Sourcers....!


 Sourcers:


If you are starting out by going via estate agents...


Get an investor first, understand their brief, get their POF, get them to agree to your terms and then offer on their behalf (if you must go via estate agents that way).


Anything else is a con-trick really and isn’t the way to approach things.


As an agent (of sorts), the amount of unprepared sourcers that make offers or viewing requests with us weekly is ridiculous.


There’s enough good direct buyers out there for decent deals that I’ve asked my brokers in the office to ask immediately “is this property for you?” - in most cases these days estate agents don’t need to bother selling via a sourcer because they’ll already have direct local buyers.


So, your job as a sourcer is to learn where to spot value where others can’t, to learn the art of negotiation better than most, to make sure you perform and only offer when you 100% know you have the buyer in mind and onboard prior. You need to make the estate agent want to do business through you due to you performing and making it easy for the agent.


Your job as a sourcer is not to make fake offers via estate agents and then ask for the listing to be removed from Rightmove so you can put a post up in ‘U.K. property deals’ on Facebook and mail it out to the 130 people on your mailing list (126 of them being other sourcers who will then email the same ‘deal’ to their mailing lists but add on £2k to the fee).


If you must go via estate agents to get properties for your investors then you must play with a straight bat otherwise it’ll backfire either between you and the agent, you and your buyer or when you get shafted by other investors because you have no security over the deal.


Get your exact brief from a serious investor, get their permission in writing to use their POF, earn your fee by adding value in the whole process or sourcing, sales progression, problem solving, viewings, measure ups, tradesmen meetings, etc.


Always remember that the vast majority of properties that you’ll be looking at online will sell quicker and easier to direct buyers - if we get an add value properties (refurb, potential HMO conversion etc), seriously, there’s hundreds of direct buyers that enquire on the first day of it hitting Rightmove and this doesn’t include the other investors that try and approach the vendor directly to make offers or the off-market contacts we have and we’re not unique.


Estate agents don’t need you.


But, it won’t take long (if you perform) for the estate agent to call you when they’ve just valued a property or tip you off about new listings and it won’t take too long for your investor/s to chat to their network about the good work you’ve done.


Then you’ll get bogged down being a project manager and stressing about builders, project delays, budgets and material shortages but we’ll leave phase 2 of the life of a sourcer until next week.

Location: Shrewsbury, UK

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