you know the drill with real estate and that you are a proven buyer. They will time and time again choose you over someone with no experience (We know it’s a tricky one with first time buyers). Being a first time buyer, go to as many open homes as possible and ask the agents key questions around rental potential, strata / council / water rates and doing your cash flows before putting any offers. Know the area and the recent sales. This will build credibility and increase the agent willingness to work with you to make the deal happen.
- Knowing the area like the back of your hand. This shows the agents you are serious about purchasing and know what you are talking about
- We like to save real estate agent numbers for every agent we ever speak with. Good to have a reference point for future transactions they may list or know about…and someone you can reach out to for input in the future!
How do you connect / build rapport with real estate agents?
Best with your real estate visions,
Property Twins
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