Most people have rash inducing hang ups on Estate Agents.
Did you know they’re human too? They need love like everyone else :-)
Put yourself in their shoes: every man and his dog walking into the
estate agencies expecting the best deals; now, just because they’ve
recently watched property ladder and think they’re experts.
Just like the 5 date rule, you’ve got to earn intimacy.
There’s no doubt that other investors in your area are getting the
best deals, first.
Cherry picking and choosing the ones they want, and
the ones they reject for everyone else to fight over.
And they earned it.
And they have the BEST relationships and friendships with the best
Once your foot is in the door, here are some techniques, right from
the front line, on getting the best deals coming your way, BEFORE they
go in the window:
The Long Game:
The long game is not just a simple strategy but a specific, strategic
technique to draw out negotiations for as long as possible, thus
increasing the desire and urgency for the vendor to sell.
The longer the negotiation process; months or even years will ensure
you’ve paid the least amount possible for the deal.
The longer the negotiation process, the more pain and frustration the
vendor may have experienced, perhaps even having one or more deals
fall through or sales falling out of bed at the 11th hour.
If these processes have not happened then there is no real reason for
the vendor to sell (fast and cheap).
If you chase or rush the deal your emotions will kick in, your need or desire for the deal will
increase, your time and financial investment will cause pain if you
walk away, and you’ll overpay.
The vendor or estate agent will sense this rushing or need to get the
deal and will manipulate your emotions against you.
You hold all the cards and power when the vendor needs you more and
more pain they’ve experienced, the more they need you to do the deal.
This will allow you to offer away lower and your terms are far more
likely to be accepted
Glooming is a technique where you or the market creates pain to the
vendor, which drives a sales decision.
No vendor will ever sell a property at a significant discount without a
They need to be motivated, distressed or desperate in
order to sell a property to you at the price you, as a professional
investor, would like to pay.
And if they’re happy, willing to wait, feel that the market is strong
and have no emotional driver, they won’t move on price.
However if the reality of the market, the media and the doom and gloom
is shown to them; either by you or by the market, their pain and need
to sell will increase.
Playing the long game creates this effect, as does showing evidence of
price drops, slow markets, bad economy, lack of available mortgage
finance and a lack of other buyers or sales options.
**Stick around for part 2 of the 3 part series.**
Rob Moore & Mark Homer
Co-Founders of the Progressive Companies
Full Time Property Investors
Double Best Selling Property Authors
Over 350 Properties Bought & Sold
© Progressive Property Ventures LLP 2013