Client: I want to thank you for all the hard work you have done for me in getting the property. I am so happy with the outcome and have learned a lot in the process. It has been great! I showed my parents last night and they also are very happy. I owe you for your services.
Solicitor: Congratulations on an exceptional purchase, Erick!
Building and Pest Inspector: 6 years old property. Solid, nothing major to worry about. Good property in good location.
Property Manager: Great result! High tenant appeal. Can you purchase a property like that for us too?
Mortgage Broker: Well done Erick! That is a phenomenal purchase!
Neighbour: I cannot believe they (the sellers) accepted your price. I would assume it will be at least $200,000 more!
Real Estate Agent: I hate to say this, but your client purchased this property really cheaply. You have done an amazing job for him!
Whilst the neighbour thinks that the property is worth another $200,000 more, it is not the case. This clearly shows that many people have little idea on the value of properties, and the behind-the-scenes workings of real estate selling and buying. Even licensed valuers argue among each other on their valuation findings. My professional research shows that we have purchased the property approximately $50,000 below what it is worth in the current market. But if it was purchased off-the-plan, it would have been $80,000 more. So we did extremely well in acquiring a good quality asset to include in the client's expanding property portfolio.
The key to purchasing high-grade property properly is a combination of market knowledge, insider information, high standard due diligence, negotiation skills, timing, valued connections, be emotionally intelligent and an excellent teamwork amongst consultants and clients.
"Are you a realtor? Are you a selling properties?" I get asked these questions almost daily.
"No," I replied. We are buyer's advocates/agents. We are independent and only look after the interests of the buyer. Being independent is the key word here. If one is paid by a developer or the seller, one will be bias and cannot be impartial to the buyer. Seller's agents or real estate agents, are paid by the sellers hence representing the sellers and look after their interests. Buyer's advocates work for the buyer exclusively to ensure that the buyer gets the best property, for the best price. Transforming an ordinary purchase into exceptional results, is our job. Avoiding mistakes that most buyers make, is our job. Making our clients richer, is our job. Nobody can beat what I do for them. That is the challenge. That is why I love what I do.
Thank you for the years of support from clients and friends.