"Are you with that Richmastery crowd?"

[Gerrard]

In the last week I have been asked twice by agents if I am associated with "that Richmastery crowd".

One was asking because I put in a low offer and they were sick of dealing with people who come off these courses and start throwing in heaps of low offers all over the place.

The other agent had issues with property finders who get places under contract with long due diligence clauses then often don't go through with the sale because they can't anyone to assign the property to.

In both cases RM was explicity named as the cause of grief. Sounds like there is bit of a reputation ot there amongst agents!

Note: this is simply an observation on my part. Lets not degenerate into another RM slagging over this simple observation.

Gerrard

[stevek]

I've had the same response when I've put in low offers. I've not done any Richmastery courses but RM do seem to be pretty well known to agents.

Steve

[Avalon]

Get it all the time - and thats before I put any offers in.
As soon as I say im looking for investment properties - I get asked the question. Mind you - I also get told its "impossible" to find good rentals. Hmmm.

2 local agents so far dont seem to have a problem with it - a few do. One has already said he wont be putting any offers through (apparently he doesnt put any offers through for investors if they are "low" - RM or not.) I just moved onto another agent who was more willing to talk to me like I wasnt something they just stepped in

[whitt]

Yes a common problem if dealing with new agents.

Remember to build a relationship with the agent first ( No not that type of relationship).
If you work with them all the time they become comfortable with presenting your offers.
You only need one agent for each agency in your area. So half a dozen is all that is required.

You will have a better conversion ratio if you stick to this and motivated vendors.

[Avalon]

Ive actually started pre- empting the conversation by asking out right if its going to be a problem that im working with RM. The last thing I want to do is waste an agents time if they dont want to help me - or my time come to that. So far, ive found most of those ive spoken to are more than happy to show me round and discuss options. But it gets the hassle out of the way before we start, and from day one they know what im doing and that im generally looking to make low offers.

Becasue im looking locally, the last thing I want to do is annoy the agents, and we dont have too many to choose from. So hopefully being up front will reduce the number of problems I have in the long run.

BTW - the one local agent who does seem to have a problem, wasnt exactly great to deal when I was looking for my home, so I really cant say that his problem is with PI's as such.

[calmone]

I agree with your approach Avalon. As an Agent we want to keep the process as simple and uncomplicated as we can for both the seller and buyer, communicate what you want to achieve, the how when and why and a good agent will do the rest.

[revdev]

....communicate what you want to achieve, the how when and why and a good agent will do the rest.

Inshallah!! (Turkish for: hopefully/fingers crossed/with Gods help...)

G

[xris]

The last thing I want to do is waste an agents time if they dont want to help me

Your too nice avalon. I quite enjoy doing it.

xris

[Avalon]

Your too nice avalon.
xris

Not always!

Hxxx

[The_Dog]

I was speaking to an Agent about 2 years ago, and he said "I don't know when these seminars are coming up, but I know when they have been. I arrive at work on the Monday and there is fax paper low-ball offers spewed all over the floor with the fax machine flashing and beeping for more paper. I just collect them from the floor and pop them in the bin"

Unfortunately this does tar all investors with the same brush. What I do with Agents is always phone the Agent to let them know how I arrived at the figure I'm offering. That way it doesn't appear as a mindless "25% below asking" approach just playing the numbers game.

The Dog

[Gerrard]

What I do with Agents is always phone the Agent to let them know how I arrived at the figure I'm offering. That way it doesn't appear as a mindless "25% below asking" approach just playing the numbers game.

The Dog

Yeah that's how I approached it too. I'll definitely be finding other agents from some of the originals I tried. They were useless. Didn't listen to me and continually talked. Never shut the !#$@ up. I would never use these people to sell my house. I can't believe other people do.

Gerrard

[Ivanhoe]

They were useless. Didn't listen to me and continually talked.

cool! have you tried asking some quick questions:
Why vendors are selling?
When do they want to move?
Price range?
Will they look at offer below (insert bottom of price range here) if it was a clean easy deal?
Would you have any difficulties presenting such an offer?
etc

[whitt]

I was speaking to an Agent about 2 years ago, and he said "I don't know when these seminars are coming up, but I know when they have been. I arrive at work on the Monday and there is fax paper low-ball offers spewed all over the floor with the fax machine flashing and beeping for more paper. I just collect them from the floor and pop them in the bin"

Hey. Thats word for word what an agent told me last year also. Maybe the same agent.

Everyone don't waste your time with this sort of action. Spend the time to work with the agent. You will get better response.

[Gerrard]

cool! have you tried asking some quick questions:
Why vendors are selling?
When do they want to move?
Price range?
Will they look at offer below (insert bottom of price range here) if it was a clean easy deal?
Would you have any difficulties presenting such an offer?
etc

Yeah I managed to splip most of those in. They were clearly desperate to sell something because were happy to take a low offer even though they knew they would get yelled at by the vendor.

These were two of the most bored depressed agents I have ever met. You should have seen the faces light up when I arrived at the open homes. You'd think I was the only person to talk to them that day. Well, actually I was. No wonder one of them preattled on so much. Pure joy at human contact!

These people are desperate to make any sale so I'll keep using them. I don't see much of a future in real estate for either of them tho...

Gerrard

[xris]

These people are desperate to make any sale so I'll keep using them. I don't see much of a future in real estate for either of them tho...

The industry turn over rate is very high. It's that sort of job.