Finding Agents That Buy and Manage Properties

Hi Ozbargainers!

I hear that many use agents and buy properties remotely during the covid times and it has worked well (not just because of booming house prices but how convenient it is). I am in a boat where I am looking for a property (Investment/PPOR). I am afraid to make such a commitment with an agent and was wondering if anyone else in Ozbargain community had an experience they can share in buying and managing properties remotely?

First off, how did you find one? What things did you ask the agent? How was the process since the inspection to making the offer to signing the contract? How did it go later when it came to managing assuming you bought an investment property in this fashion?

I looked up a few forms e.g, propertychat, whirlpoot etc.. and there are quite a lot of agents active here from all aspects but still not confident in approaching one. There is a huge amount of trust I believe that is required here but a lot of folks seem to have done it with ease. What is the secret here?

Cheers,
Dr-SL

Comments

  • I looked up a few forms e.g, propertychat, whirlpoot etc.. and there are quite a lot of agents active here from all aspects but still not confident in approaching one. There is a huge amount of trust I believe that is required here but a lot of folks seem to have done it with ease. What is the secret here?

    I would have thought one absolutely necessary way of building trust is by talking to a number of these agents and determining which ones are going to suit your needs based on their approach, the services they offer (and don't offer), and their track record of results.

    Remember though, that no agent is ever going to be able to guarantee you a result. If a property goes to auction, it will be sold to whoever places the highest bid. The value of your property after you buy it is dependent on overall market fluctuations. The ongoing return from that (thinking more investment side) will again be a function of a number of variables including the local and overall rental market, the state of the property at the time of purchase, and its overall cost of go forward maintenance.

    There's no real short cut to a no/reduced risk purchase. You still have to do a lot of legwork, it's just that you can outsource some of that to an agent in the way you are getting at.

  • +1

    I wouldn't trust a real estate agent to tell me which property is a good buy. It's likely to be a property already on their books and then it might just happen to be the one they've been having trouble selling!

    Do your own research on what suits you.

  • -4

    I did this. DM for details.

  • Lol, agents will be selling and buying from their own portfolio. Same stock just churn a couple of times.

  • You want to find a buyer's agent, not a normal real estate agent. Then after you buy the property find yourself property manager.

    Just make sure the buyer's agent is independent and not receiving kickbacks from the agent/developer.

  • I am in a boat where I am looking for a property

    You live in a boat?

  • Never trust a newspaper about what really sells for money actually paid. Like any investment portfolio there are more traps than honest people.
    Either you take time to learn real building quality and the region's average tenant or you are better off investing into shares.
    Privacy rules make it nearly impossible to screen good tenants. Aus property is already way too overpriced and the good deals have scores of bargain hunters after them.
    Words like caveat emptor need to be taken seriously.

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