What’s so important about having a client strategy?
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Having a goal without a roadmap is like trying to drive from Melbourne to the back of Bourke on instinct alone – highly unachievable, bound to get you lost and with no clear gain for anyone involved.
So too is the idea of a buyer’s agent expecting a client to invest in the Australian property market without having a clearly defined strategy.
You’ll work with people wanting to get in and out quickly – seeking great value, highly appreciable properties they can maximise profit from on a short-term basis, either through renovating, rental increases, subdividing or a mix of the above.
Then there’ll be investors who are in it for the long haul – buying properties that will quietly tick away until the owner is ready to cash in for maximum returns and retire.
Underpinning these goals is your capacity to get a true understanding of how to get the best outcome for your client – their tailored strategy.
And nailing that strategy – by clearly communicating the benefits of a well-defined plan – is key to setting yourself apart from your competition.
On top of understanding your client’s financial objectives, it’s essential to get an understanding of their cash flow – ensuring a realistic outcome matched to their risk tolerance.
You’ll achieve this by identifying potential risks such as market fluctuations, interest rate changes and variable vacancy rates.
Your job will be to develop mitigation strategies that manage these risks to ensure investments align with your client’s comfort level.
Identifying the right property is also key – factoring in property type (eg an apartment, strata unit, standalone dwelling), geographic region, buying capacity, potential for appreciation or rental yield.
We cover these topics and more in our Buyer’s Agents Courses – designed for existing licensed Real Estate Agents to elevate their expertise and learn to identify top properties for Australian investors.
Keen to find out more?
Join the waitlist for our next Buyer’s Agent Course launching Tuesday, 28 May, 2024.
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