How To Choose A Property Investment Professional
When I talk to our members, the number one barrier to getting started is time.
Many people have the opportunity to do a little research and find out what’s going on in general, but to really get a good grasp of the best opportunities, you need to put aside some significant amount of time to gather all the research and data required to make an informed decision.
When you consider it, having a property specialist on your side can be a GREAT INVESTMENT. Most people that we talk to are lucky to have 1-2 hours per week to look at research, in comparison to a property investment specialist is studying the market 24/7, and has all the resources to do in depth research.
However, there are many players in the market…so here;s my top 5 tips on what to look for when choosing your partner to assist you to choose a property.
TIP 1: Are they INDEPENDANT?
Many property companies sell their own stock, so they have a vested interest in selling their stock first. Beware of companies that are only wanting to sell their own stock, as they are not considering the rest of the market.
TIP 2: Are they CHARGING YOU for the Advice?
Its important to ask the organisation how they are being paid for the service they are providing. We have nothing against paying someone for a service, but if you are paying for elevated amounts of money upfront or if it is being loaded on top of your property price, which will then not meet valuations, then there is a reason to execute caution.
TIP 3: are they EXPERIENCED?
I think experience is invaluable. Choosing an organisation that has a history of performance is a real asset to you.
TIP 4: Are they REPUTABLE?
We are so lucky that in 2016, that the internet has made it so transparent for people to do research on the company that they are intending on partnering with. Looking up ASIC and discovering how long the business has been registered for is essential. It will show you if the company has closed down, and the track record of the company and its Directors.
In addition to that, google ensured that people have the ability to blog bad experiences as well. If there is a history of negative feedback from customers, then there is reason to be warned.
TIP 5: Do they provide RESEARCH and DATA?
My final tip is that you should never just take someones opinion that an area will grow. The company that you partner with should be able to provide a vast amount of data and research from a wide variety of sources to back up their choices.
So, if you only have a little amount of time to spare, make sure that time is actually researching the company that you intend on partnering with!