Trusted property planners will keep you focused on building your portfolio property and management.
Eight noteworthy points of a Trusted Property planner
A good quality property planner has a number of key characteristics:
• Impartiality: A good property planner is impartial and provides advice that is in their client’s best interest rather than being motivated by commission or other incentives.
• Experience and expertise: The property planner has a deep understanding of the real estate market, as well as knowledge of other asset classes. They can provide expert advice to help their clients make informed decisions.
• Transparency: Property planners are transparent about their fees and services and clearly communicate their approach and strategies to their clients.
• Clear goals and objectives: A good property planner will work with clients to establish clear goals and objectives and provide a plan to achieve those goals.
• Communication and accessibility: A good property planner is easy to communicate with and is always available to answer questions and provide updates to their clients.
• Debt management: A good property planner will have a debt management strategy to ensure that equity is built into the investment, regardless of any speculative gains.
• Evidence-based decision-making: A good property planner will have a proven track record of making successful investment decisions based on data and evidence.
• Long-term focus: A good property planner will have a long-term focus and look to build sustainable growth for their clients rather than make quick sales.
A note from your trusted property planner and buyers agent
Let’s take a closer look at the general characteristics of a property spruiker
A property spruiker is a slick salesperson who uses emotionally persuasive language to make a weaker argument appear stronger. They often run seminars and are paid by the sellers to clear their stock. One of the key characteristics of a property spruiker is their use of scarcity, making it seem like a limited opportunity is available to the prospective buyer. However, it is important to note that a spruiker’s main objective is not to provide long-term, sustainable growth for the buyer but rather to make a quick sale.
On the other hand, a property planner or buyers agent is someone who is not beholden to anyone but their client. They will discuss their fees upfront and provide impartial advice on what real estate is best for their client. A property planner will also have a debt plan in place to ensure that equity is being built into the investment, regardless of any speculative gains. They can also assist with other asset classes to best meet their client’s goals.
In contrast to a spruiker, a property planner’s main objective is to provide long-term, sustainable growth for the buyer and to demystify what the wealthy have been doing for thousands of years: locking in a return on investment without the need for speculative gains. It is important for buyers to work with an impartial and trustworthy property planner to avoid being taken advantage of by a spruiker.
What is the best way to build a property portfolio with a property planner?
The best way to build a property portfolio using a property planner would depend on your individual financial situation and investment goals. Some general steps that may be helpful include:
1. Setting clear investment goals: Establishing your financial objectives, such as cash flow, capital growth, or a combination of both, is a crucial first step in creating a successful property portfolio.
2. Conducting thorough research: Researching different markets, neighbourhoods, and property types is essential in identifying properties that align with your investment goals.
3. Creating a diversified portfolio: Investing in a range of properties, such as residential and commercial, and in different markets can help reduce risk and increase potential returns.
4. Seeking professional advice: A property planner can provide valuable advice and guidance on the best ways to achieve your investment goals and navigate the property market.
5. Continuously monitor and adjust the portfolio: Regularly monitoring the performance of your portfolio and making adjustments as necessary can help ensure that it remains aligned with your investment goals.
It is important to remember that building a property portfolio is a long-term investment and it is essential to have a clear and well-thought-out plan in place.
Not Every Property is Going to be Ideal
After you have spent some time in real estate, you will be able to pick the agents who are in the game purely to sell a property for the sake of selling it. As a buyer, you want an agent who is transparent about the property’s condition, the value and who knows the suburb inside and out. Honesty is integral(*2).
As a new investor or an investor exploring a new neighbourhood, the last thing you want is a property spruiker telling you every single property is perfect and scarce. Always best to remain calm and have your trusted property planner by your side to guide you with the best advice.
References *1. Mentor1 Property. How Investment Property Reduces Tax Burdens and Save - 1 Minute Mentoring. Sydney, NSW. YouTube video. 2022. *2. Kaplan Real Estate Education. Top Ten Traits Of A Real Estate Agent. 2019.