Bringing The Power Back To The Buyer

by Ben Handler

April 25, 2024

Michael Simms has always been passionate about property and was searching for a way to turn his enthusiasm into a career.

After initially starting out as a sales agent, Michael realised that he was a lot more comfortable working with buyers and helping them.

“The sales side didn’t fill my cup,” Michael says.

“I had this passion to help people and a passion for property so I was looking for avenues and ended up as a sales agent for a very short period of time.

“I actually didn’t really like the sales side and I much prefer evening up that power balance and the negotiations on the buy side.”

Michael started out his career as a buyers agent on the side and slowly built up his client list and his confidence.

He was able to land some clients very quickly and focused on building his network.

“The process of getting up and running was not as stressful as I expected,” he explains.

“I was really fortunate I had a client within the first couple of months that jumped on board, which gave me a little bit of a kickstart and that led into the second and third, not long after.

“So I had a bit of a platform to launch from.”

Michael says that keeping his day job when he started was critical to making a smooth transition.

“It meant I had a little bit of security behind me and I wasn’t as stressed that I had to get clients immediately,” he says.

“That made a bit of a difference from a mindset point of view as well.”

His buyer’s agency, Simms Property Group, focuses on helping owner-occupiers in the Melbourne and Geelong area as well as investors from right around the country.

He says his strategies for investors depend on the client’s requirements.

“If I’m looking for instant capital growth I’m looking at established properties,” he explains.

“I’m not interested in the off-the-plan brand new stuff where there’s an overkill of supply.

“I want something in an established area that’s got proven data.

“I want at least 10 years of data that says the area has grown by at least six and a half percent, which is my benchmark.

“If it’s a higher yielding asset, then we’re looking for maybe even rooming houses and those sorts of assets that are up around that 8 percent yield.”

Michael worked with the Buyers Agent Institute (BAI) and says that the entire program had him on track instantly.

“It really is very simple, it is a business in a box,” he believes.

“I jumped into Leverage, I jumped into Agent Mate.

“All your leads are coming through and are taken care of in the back end so it’s fully automated.”

Michael says that being a part of the Everest program and working with the coaches was also critical to getting him over some of the mental hang-ups that were holding him back.

Looking forward he is hoping to keep growing his business.

“I would love to have at least one buyer advocate working with me so we can scale,” he says.

He says that for new agents coming into the industry, he would recommend keeping your day job initially.

“I know of a couple of people that left their job to pursue this, which is exciting, but there’s a lot of hard work that people underestimate,” he believes.

“But be prepared to put in the work.

“Plenty of people are going to say ‘no’, but that’s OK.

“Just get back on the horse and move on to the next one or find out why and if there’s a way we can get around it.

“Don’t take it too personally because you’re going to get plenty of no’s.”

 

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