> The Best 5 Questions to Ask Estate Agents to Get
Them to Bring Motivated Sellers to You. Part 1.
This is taken from the new updated 4th edition of
Simon Zutshi’s, No 1 Amazon best seller “Property
would think that estate agents would be an excellent
source of motivated sellers. After all, the estate
agents will know when a sale has fallen through,
or if the seller needs to sell in a particular hurry.
is all good in theory, but I often hear investors
complain that they cannot get any good deals from
estate agents because the estate agent has a shortlist
of investors who they call first whenever they get
a really good deal. Generally, this is true and
so many investors don’t bother to look for
motivated sellers at estate agents, because they
think the agents will give all the best deals to
an investor, one of your goals should be to get
on your local Estate Agent’s shortlist so
that you are one of the people they call whenever
they get a good deal. The mistake that most amateur
investors make is that they walk into an estate
agent and ask the estate agent for all their motivated
sellers explaining that they want to buy property
20% or more below market value.
response to this most estate agent would usually
roll their eyes, think ‘here is another one,
I have heard this all before. Another, know it all,
time wasting investor!’ As soon as the amateur
investor leaves the office their business card will
be promptly filled in the rubbish bin and the estate
agent will never think of them again. It is no surprise
that most investors struggle to get great deals
from estate agents.
of asking the estate agents directly if they
have any motivated sellers, which may not get
the response from the agent that you want, there
are five specific questions you can use to identify
the circumstances which might mean that the
sellers are motivated.
are the 5 questions to ask estate agents:
Do you have any empty properties?
There are four main reasons why a property could
be empty: If the property looks a bit trashed it
could be a repossessed property as often they are
damaged on the way out by the previous owner who
understandably could be bitter about the repossession;
If it looks dated and in need of modernisation (often
with some furniture left in it) it could be a deceased
estate as probably someone has lived there for a
number of years and not made any improvements to
the property; If it is in good condition but empty
with no furniture then it could well be that the
seller has already moved to a new property whilst
trying to sell this one; And finally, if it looks
a bit tired and is being sold with some furniture
in it then it may well be a former rental property
that a landlord is selling. In all four cases, as
the property is sitting their empty, the seller
could be motivated to sell at a good price.
Do you have any property that has been on the market
a long time?
This question will identify properties that are
just not selling. Maybe the price is too high or
something about the property is putting off potential
buyers. It may well be that a sale had been agreed
and has fallen through on the property, which might
make the seller even more frustrated. In any case,
maybe there is some scope for a discounted offer.
You can track changes in property prices by using
website like www.property-bee.com
Do you have any properties where there is more than
one agent selling it?
Often sellers will list their property with two
agents or more agents in an attempt to find a buyer
quickly. They may not be willing to sell at the
price you are prepared to pay but it is certainly
worth a look. The agent may be worried that they
will not earn any commission if the other agent
finds a buyer and so they may ne more motivated
to work with you to find a win win for the vendor
Do you have any properties that are listed for sale
and or for rent?
You often find that people are keen to sell their
property but will consider renting for a while if
they are unable to sell. This is perfect for you
if you are looking for Purchase Lease Options where
by you rent the property out with the right to buy
in the future. We would normally pay the Estate
Agent their fee at the time we sign the contracts
otherwise they will not get paid until the end of
the option period which could be several years and
so may not be very popular with most agents. Remember
the agent needs to see what is in it for the them
and the seller if you want them to agree to anything
slightly different from the norm.
Do you have any sellers who keep calling the office
to see if there is any news on their sale?
This is a sure sign that the seller is getting desperate;
every few days they call the estate agent to see if
there is any news. Often the seller will not tell
the agent the full details of their situation but
this behavior is a sure sign that they are desperate
to sell and so there may be a deal there. This person
may be starting to annoy the staff in the agency and
so when you ask this particular question often a particular
seller will spring to mind!
the second part of this article I will share with
you what to do once the Estate Agent has given you
a motivated seller lead as a result of asking these
learn more about successful property investing you
may like to buy Simon Zutshi’s “Property
Magic” on Amazon.co.uk