Selecting the right property investment agent from day one can be an invaluable resource for any investor. They act as your eyes and ears to ensure you don’t miss out on the latest opportunities, and they do the hard work behind the scenes so you don’t have to.
There are several key traits you should look for when working with an agent. Many agents mean well and carry out their roles to the best of their ability, but when it comes to investing your hard earned money, we believe a hard working agent is not enough. Your agent should have expert knowledge of the market combined with certain skills and characteristics, which we will highlight in this article.
Expertise & Knowledge
The major difference between a good property investment agent and great one will be their ability not just to put an opportunity in front of you, but to have the knowledge to explain why you should consider the investment for your portfolio.
A prime example of this is having good knowledge of the area where the property is located. A property agent should be able to present a strong investment case including:
- local regeneration projects which will benefit the property for years to come
- rental figures
- comparable property prices
- tenant profiles
- growth figures
- an exit strategy
The answer to these questions can determine the success of any property purchase. If an agent is able to provide you with the answers, this is always a positive sign that they have put in the extra effort with their due diligence.
Honesty & Transparency
A major factor when choosing your agent is identifying if they have your best interests at heart. The opportunity presented to you has to work in your best interests, and no agent should try to persuade you into making a deal you’re not 100% comfortable with.
Taking the time to discuss your investment goals should be the number one priority. An experienced agent will listen carefully to your needs, so they can identify the right path to go down. By having this open discussion first, you are unlikely to be offered deals that do not match your requirements.
If property investment agents immediately starts discussing products and prices without taking this first step, they’re clearly putting their own welfare over yours. In some cases, you may have an investment in mind that could turn out to be unsuitable for you in the long-term. Instead of proceeding with the deal, a credible consultant will highlight the potential pitfalls. They may even be able to find you a similar yet more stable investment opportunity, ensuring your finances are better cared for.
When you decide to work with property investment agents, it is important to consider the experience they have. Asking them about their experience and track record, might sound a little intrusive, but this information will help set them apart from the rest. You want to know when you make an investment, you are in safe hands. Many agents can sell you a property; that’s the easy part, but finding an agent who will stay around and provide you with extra customer service is not as easy to find.
Agents should be able to confidently talk about previous developments they have sold, and highlight how they helped clients in the past. If they have done a good job, they should already have a number of repeat buyers, who will be happy to share testimonials. If they are unable to provide you with the basics , then you must question if they are a right match for you.
If you’re considering investing, you want some reassurance on who you are working with. Knowledge and customer service can only go so far, and it’s the experience factor the agent brings to the table that ensures you invest in the most profitable properties.
An agent’s connection and network goes a long way in this industry. If an agent is well connected, they are more likely to be up to date with the latest developments in the market, sometimes even before they come to market. Having the inside knowledge before the rest, can put you ahead and in many cases giving you the opportunity to secure the best options.
It is also important, a property investment agent is proactive and not reactive. They should be able to give you up-to-date industry news, knowing where the latest emerging buy to let hotspots are and any market changes.
Go with your instincts; they are normally right. If you feel comfortable and confident your agent will go the extra mile, then there is no reason not to work together.
Where to Find the Best Property Investment Agents
If you are considering making your first property investment in the UK or Dubai property market, Renaissance Investments is a highly trained team of experienced property professionals. We have a consultative approach to the market and have established a market leading property service, covering every part of the purchase process.
With our experienced team, we have access to some of the very best property deals, creating property portfolios for clients around the world.
Speak to a member of the Renaissance Investments team today to start your new property venture. We specialise in helping international investors find success in the UK and Dubai property market, and we have many exciting opportunities available to discuss with you.
For more information on the UK property market, make sure to read the articles available now on the Renaissance Investments news page.