Ask the team – here is the “A” to Your “Q”
Property Investor Joline asks
“I see Buyers Advocates go in and out of properties really fast. What are they actually doing? Are they just going in to scare off the competition or to get onto the buyers register?”
Lisa’s Response
When a Buyers Advocate inspects a property, our inspections usually take anywhere between 3 and 5 mins on average. Because of years of experience analysing and inspecting properties it is very simple and easy for a buyers agent to assess and take in a lot of information about a property quite quickly.
It may seem impossible to really know what a property offers inspecting a property that fast, however when we inspect as many as we do each week for our clients it really does become second nature. Despite it appearing that we are not looking at anything specific at all, the opposite is true.
We have a physical checklist of specific things we are looking for. For experienced advocates, most can mentally tick off every item as we walk around a property. Some advocates will take a note pad or the checklist inside with them and use it as a reminder to check everything off the list, however many experienced agents retain most of the important data after an inspection as it has become second nature.
There are times where a property will require much more of our attention.
For example:
- When a property is in rough condition and we need to see if the presentation is surface or skin deep (meaning hidden costs to our clients)
- When a property has a dis-jointed floor plan and requires a little extra time to evaluate if it can be amended easily and in a cost effective manner.
- We see signs of damage and investigate further
- Occasionally we really want a property to be better – we may love the street, the location or style of the home but for some reason it’s just not cutting it. So we spend a few more minutes really checking in to see why the property is not feeling right and if we can fix it.
- Taking additional time in a property allows us to build rapport with the agent if a pre-established relationship has not already been formed – rapport means better deals and advantages to our clients so it is always high on my list of things to do while at a property.
How you can inspect property quickly and get through more properties in a day?
- Checklist – Know exactly what you are looking for and why. Write it down and check it off as you move through the property
- Just No – if a property is an instant no, walk away. You don’t owe the property any more of your time. “Next”
- Repetition – the more you get used to looking at property the better you will become at it. \
- Knowledge – Know what is considered normal and acceptable for the area and the property type you are looking at (often this comes with experience and asking smart questions)
- Ideals – Learn how to eliminate non-ideal properties from your internet research. So many people waste precious time inspecting non-ideal properties that should have been eliminated from the inspection list the moment they viewed the listing. Get ruthless with your shortlisting and save yourself time.
Repetition and confidence is key.
If you would like to learn more about assessing properties look up some courses, read a book or if you would feel more confident hiring a professional to make it easier and faster for you, let us help you. We offer a range of services to suit buyers needs. Book your free consultation with our team by filling in the yellow form directly below. It is quick and will take less than 60 seconds.
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