{"id":4759,"date":"2015-06-15T01:00:23","date_gmt":"2015-06-14T15:00:23","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=4759"},"modified":"2015-06-15T01:00:23","modified_gmt":"2015-06-14T15:00:23","slug":"how-to-find-properties-before-they-hit-the-market","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/how-to-find-properties-before-they-hit-the-market\/","title":{"rendered":"How to find properties before they hit the market? – Ben Kingsley"},"content":{"rendered":"

 
\nOne of the tricks is being able to find a property before it even hits the market. How do you go about doing that, and how do you make sure that you\u2019re not paying too much? Today we talk with Ben Kingsley<\/strong>,\u00a0the CEO and founder of Empower Wealth.
\n <\/p>\n

Transcript:<\/h4>\n

Kevin:\u00a0 <\/b>Ben Kingsley joins me once again. Ben, of course, is the CEO and founder of Empower Wealth. They specialize in finding the best buys for their clients no matter where they are in Australia.
\nOne of the tricks is being able to find a property before it even hits the market. How do you go about doing that, and how do you make sure that you\u2019re not paying too much?
\nBen:\u00a0 <\/b>It\u2019s a good question, Kevin. I remember when I was 23 years old and I was just getting into the property space. I actually did a letterbox drop around the area that I identified that I wanted to buy in. I can tell you that I dropped about 600 pamphlets into different letterboxes, saying, \u201cI want to buy your house,\u201d and I had two people call me and say, \u201cWho are you? What do you do?\u201d That\u2019s the hardcore approach.
\nThere are a couple of hardcore approaches. The first one is that letterbox drop, and the second one, which is a little bit more adventurous, is looking at family courts and seeing some of those divorce settlements going through. Those usually result in a sale transaction of the family home.
\nThey are certainly some more adventurous ways, but the traditional way that you\u2019re going to find off-markets and what we call pre-markets is just talking to the agents in the area. Ultimately, they\u2019re the ones who are still going to have control of the majority of buyers who are coming to the marketplace.
\nWhat I talk about when I say a pre-market sale is I\u2019m talking about the agents who are just about to bring a listing on, or they\u2019re just signed up, and the boards haven\u2019t gone up, and the photos haven\u2019t been taken. Usually in those cases, the agents will allow seasonal buyers such as buyer\u2019s agents and the like the opportunity to go through the property, or they might have also a VIP list of clients ready to buy that they send through the property.
\nYou don\u2019t want to be a stranger to the local agents in the area that you\u2019re looking to buy in. It doesn\u2019t necessarily mean you have to tell them exactly what price you\u2019re ready to pay \u2013 we need to keep some of our tricks up our sleeve \u2013 but ultimately letting them know that you\u2019re an active buyer in the area is really important.
\nKevin:\u00a0 <\/b>It\u2019s long-term, isn\u2019t it? I talked there in the title about trying to buy a property before it actually hits the market. I guess, there\u2019s no such thing really, because it only ever hits the market when you have a willing seller. I guess the trick is to be there when they make that decision.
\nBen:\u00a0 <\/b>Yes, it is. Ultimately we still hear stories about people getting an opportunity to buy the property down the road because they know the local neighbor or they\u2019re involved in the golf club, or the RSL, or something like that. Someone wants to sell the property, and they\u2019re thinking, \u201cI\u2019ll cut the agent out of that conversation.\u201d
\nBut in terms of those properties, those transactions are very small and few and far between. The reason for that is if I was wanting to sell my property, I want to get the best price possible. Usually the best way to do that is to get a marketing campaign behind me. It\u2019s not easy to sell a secret, so you want to get the message out there to market.
\nComing back to the point I was making, if you really show that you\u2019re a keen buyer in a particular market, and you\u2019re talking to the local agents in that area, they\u2019ll get you through a property very quickly, because they also want to show their vendors that they do have buyers ready to go.
\nKevin:\u00a0 <\/b>The great agents, no matter where they are, will be very quick to tell you that listings don\u2019t just come on and they get them; they actually put a lot of time and effort into getting them well before they come onto the market. You just have to be patient, do your homework, and as you said, spread that network far and wide.
\nBen:\u00a0 <\/b>That\u2019s right, Kevin. Once you identify the area that you want to buy in \u2013 coming back to the point we made \u2013 it is about talking to those agents, and finding those agents that have got the most listings, and building a relationship with them to see when the right asset does come up, you can strike at it.
\nKevin:\u00a0 <\/b>Ben Kingsley from Empower Wealth. Thanks for your time, mate.
\nBen:\u00a0 <\/b>Pleasure, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"

  One of the tricks is being able to find a property before it even hits the market. How do you go about doing that, and how do you make sure that you\u2019re not paying too much? 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