#21 – If You’re Good Enough, You’re Old Enough With Henry Single

Many young individuals having experience in various fields specifically construction and property are fast becoming Buyer’s Agents in Australia.

Being a successful Buyer’s Agent requires a passion for property, dedication, and great mentorship. One such agent is Mr. Henry Single, who started his career working as a Buyer’s Agent for a firm, and has started his own company.

This blog focuses on his journey of becoming a recognized Buyer’s Agent in Australia.

Young and focused

At 25 he has already worked 8 years in the industry. His focus and strong work ethics are exemplary. Not only did he work as a Buyer’s Agent but after some time switched to sales and became a real estate agent.

Being on the sales side gave him valuable experience. It has taught him to be a great negotiator and enabled him to add value to his clients

Buyer's Agent handshake
Buyer’s Agent handshake

The relationship with a real estate agent

During his time as a real estate agent, Henry recognized the importance of having a good relationship with real estate agents. Sales agents know all the property and it’s through them Buyer’s Agent get access to the stock.

Having a mutually respectful relationship is essential in marking out the best areas and streets. Buyer’s Agents need real estate agents. You need to nurture this relationship so that you can get the best deal for your clients.

The need for Buyer’s Agent has exponentially grown during the past 5-7 years. At first, it was about educating people about what a Buyer’s Agent is and how they add value. Now people have recognized the unique ways Buyer’s Agents provide services.

Tricks of the trade

The key to making it big as a Buyer’s Agent is hard work and relationship building. Property is a very lucrative business. Not only that you have to build a good relationship with the sales agent but also your client.

Many a time’s one client will refer you to their relatives, colleagues, and peers. It is through these referrals that you truly start establishing yourself as a recognized Buyer’s Agent.

Person running their own business with computer & documents
Person running their own business with computer & documents

 Running your own business

Now, Henry has started his own business at the age of 25. He has split his business into 2 chapters. Primary residence and investment side. Both sides have different clientele and he caters to them separately. He has experts in both fields.

His firm is interested in both local and nationwide properties. The goal for 2020 is 40 investor transactions and 30 primary residence transactions. He has 3 staff members working for him who he also trains to become Buyer’s Agent.

More recently he has turned his focus towards properties near beaches and this decision has been transformational to his business. His philosophy of “The harder you work the luckier you get” has allowed him to close investor clients in mere 3-5 weeks. Now he wants to add more staff and expand his operations.

Henry’s advice to people who are caught up in the employee grind “If you are not happy and satisfied with your work they get up and move”. People who are stuck in dead-end jobs and slaving away need to unshackle themselves and explore the lucrative option of becoming a Buyer’s Agent.

Listen to the full podcast below.

How the Hammer Falls – State by State

State by Sate ; Australian Auction

The great Australian dream is a common goal right across the nation, however, the way we realise that dream at auction can vary between state lines.

To make it simple, we’ve put together this short, sharp and succinct article that walks you through the legislations and auction procedures, state by state.

New South Wales

Pulling the reins in

NSW, particularly Sydney has long been known for its healthy property market.
However, up until recently, underquoting by agents presented a lack of transparency in many property sales. Today, this practice is illegal and agents must provide evidence-based documents that support all property appraisals. That’s a good thing for all parties!

In fact, fines of up to $22,000 can be slapped on agents who advertise properties with muddy price guides (such as offers above $xxx).

At an auction in NSW, buyers must register to bid and a Vendor can only place one vendor bid per auction.

Victoria

Come one come all.

In Victoria, there are no limits to the number of bidders at an auction and bidders don’t have to register. So it’s ‘come on in!’
There are also no limits to the number of vendor bids made on the day.

Here, cooling-off periods are a little different when it comes to pre-auction offers.
If a buyer makes an offer and the offer is accepted within 72 hrs of the auction, the buyer waives their cooling-off period rights.

Also, unlike other states, Auctioneers do not need to hold individual auctioneer licences.
All that is needed is an agent’s representative certificate and it’s game on.

QUEENSLAND

Sunny but Strict

In the Sunshine state, presenting price guides to buyers in more than just a no-no, it’s illegal. While a property can appear within a price range search online, the website must declare that is not intended as a price guide.
It’s also important to note there is no cooling-off period in Queensland if a private treaty contract is entered within 48 hours of a passed-in auction, or if the buyer was a registered bidder at the failed auction.

At Auctions in QLD, buyers must register and get a numbered paddle that identifies their bid. Without it, a buyer can’t participate.

Unlike other states, a vendor is not required to have a reserve price. However if the vendor does indeed choose to then it must be put in writing prior to the auction. It’s important to note the auctioneer does not have to announce when the property has reached this price.

Finally, auctioneers must have an auctioneer licence as a real estate agent licence alone is not acceptable.

South Australia

Southern Comfort for Vendors

 Like in most states, buyers in SA need to register to bid at auctions as well as present photo ID. (When was the last time you got carded?)

When marketing a property for auction, agents do not have to provide any price guides and can simply refer to recent sales of similar properties to guide buyers instead.

If a price guide is made, the reserve prices cannot exceed 110% of the Vendor’s reserve price set before or during the auction. For example, if the vendor specifies $500,000 as the acceptable price, the reserve cannot be set greater than $550,000.

A cooling-off period does not apply if a sale is achieved on the auction day, even if it doesn’t happen under the hammer. Also good to note is that auctioneers must be registered auctioneers and vendors can make up to three bids.

Western Australia

Not the wild west.

WA does things nice and neatly. Here the auctioneer announces the particulars and conditions of sales of freehold property form before bidding can begin.

When it comes to vendor bids, the rules are generous but not unlimited and sees vendor bids capped at 10 per property.

The system here encourages as many bidders as possible, making it easy seeing they do not have to register.

Northern Territory

No Vendor Bid Limits

In the NT Auctioneers must hold an active auctioneer’s licence in order for a property to be sold. It’s important to note too that a pre-auction offer will forgo any cooling off period.

When it comes to the auction, vendors must establish a reserve price before the auction begins. The auctioneer must not reveal it however there are no limits to vendor bids as long as each is disclosed to buyers.

Tasmania

A Tree Change for Many

2018 and 2019 saw a spike in house sales in Tasmania, making the island a very attractive place to be.
Private sales via contract are more the norm on the apple isle, however when it comes to auctions some rules seem familiar.

Interested parties must pre-register before bidding at auction and there are no limits to how many vendor bids can be made

Across the Nation

When it comes to auctions, there are a few key rules that are applied across the board throughout Australia.

  • Non-genuine bids aimed to raise the bidding momentum are known as Dummy Bids. They are illegal in every state, so don’t even go there!
  • At the auction, the Vendor will have a reserve price in place. When the bidding reaches that price, the property is declared ‘on the market’.
  • In the case where a property fails to reach its reserve price, the highest bidder has the first right to negotiate an agreed-upon price.
  • Once the hammer goes down, a deposit is paid and contracts are signed immediately after the auction ends.
  • A vendor has a right to place a bid on their own property, however, the vendor bids must be made known to buyers.

Have you considered turning buying property into a career?
To find out more, come and watch this free web-class:
Watch the Free Webclass Here

To find your nearest Buyer’s Agent, Click here:

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How to Build a Lifestyle by Design

Build A Lifestyle By Design

Jack Henderson:

Look, I wasn’t one of those people that hated my job. It brought me a good lifestyle and a lot of money. Um, and I enjoyed what I did, but now I sort of jumped into the buyer’s agent space part time for a few months I had to get into financial stuff in order, you know, with the properties and stuff like that. Jumping out of a career into uh, your own business, essentially you need to get the ducks in a line. So once I was doing it part time, I was tasting what the freedom felt like and that’s what got me even more hooked. And now I do it mate full time every single day. I work seven days a week, but it doesn’t feel like I work an hour. So it’s, it’s, it’s amazing.

Ben Handler:

Welcome to the buyer’s agent Institute show. The purpose of the show is to bring awareness to buyers agents to bring awareness to the career opportunities that the buyer’s agent sector is providing people to bring awareness around the value that buyers agents provide to people who need help buying property. Our goal with the show is to strip back and dive into the stories around the remarkable buyers agents who are paving the way forward in one of the fastest growing career sectors in real estate right now. Our guest today is young Jack Henderson. He’s 23 years old. He left school when he was 15 years old. He then jumped in with his old man and worked in the construction industry at age 18 he bought his first property at 20 years old. He then jumped into the mining industry where he was a machinery operator and during that time, up until now, he’s bought multiple properties and owns a multimillion dollar portfolio.

Ben Handler:

Jack right now is living his hobby. He’s currently a buyer’s agent. It’s released. Associates said, today we’re going to dive into his journey today. I’d like to introduce Jack Henderson. Welcome, mate. Thank you very much for having me, buddy. Absolute pleasure to have you here. Thank you. Thank you. I remember our first conversation we had and you were still in the mining areas. I think you’re driving a truck, possibly. Yes. Hopefully you didn’t have a beer in your hand. Yeah. That would maybe maybe say yes or no, and I could just feel the enthusiasm with what you’d obviously achieved. I mean, at your age, not many people. I mean that many properties and I feel like are as driven as you are and you know, have been. And so I was just looking forward to the opportunity of seeing you get into the buyer’s agent. I quit the nine to five. I’ve quit the nine to five mate and I’ve even got the shirt to prove it. I love it. So machinery operator, I mean, I, what

Jack Henderson:

Is it? Um, so I was a plant operator. Is that the, the official title? Um, and it’s essentially operating the heavy machinery in the construction and the mining industry. So the excavators, the graders, the, you know, the shovels, all the rest of it. Why’d you leave school at 15? Uh, it wasn’t by choice. I got expelled from, from two schools. Um, I wasn’t, uh, specifically a bad kid. Um, I just, I just, I knew school wasn’t for me and my mentality has always been, I want to learn from people who are in the position. I want to be in. So I guess school has a vital part in the, the, the start of your learning career. Essentially. You learn the basics of mathematics and English and all the rest of it. But I believe you hit a point where you can go in two directions. You can try and, you know, move into a job where you need formal education, you need a qualification or you can take the other path and sort of blaze your own trail. And I knew from 15 that I did not want to go down the path of going to university and getting it essentially a job for life. I wanted to, um, do my own thing.

Ben Handler:

Right. I’ve had so many people on the show who like you left school early and have built such incredible portfolio, isn’t it? Doing really well with their lives. And it’s just, I’m a big believer that you just don’t need to go school and go through that whole system and go to university or TAFE to be successful. Right. It’s, it’s not required.

Jack Henderson:

No, I look for some people that’s what they want to do. Some people want to be doctors, lawyers, you know, accountants and you need the formal education. Otherwise it’s not possible to do that role or it’s a very, it limits your possibilities. Um, but look, that wasn’t the career for me. And essentially I heard a, I heard a saying once, it was usually that the AA students worked with the D students. So the D students generally own the businesses that the H students worked for. And that’s always been my philosophy is, um, you know, I know what I’m good at and what I’m not good at a high, someone that’s better at it than me and essentially it to people who go to university. So

Ben Handler:

I love it. And it’s true. A lot of it’s true. When I think about, yeah,

Jack Henderson:

Well, you look at the, you know, the biggest companies in the world and the most innovative companies in the world, and generally the leaders are not formally qualified. They know their vision and their goal and they know that what they’re, you know, pluses and minuses are, and that, and they, they weigh in on their pluses and, and outsource their minuses. So this property 18, what inspired you for that? I guess backing myself into a corner, essentially getting expelled from school. Um, you know, go on and work with my father. Although I was earning good money. There’s still that thought in your head to think like what happens if my vision doesn’t come true essentially. So I wanted to sort of gift myself, I guess a financial, um, you know, like incentive. So, you know, buy something that if something does happen, you get there, you have something there essentially. Cause I had no formal education. It didn’t have a qualification in like a trade or anything like that. So property for me was, I’m a dad’s ain’t gone buy your property because there’s a mentality in Australia that everyone should own their own home. Um, and the second thought to it was if, if something does happen to me, at least I’ve got a property essentially. Yeah.

Ben Handler:

What were you mates thinking? Obviously you left school early at 18, you snapped up the first property and then early twenties you obviously accumulated more. What were your mates doing and what they think?

Jack Henderson:

Look, some of them, um, uh, are still with me and some of them are not, to be completely honest, that my philosophy around friends is a lot different than a lot of people. I don’t believe there is a lot of people in world with real friends, people who are in your lives for a reason, I believe. Um, and when they don’t need you for that reason, they, they go their separate ways. And so when I started doing my own thing, you know, people didn’t really need me in their lives anymore. I wasn’t going to school with them. So I, I found out really early that um, friends are not really friends essentially. So it didn’t really bother me what they thought. I knew what I was doing and I knew what my vision was. So what anyone thought of me didn’t really matter to me. And even to this day, I don’t really have friends I, I’ve grown up with because we’re all in different parts. And once you’re not on that same sort of vision and path, you just sort of go your separate ways.

Ben Handler:

Why have you or what has really motivated you? I guess I want to, I want to live up to the [inaudible]

Jack Henderson:

Potential. I know I have myself, so my biggest driving factor is myself and that’s it. So I know the vision I have and what I want to achieve and I guess it’s proving it to myself because I don’t really care what anyone else thinks about me. I want to go to bed at night and know that look, you’ve done the best she can. If it works out, it works out. If it doesn’t, I want to know that I give it everything I had. And if it doesn’t work out and you can say, Oh, let’s, I try it.

Ben Handler:

Do you find people who are really drawn to your story? I mean you’re, you’re jumping on the phone, I’m sure right now as you’re a buyer’s agent, talking to people, looking to build portfolios or buy their family homes, and I’m assuming that you own more property than some of the people you’re talking to and you could be half their age. Are they inspired you feel like when they hear your story? Yeah. Look to be completely honest, the majority of [inaudible]

Jack Henderson:

People I’ve worked with so far don’t even know my story. They just, I’m hungry. Like I’ll ring anyone and talk to anyone and I’m knowledgeable about property and in my core areas. So to the answer, their question is the majority people I’ve worked with thus far don’t know my story, but I believe with building the personal brand is sharing my story. The amount of people that haven’t essentially been clients yet, but I get messages daily that are inspired by my throat. So I went for a coffee with a guy yesterday who was a very, very, very successful real estate agent in Newcastle doing mono, probably 120 sales a year. And I had no idea this guy even knew who I was and just laid everything out, how much I’ve inspired him. He was, you know, mentioning photos that I’d put on Instagram and seeing things that I’ve said. So it’s like you don’t realize how many people actually see what you’re doing, but there is many people that pay attention.

Ben Handler:

Yeah, yeah. I didn’t mention on the intro regarding your personal brand and what you’ve been doing. I think most people when they start a business go start featuring on podcasts and sharing their story, getting editorials. But I mean you were doing that inherently before you even became a buyer’s agent, getting a lot of air time. Has that helped you? Massively. Um, even in the position, I mean

Jack Henderson:

Now with trilogy associates that wouldn’t have been, I guess as easy but didn’t have the personal brand or the story. Um, you know, to share with them and, and like, it’s very strange. Like I’ve come into this industry and probably one of the most competitive real estate industries in Australia and people feel like they’ve known me for such a long time when essentially I’ve never met half of these people, but I’ve talked to people on a daily basis and they’ve seen me on social media for three or four years and they, they think I’ve been in the real estate sphere when essentially I’m, I’m, I’m, you know, brand new.

Jack Henderson:

Well, I guess, you know, people see regardless if they see you from afar or close up social media now you can feel like you’ve known some of such a long time and know them intimately and essentially I’ve never ever met them. And that’s the joy of social media now building a personal brand. When I started, it wasn’t strategic, I just did it because someone reached out to me and said, you want to share your story on a podcast? And I did it. And then the feedback I got from one podcast, you know, lit something in my brain to think if this is what I can get with one and magnanimity of 2030 40 and start leveraging off of other people’s audiences essentially. So I think I’ve done probably 20 or 30 podcasts before I even jumped into the industry. I’ve done that, you know, videos and all the rest of it. So my name and my face was a very familiar face in the real estate industry. And I guess people trust and believe me more now because I didn’t have anything to sell back then, I just tell my story. This is what works and this is what does not work. So believe me or not, it doesn’t benefit me. So I guess it built trust and now I’m doing it as a business. Um, it’s made that transition a lot easier.

Ben Handler:

Yeah. I see how people recognize you and remember you, I mean all talking before we jumped onto this shoot just around, I was meeting someone earlier just for coffee before having a chat and I said, I’m just catching up with Jack Henderson. He’s jumping on the show. And he said, Oh, who’s that dude that wears the shorts? And I said, he’s going to be wearing the shorts. They’re like, things I do.

Jack Henderson:

Um, you know, something that you’ve taught me actually is the purple cow mentality now. I’ve always been a purple cow. Not bye bye in a meeting to do it. Just, it just my personality. That’s how I am. It’s how I talk. It’s how I act. It’s what I wear. I’ve always been a purple cow, but now I’m doing it more consciously. So the shorts, yeah, it’s summer. Why would anyone wear a suit? Doesn’t make sense to me. But when everyone’s wearing a suit and you wear shorts and you wear colorful shoes and you wear colorful, you know outfits and you know, I have a videographer with me, things like that. If it makes, it’s a talking point. If you rock up somewhere with the blue suit that everyone else has got on, then you have the same haircut and you wear the same clothes and you have the same watch you fit in and no one remembers you well when you stand out and do things a little bit different. People remember you like, like that guy, I’ve never met him who spoke on a menu in my life, but for him to recognize me and then talk to you about it, you don’t, you don’t realize personally how many people actually notice those sort of things.

Ben Handler:

Yeah, I was reading in that a dating book awhile ago. I think it’s called the game or by Neil Strauss. I actually just tend to make use Tinder, but they call it peacocking. When you, when you stand out, you know, wearing something that really goes people’s attention. So those shorts, do you plan on wearing them over summer? Constantly. And I actually just spoke to my tailor on the way here. I was saying, mate,

Jack Henderson:

Everyone I meet says something about the shorts because no, there is not one real estate or buyer’s agent in this area. Oh, I don’t really want to have an Australia that were shorts because I don’t know why they think they have to wear suits. Like there’s some sort of legality around wearing a suit. I just think, well I’ll wear shorts because it’s comfortable. And now it’s turned out to

Ben Handler:

Have a talking point. Is it a Newcastle thing?

Jack Henderson:

A little bit of may. Yeah. They love it up there. The boys. No, but like I think there’s, there’s, there’s a fine line between peacocking and being an egotistical wine carer. Essentially. I’m not egotistical law. I’m the most probably down to earth person. I believe that you can come across. But if I can stand out, why not? And if people remember me, why not? I think it’s great. I mean, um, anything you can do to really, as you were saying that purple cow concept of really sticking out because there is so much noise, right? This, everyone’s posting content online, everyone’s doing the same thing. It’s, it’s around how do you stick out, right? And like even little things. So like everyone’s posting color pictures online. I do black and white. So you scroll through your Facebook or Instagram feed, color, color, color, color, color, black and my pops up.

Jack Henderson:

You stop and look at that. You know, I, I’m, I plan to have a car that’s signed, written. So when you drive past that car, you turn your head regardless of what you think, as long as you, you need people to notice you. Because as we move into, I guess this new economy, the only thing you are going to have is your personal brand because everything else is going to be commoditized. Essentially. Skills can be commoditized. Anyone can can learn a skill if, if you know your business shuts down your, your job is essentially very replaceable. Whether it be with automation, AI, everything is commoditized in this new world. The only thing that is not commoditized is your personal brand. And if you build a personal brand that’s not necessarily around real estate, just you and your life and real estate just happens to be a part of this journey.

Jack Henderson:

I can pivot into any industry I want because people know me for Jack Henderson, not as a real estate agent or a buyer’s agent. So true. What are the plans for Jack Anderson? 2020. Um, I have obviously some financial goals, which I’m very, very on track to doing. Um, my biggest personal thing is I want to hire my mum full time. Hi, your mom. Yeah. So my first two hires will be a full time videographer, so it’s five, seven days a week, whatever it is. I’ll have a full time videographer and I want to hire my mom. My mom’s more of a a meaning thing to me. So like, no, she’s getting to an age where she’s almost finished working. I’d love to bring her into my life and look, it’s not going to be the most dollar productive, you know, use of my money. But on a personal level, it’s going to be very meaningful to me to so she can, you know, work her final working, um, years close to me and watch me grow as a human being and watch my business grow.

Jack Henderson:

And I think it’d be a really special thing. And having the full time videographer is essentially, um, you can make yourself look a lot bigger, um, than, than a lot of the big businesses. And that, that that’s a huge gap in the market. I see right now is real estate is an industry that everyone likes in Australia regardless of if you’re selling, you’re buying, you’re renovating. That’s why shows like the block do so well. That’s why shows like your real estate, your million dollar, listen to York do so well. People love real estate. So I think, you know, someone in my position, I’ve walked through beautiful homes on an on an everyday basis. I met incredible people and we just think it’s so normal. So if I can document my daily life that people think is so incredible, that I think is so normal, I think, you know, brand and exposure is going to be huge and content is everything now. So that’s awesome. I think the ROI on having a full time buddy over for it will be through the roof.

Ben Handler:

That’s awesome. I mean to two key goals is obviously hiring your mom and get full time videographer and really building your personal brand. Exactly. And then look, I’ve got an end goal,

Jack Henderson:

Um, in mind and it doesn’t, it’s, it’s not as a buyer’s agent, I want to have a boutique development business. Um, and that’s a little bit inspired by Tim Gurner. I want to have, have a, there’s a lot of developers out there and they change every time they do a development of different names. So it’s this name, it’s that name. I want to have a brand that’s recognized there. If I call it the brand Henderson, when a Henderson building gets built in a certain suburb, you don’t say I live at 56 George street. You say, I live in Henderson Rose Bay. I want to build a boutique brand and inside that I want to have it that you do not need to leave that building. And I think moving into the world that we’re moving into, that’s going to be possible. Everything’s going to be your fingertips. You want the best chef in Sydney to come and cook for you and make it happen. You want anything you can think of? I think yeah, sorta like a, like a hotel facility, but in a residential building you’ve got gotta reserve me a lot there. But yeah, exactly. Yeah. That’s a few people on the list.

Ben Handler:

We intend to since starting,

Jack Henderson:

I don’t, I don’t know an actual date, but I think, um, and this is a little bit strategic as well in terms of in this industry, I’m going to meet a lot of people and those people are going to have to be in real estate and you know, you’re going to meet developers and I’m going to have access to a lot of property that the general public not gonna have access to. So as a client that’s very beneficial and personally that’s going to be very beneficial moving forward. So yeah.

Ben Handler:

What have you learned about yourself in the short period of time of leaving the mining space and now effectively you’re running your own business within a business? Are there any key things you’ve learned?

Jack Henderson:

Um, that’s not hard. Everyone’s lazy. I’ve learnt that like about the concept I had before moving into the industry. Like I work in the Eastern suburbs of Sydney and it’s, so it’s one of the most competitive markets. It’s probably where buyer’s agents are most accepted in Australia. And my concept before moving into this space was they’ve got it tied up. Why would someone use it, you know, a fresh kid on the block when there’s people here with 15 years experience. And that’s not true at all because my track record in the short period of time, I’m not taking clients from anyone else. That’s just an untapped market out there. Um, personally I’ve learned a lot in terms of, you know, being young, you, you have a, not obligation, but it’s normal for young people to go out and party and sort of waste their weekends and you know, not think any of it.

Jack Henderson:

When you’ve got a full time job, you know, Monday is going to come around, you’re going to get paid the following week, now having your business, um, you go out in the weekends and, and sort of enjoy yourself Mondays or Tuesdays right off and you’re not getting paid. So it’s changed my perspective on what’s important. So now, um, you know, it’s something I’ve learned a you, I’m up early, I’ve got a morning routine and that’s what I enjoy doing. I don’t, it’s not forceful where I used to get out of work, go into the mines or fuck it out. It’s five o’clock in the morning, I gotta go to work now I get up cause I’m like, yeah, let’s go get it. You know, it’s enjoyable. You’re doing sunrises in the morning. 100%. I’m doing yoga. I’m a vegetarian. Like if you were to honestly like you and you knew me six to 12 months ago, if you, if you’re supposed to tell you then that I’d be there, stop a person.

Jack Henderson:

Look, I’m still myself. But now I’m a lot more inquisitive around like why, why would someone do yoga? Why would someone be vegetarian? Where before I just make an assumption, Oh that’s gay, or whatever it is. You know what I mean? Like you just make that assumption because it’s not what you’d like doing. But now it’s something I’m more, I’m adapting to is instead of making a judgment before you do it, do it and then make a judgment. So I did yoga and then I was like, wow, this is a lot harder than what it looks and it’s good for my brain and I feel I feel great. Then the vegetarian thing, I was like, okay, I’ll try it. People do it for a reason, so I’ll try it. So I jumped on it and now I’m addicted to it and I feel great and I go to eat meat and it’s like, Oh, I don’t feel good.

Jack Henderson:

So now I’m in that I’m in that mentality of before I judged something, give it a go and then make a judgment cause that’s educated judgment. You said earlier that you didn’t hate what you’re doing when you were a plant operator. Yeah. Now obviously it seems like with your career right now you’re doing what you love, like buying property. Does it feel like you’re working now? No, that’s the thing. Like I work probably double, not double the hours, but a normal day for me starts at five regardless if I’m actually working, I’m still up doing something productive for my day and I, I finished work at eight or nine o’clock, 10 o’clock I’m still doing emails and texting and talking to people. So essentially you’re still working so you’re working more hours. But it’s enjoyable like, and who knows? It might be enjoyable in five years time, but at this present moment, having the choice to do what I want and the, the decisions I make only impact me if I don’t get up and go to work or get up and do what I have to do.

Jack Henderson:

It impacts no one else except myself. So when you make the choice, you make a conscious decision in terms of, okay, if I don’t do this, this is the impact and if I’m willing to take that impact and I won’t do it. But if you do this and this is the benefit, I remember you did your first deal, I think, was it in the first week? How did that go down? To be completely honest, it wasn’t a good, like, it wasn’t an incredible feeling because like I sorta knew, like I had this vision in my mind that it was just everything that’s happening feels so normal. Do you know what I mean? Like I had this vision that I knew I’m Kay, I know I’m capable of it. So it’s not like it was a big like, wow, wow. I just knew it was gonna happen. So I did the deal and then it just went on my day. It’s a good feeling. And it was, it was good because it was a real, a really good friend of mine. But I’m, I have a vision and I have, I know I’m a very driven person and I know what I’ve achieved up to this date. So I know things that are going to happen are going to happen and as a result of me doing what I’m doing and it’s, it’s just feels normal, I guess.

Ben Handler:

Real estate agents I’ve been, I’ve been seeing online, I mean you talked at the black and white videos and I think they’re really great. They do stand out. And I have noticed that in such a short period of time you’re getting a lot of traction with real estate agents. Have you found it difficult building relationships with them? No. Look, when I build a relationship with someone, I don’t

Jack Henderson:

Care if they’re a real estate agent or a mortgage broker or whatever. I build a relationship with a human being. So if I don’t like you as a human being, regardless if you’re going to send me a million leads at time, I want to talk to you cause I don’t like you and I don’t want to do business with you. So I think the thing is, and I think that having that approach, when I go and see someone and meet someone for the first time, if I get along with that person, that’s the relationship. If business flows on from that as as a consequence, then sure. But if it doesn’t, I’m still gonna you know, be friends with that person cause I like them. So I think that’s how I’ve gained traction so, so quickly. It’s not fake. You’re not trying to have a coffee every week with them because you want business. I made out with these people because I like them. So I think that that’s, that’s the difference where I see a lot of people, you know, they’ll see a big real estate agent or someone, they believe that they can bring them a lot of business and regardless if they liked the person or not, or like their ethics or what they’re about, they’ll still chase that person cause they want the business where I’m contrarian to that. And I think it’s a lot more beneficial because it’s a natural consequence. It’s not something that feels forced.

Ben Handler:

Obviously you seem a bit different in terms of most millennials out there, like they’re at the pub getting smashed or I’m still at the pub. I still know from what, from what who I meet. They don’t seem typically as driven as you like. What? What would be some advice to people out there who would just, you know, you know, working for someone, not really pursuing their passion, their purpose.

Jack Henderson:

No. I’ve found, and I’ve been very blessed to be around some very influential and very wealthy people. It’s such a young age. It’s just happened as a natural consequence of the places I’ve been in. The people I’ve met and something that people have so wrong is they think money brings happiness. So people, the only reason someone stays in a job is because of money. That’s it. I didn’t stay there because of any other reason. If you didn’t have to pay any bills and someone said you all your bills are covered, go do what you want, you do it because there’s no financial sacrifice. So people are chasing money because they believe once I get to a certain dollar figure or a certain amount of assets or certain whatever it is, it’s going to be a fulfilling and a happiness feeling. The things I’ve learned is it’s not true.

Jack Henderson:

Money does not bring you happiness, and I’m sure you’re very aware of that at the start of most people’s career. They’re chasing the shiny watch and the fancy car and they believe that this is going to bring them some sort of happiness and the perspective on what other people think of them. That’s what makes them happy. The reason someone wears a $100,000 watch, it’s not because they like it, it’s because when they walk down the street, they want someone to go, Oh, look at that watch. You know what I mean? Like it’s very rare to actually find a car enthusiast that drives a Ferrari because he loves a Ferrari. He drives a Ferrari because you want people to turn their neck. So it’s a very, very empty feeling. And it’s a saying that people say is, I’d rather it cry in my Ferrari until you’re crying in your Ferrari because that’s what happens.

Jack Henderson:

He gets to that point. You think it’s going to, you know, fill the void, that empty, sad, void in your body. And essentially it just makes it bigger cause you hit that point and going, wow, what else now? And I’m very lucky to have learnt that. So the biggest thing is chase happiness. You know, what makes you happy? Do it. And the money will come as a consequence. I’m just lucky that property pays well if you do it right. So it’s a natural consequence of doing something I love and it brings in a good income,

Ben Handler:

Very wise made I have to say, I’m just wanna acknowledge you and recognize you because I mean you definitely out of the norm for people that I’m meeting your age and what you’ve actually achieved. You’d been in the trenches, you’ve built the portfolio, you’re now helping other people. So well done for getting out of what you’re doing to really pursue your passion.

Jack Henderson:

Yeah, you’re, you’re a, you’re a massive contributor to that. I actually remember the first conversation we had, now you say that I, um, I seen, cause you were still at C H when you launch his business. And I remember seeing a Facebook ad saying the newer millennial advice agents and I was one of the first students to do the pre signup thing. And I remember you called me. Um, and this, I, I never would have done this unless it was for you because essentially my philosophy was, okay, I’ll, I’ll live out my early 20 years. I’ll end the getting from in the mines. I go on holidays twice a year and you know, enjoy this life. And then I’ll hit a point and then when I’m finished being young and dumb, that’s when I’ll do it. And now thinking back on that, that never would have happened because you hit 27, you have a girlfriend, you have kids, and you have more and more commitments and then the excuses get bigger and bigger and you never do it. So you pushing me in terms of, come on, let’s do it. Let’s do it. Let’s do it. I never would have done it and essentially, so I’m very grateful for that. And then even which relieves associates, there was an introduction through you, so you’ve obviously seen something in myself where your, your name’s on the line essentially, so I’m very grateful. Yeah, thank you man. I appreciate it. And where can people find you? Facebook, LinkedIn, Instagram. Just under Jack Henderson. Truly his associates as website.

Ben Handler:

Yeah. Thanks mate. I appreciate it. It’s been good to chat. It’s great to see your story. And I mean I can’t wait to see 2020 what’s going to happen? I mean I want to see this, the Henderson, I want to get a lot there. So get me on the waiting list. Eastern suburbs, I love the first one and keep wearing the shorts and nice legs. I hope everyone enjoyed this episode. For those of you who want to check out Jack Foley social profiles, you won’t miss him. It’ll be any shorts. You’ll see his black and white videos. He will have his full time videographer with him shortly. I highly recommend you reach out to Jack if you, especially looking for investment properties or even owner occupies in the East. Jack is your man. He’s young, but he knows what he’s doing. He’s been in the trenches, he’s built the portfolio. He knows everything about property. He’s passionate and he’s honest. So check him out. Hope today was useful. See you next week.

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Why You Have to Follow Your Heart—Not the Money

Follow Your Heart

Luke Bailey:

Yeah, I guess it’s a, it’s a bit of a misconception. Some days, you know, where people think that you have to study a lot at school and have to go to universities. But for me, you know, I wasn’t as successful student at school. You know, I was, I was very much a, you know, a D grade or an F grade in some subjects. So school for me was, was more of a holiday. You know, I went there to catch up with my friends and play sport and things like that. So school really didn’t have any impact on me whatsoever. So I guess, um, you know, I was really forced to do a trade or forced to do something that didn’t require study. Um, and that’s why I guess I become an electrician. Um, I left school just after my 17th birthday and started a fly in, fly out a construction role as an apprentice electrician only a few months after that. So yeah.

Ben Handler:

Welcome back to the buyer’s agent Institute show. The purpose of the show is to bring awareness to buyers agents to bring awareness to the career opportunities at the buyer’s agent sector is providing people to bring awareness around the value that buyers agents are providing to people who need help buying property. Our goal with the show is to strip back and dive into the stories of remarkable buyers agents who are paving the way forward in one of the fastest growing real estate career trends. Right now. Our guest today is Luke Bailey. Loose come all the way from Adelaide. Luke has a very significant property investing history and career, which started back when he was 19 when he bought his first property. Luke was also a fly in fly out electrician and he was actually earning very good money. He had such a big passion for property that he decided to then transfer and become a buyer’s agent.

Ben Handler:

Luke now runs a buyer’s agent company called [inaudible]. That business has been running for around 19 months and Lucas generated deepen the six figures with that business and also diversified, not just buying investment properties but also doing development projects. Today, I’d like to introduce Luke Bailey. Welcome Luke. Thanks very much for having me. Good to be here. Great spear. So Luke, I had a question for you just regarding school. You know, I’ve, I see so many entrepreneurs you’ve done so well, you’ve obviously been very successful as, as, as an electrician, you earned very good money. You’ve now transitioned into a very successful role running your own buyer’s agent business. So when did you get first addicted to property? Your first hit? The first hit he

Luke Bailey:

would have been, um, look, when I was 18 years old, my, my dad was really encouraging me to get into investing and whether that be property, whether it be shares, whether it be something else. He said, look, you’re young, have to set yourself up. So I started really saving know after I bought my first car for a, uh, for my first property at around 18. And I just before my 19th birthday, I signed the contract so that it’s settled just after 19th birthday. Um, so yeah, when I was 18 and got it. Got it. Really young, I guess you can say. Yeah. Yeah. Was it a good purchase? The first one? It wasn’t the best. Oh, I’ll be, I’ll be honest. And I think a lot of people when they, I guess invest in property, they invest close to where they’re living. It’s just, it’s a general, general thing.

Luke Bailey:

I mean, if you’re from Sydney, you, you invest in CD. If you’re from Melbourne, you’d invest in Melbourne. I grew up in a small country town, ran about an hour away from Adelaide on the South coast. So, you know, the capital growth there in general was quite, quite slow. But I, you know, the good thing was I made the, made the jump and started investing in property. So it, it wasn’t the best purchase. I still own that property today and it’s, uh, you know, has went up, you know, decent amount. But you know, the whole doubles doubles in seven to 10 year period wasn’t the case for me initially. But, um, you know, the, the positive out of it was I did take action. Yeah. Yeah. Because they always say, I mean, especially with with my experience, you know, buying that first property, you’re popping the cherry and typically that you didn’t want to manufacture equity if possible then to start accumulating more properties.

Luke Bailey:

Yeah, definitely. And that was a strategy that I use throughout building my portfolio was, um, you know, as I sort of understood that, you know, capital growth is great and that’s why you buy properties, but if you can manufacture equity through, you know, renovations and developments and subdivision and things like that, that’s something that I sort of learned later down the line after I sort of worked out how property kind of works. So, um, yeah. Yeah. So your portfolios over South Australia, Tasmania, Queensland, yeah, correct. So, yeah, throughout, um, you know, Adelaide, the South coast where I grew up, I’ve still got some properties down there, uh, throughout Tasmania. So Hobart, Launceston, and then, uh, South Brisbane, so. Okay, nice. And currently for your buyer’s agent business, are you buying in those three States? Yeah, so predominantly on buying, uh, throughout South Australia. That’s, that’s my core.

Luke Bailey:

Um, I was previously buying in Tasmania. So around Hobart, uh, we’ve sort of stopped buying there for, for different reasons. Um, but you know, South Australia is more my product market. I do a little bit of buying in regional Victoria, but I would say 80% of it would be Adelaide or around Adelaide. Yeah. Cool. And so when your electrician, you earning very good money, correct. Yep. And what was the main driver for you actually deciding to really exit out of there? Yeah, look, for me, I never fell in love with being an electrician. I enjoyed the, the having that trade as a security, but I was very much forced into being electrician. And that was purely by not doing well at school. My father was a mining manager in, um, in the oil and gas industry, so he sort of pulled me out and, and dropped me in and then I did that, did the trade.

Luke Bailey:

So I never really felt, fell in love with it. And, um, I guess I stuck at it for so long because of the money, you know, and that it can be a trap, you know, you’re stuck to the money. But, um, with that comes, you know, a lifestyle that you’re away for three weeks, four weeks at a time, living in, you know, mining care. It’s living in facilities where you just don’t want to be there. So it’s a trap you can get trapped to a money to, to the money, uh, which has its, has its advantages, but you have to really, you know, sort of towards my late twenties when I realized that this isn’t for me. Like I just can’t be, you know, chained to, to the money. So you want to say it’s good money, safe, good money, and you know, got to do a lot of things. I’ll enjoy doing, travel the world and you know, you’ve got to buy decent amount of properties and whatnot. So I never went without. But the, um, I guess the parity of doing that is a year away and you do miss out on quite a lot of things, so yeah. Yup.

Ben Handler:

Did you dream of getting into real estate, like becoming a real estate agent at any stage or

Luke Bailey:

not at all? Like I just saw that the, the grind of a real estate agent, you know, making cold calls, doing door knocking, it is never, that’s not my personality. So it never, it never, you know, come across me to, to do that and always wanted to do something in property. But I enjoyed buying property personally. So there was never, you know, never a thought to become a real estate agent and compete with the other, I dunno, it was 70 or 80,000 people in Australia that are doing it. So,

Ben Handler:

yeah, I remember when we first spoke and you obviously super passionate about property and you really wanted to get out of what you’re doing. I could just tell that you didn’t have that typical sales style of let’s say, personnel. And that was me as well. I didn’t come from a sales background and I mean, what’s been your experience now getting into the buyer’s agent space? Not having a sales background? Was that limiting for you or

Luke Bailey:

no, not really. I think it’s, um, I think sales is, is learned. I, I think there’s very few people in the world that actually born salesman. There’s a, there’s a few people that are, but I think, you know, it can be learned. It’s about following a certain process, being good at asking questions, being uh, you know, acting, not like a typical salesman. Um, so for me it wasn’t necessarily a limiting factor. I, I wanted to sort of use my experience of buying properties, um, as an investor, as providing enormous value to clients and when, when they can see that, I don’t think you have to be a salesy type of person to succeed in this career.

Ben Handler:

I agree. And I think not having a sales background coming into the buyer’s agent role can really work to your advantage. And it did. I mean, it did for me. And I think what can be actually tricky for buyers agencies if you come into the role with training in some shape or form in sales, and it might not be the best of training. Trying to, I guess, rewire that and untangle that can be quite challenging. Yeah, totally. I mean, yeah, yeah.

Luke Bailey:

A lot of people can be conditioned to be, you know, certain ways and certain, you know, sales tactics. But really it comes down to being able to solve someone’s problem. You know, they, they have a problem that they, they can’t, you know, find the property that they’re looking for. They haven’t got the time, haven’t gotten knowledge. So ultimately you’re, you’re a, you’re a problem solver. You’re solving someone’s, someone’s issue that they have and you’re just the doctor or the advisor to come along and, and, uh, you know, cure their, their problem. That’s right. So the property that you’ve been buying for 14, cause I mean, that company I’ve been watching you grow, you’ve built a phenomenal business. You’ve built a brand. Uh, you’ve obviously serving a lot of clients. Are you buying for clients who are based in South Australia? Are they based in different parts of Australia?

Luke Bailey:

Yeah, all around Australia. Um, so we would have, I’d say around 50% of our clients would be South Australia or Adelaide base. And then the other 50% would be, you know, from, from Melbourne, from Sydney, from Brisbane, from, you know, regional, Western Australia. So they’re all around Australia. Um, I guess one of the advantages is, you know, there, there aren’t a lot of buyer’s agents in Adelaide. There’s a, there’s a couple of people that have been there for a few years, but, you know, I’m probably one of the newest people there. So, um, yeah, people from all around Australia. Yeah. Do you feel like you ever get complacent because, um, there’s obviously a low level of competition. Do you do, I guess, think of that a lot that there’s not a lot of competition? Yeah, look, it’s a good question. And uh, you are right there. There is no competition.

Luke Bailey:

And I usually find when I get an inquiry from someone that has, you know, looking for a buyer’s agent, you know, I’m competing with maybe one or two other people. So that can be a trap because you can be complacent and you can maybe not push yourself as much as you, you should. Uh, I think it’s a, it’s a trap that we can all fall into. Absolutely. And in terms of the types of property you’re purchasing, are you doing any owner arc? Is it just purely investment? Cause I know you’re doing development projects now, so what’s going on at the moment? Yeah, it’s a good mix between investment properties and development sites. I mean we did try everything when I first started the primary residence, the, you know, the investment, the development. Um, but, but now we’re predominantly focused on investment properties and development sites and also some renovation projects, you know, renovation and flip sort of projects.

Luke Bailey:

I understood that there was a lot of people that were not necessarily wanting to build a portfolio, so they wanted to do short term projects. So more the six months, the 12 month, 18 month time frames. Um, you know, building portfolios is a place where I started and, and I, you know, I encourage everyone to do it at some stage, but I understand that not everyone wants that or does that. So we sort of catered for that. We sort of built a product to cater for people that are wanting those, those short term projects. So you’ve obviously got a lot of service offerings. I’m short. I mean is there auctions in Adelaide? There are, but we’re not really an auction state. You know, we’re not like in new South Wales or Victoria, we would have, you know, 60 auctions on a Saturday. Our posts are 500 in Sydney. So there are auctions we have bought at auction, but you know we’re still a little bit more of a private sale type type of city. And so I’m sure there’s

Ben Handler:

probably opportunity for negotiation only services. The direct investment. Obviously you’re doing add-ons with your services to project manage, I’m assuming like a renovation, right?

Luke Bailey:

Yeah, yeah, exactly. So we’ve got a couple of different types of services. So we have the buyer’s agent service, which is the typical, you know, finding, you know, sourcing, researching, locating and securing that site for investment and development. Then we also added in a project management leg towards, or that is project managing renovations. That’s project managing. I’m mean some developers are time poor as well. They might have multiple projects on the go. So we’re doing, you know, development approvals we’re doing, helping out with subdivisions and things like that. So it’s another service that you can offer and it’s not just as clear cut. I think a lot of people think buyer’s agents just just buy property. It’s that, that that’s true. But there are other services that that you can offer as well.

Ben Handler:

Yeah, there’s a lot of, I guess there’s, there’s a lot of value that we provide to the, to the clients and I guess it’s just about working out our strengths and then we can package that up, provide it to the client and everyone’s going to have different objectives. And I think with your level of skill, I mean a lot of your clients must be pretty impressed when they, I guess first hear about you and speak to you around a, what you’ve done for yourself and B, what you’ve been doing for your clients.

Luke Bailey:

Yeah, I think having that, you know, trade background as well, I sort of naturally sort of would, would fall into, I don’t know if it’s my past, but being on a construction site and things like that is kind of what I’ve done. So I feel as if I should be on, you know, renovation projects and all that sort of stuff. So it felt natural to me to be able to do that. And you know, talking to clients about their renovation and doing estimates is off the top of my head for how much things are going to cost. I guess they are a little bit surprised sometimes. I’m just an advantage. I think I can offer people by having that different mindset based around, um, how to look at things when you, when you purchasing property and

Ben Handler:

yeah. Nice. And talk me through obviously going from a construction site, the fly in fly out to now running your own business. What’s been, has there been a massive transformation?

Luke Bailey:

There has been. Um, so typically the construction life is, you know, you’re away for three to four weeks, you’re working 12 hours per day, you’re in hot conditions, sometimes very sticky conditions. It can be a lot of people can’t cope with it. So doing that, um, you know, you’re told to start work at six smoko nine, lunch 12, you know what I mean? It’s so structured. Um, you know, to then running my business the first few months of running it, I I didn’t really know what to do with myself to be honest cause it was just so different. Uh, and then you’re going from, you know, those sort of conditions to, uh, an office type role, meeting people at cafes and restaurants. It was a bit, a bit of a bit of a whirlwind for me, but definitely true transformation. I feel like a different person now for sure. Cause I wasn’t happy, you know, in, in the past sort of past life, I guess I could say. Yeah.

Ben Handler:

Running businesses, obviously challenging. I think for any entrepreneur doing anything new, it’s, it’s tough, right? It’s, it’s volatile. It’s up and down. I mean for you running this is your, I’m assuming your first proper business that you’ve started.

Luke Bailey:

Yeah. First proper business. I did do, do, do some electrical stuff when I was sort of younger with a business. But the first I guess type I’ve, I’ve really sort of blown up. Yeah. Yeah.

Ben Handler:

Um, what’s been really the big challenges? Like is it the schedule? Is it, uh, around, uh, your, I guess day to day activities? Has it been around, I guess even just working in collaborating with clients? Like what, what have you found

Luke Bailey:

to be the most challenging? Yeah, look, I’m going, I think one of the most challenging things is, is client management. I think it can be because, you know, going from, uh, you know, electrician sort of role, construction role, which, you know, you’re using tools to then managing clients. Um, you know, also also marketing and sales. I mean that’s really the engine that drives the business is marketing and sales. So that’s been probably the most challenging thing for me. And then initially it was structure. It was, you know, get getting myself into a structure of, of trying to fit everything into the day. So bit have a combination, I would say client management, but also the marketing sales side of things has been

Ben Handler:

what have you done with a client that, for example, you know, we all, when I was a buyer’s agent, we will have challenging clients. Things change. What have you typically done to, I guess w when there’s been a client that maybe it hasn’t gone the right way, EG, like their brief has changed or they may be, uh, deciding not to buy for various reasons. Have you found it difficult to try and I guess massage and, you know, have an amicable style of relationship if the client journey hasn’t been going to plan?

Luke Bailey:

It’s a great question cause it’s happened a few times for me. Uh, things don’t always go for plan here, you know, in any type of business. So for me it’s about really understanding their requirements first. You know, first stop, you know, I mean when I, when I first started, it was a matter of just taking on clients, you know, just because I’m starting up a new business. You have to bring in revenue, you have to get it, get it running. But it’s about understanding, you know, a lot more. A lot more now is understanding whether I can help them, whether I want to work with them, whether the personality is going to be a fit. So it’s about really qualifying that that person right away. But when in a situation when it doesn’t run to plan [inaudible] it’s about you know, calling a meeting and really it might feel uncomfortable to do that initially is to really try and sort it out. But that’s the best way to move forward is the call out meeting and say, Hey, it’s, it’s not working. We’ve got two ways to go here. We can keep on going the way we’re going and not find something cool. We can alter the brief or change something.

Ben Handler:

You seem like a very active learner. Like, obviously since we’ve known each other, I know that you, you’re reading a lot, you’re engaging in a lot of just education, full-stop. Has that something, is that been an interest of yours?

Luke Bailey:

Yeah, always has been. So probably early twenties, mid twenties. I just, I realized that I didn’t know anything. You know, I had learned nothing school, nothing about finance, money, business sales, marketing. I’ll let them know nothing about property, nothing about anything at school. Uh, and I realized that, you know, you have to educate yourself. There’s a lot of information out there that you need to know if you want to succeed. So I just started consuming a lot of books and started, you know, reading a book a week sometimes. And you know, when I was away I had a lot of time in the flying play industry to read and no one else was reading up there cause it’s not that type of industries. But I realized that education was the key. So I’ve done a lot of, you know, personal development courses, but I think you’ve got to consistently learn, right? Your life’s in it. Life’s a journey of education. And that’s what it is. So, but it’s a huge passion of mine. Yeah.

Ben Handler:

And have you found that it’s been challenging to stay motivated with the new business? Like in terms of mindset, has that been something that you found a bit tricky?

Luke Bailey:

Yeah, it has been starting up a business by yourself. It can be one of the most challenging things to do and to not be surrounded by other people in an office that are all doing the same thing. It can be challenging. You know, you’ve got to keep motivated. And I think for me it’s, it’s doing a morning routine to get my mindset right, to know that you know what I have to do. And also, you know, trying to tackle good book by Jack was a Jack Canfield about eat that frog, you know, tackle the most important things straight away. And that’s what I try and do those calls. I have to make those, you know, that first hour of work is most important I think. What have you learned about yourself since you’ve started your business? You can achieve a lot more than what you’re thinking, your mind. We all have limitations in our mind and that’s just the experiences that we ha have had in the past. But you know, you can achieve hundreds of times more than what you actually think in your mind, but you’ve just got to believe it first. So that’s kind of what I, what I’ve sort of understood about myself as soon as I believe it, I can achieve it. Yeah,

Ben Handler:

you’re in a great position. I mean there’s so many buyer’s agents buying into South Australia who aren’t positioned there. I don’t know what States they’re in, but they’re not in South Australia. You’re base there, so I mean for you to service a client and be on the ground, there’s obviously a massive, I guess additional value add. So obviously it’s a very big opportunity. I mean, I think just just looking into it, obviously the development projects is now picking up for you. And so it seems like your business is gaining a lot of momentum. What are plans or if you have any for for 2020 you’re looking to do anything different or is you just going to business as usual? Yeah.

Luke Bailey:

For me it’s to really, um, you know, keep the buyer’s agent running and flowing nicely but also together into more development projects. And I have a huge passion in being on construction sites and whatnot. So that’s where a lot of my enjoyment is in doing a lot of development projects around Adelaide, short timeframe stuff within that sort of 12 month, 15 month timeframe that that’ll definitely be ramping up in the next sort of year or so. And, and having multiple, we’ve got multiple projects on the go right now. Um, but you know, to keep building on that and keep the buyer’s agency, you know, running, running nicely as well.

Ben Handler:

Awesome. And so where can people find you? Yeah, they can go to my website, [inaudible] dot com today you, they can search 40 buyer’s agency on Facebook page, send us a message or one 308 Oh seven one four four is the direct number. Awesome mate. Well done. I mean, just watching your journey for me, uh, to see you transpire over the 18 months or however long it’s exactly been, has been phenomenal. I mean what you’ve actually achieved and starting a new business runs on the board. Just getting out there, you’ve built such a brand and I mean people know about you and Adelaide and I think it’s unbelievable. So just want to say congratulations and I’m really pumped to see what you’re going to do in 2020 thanks man. That was really a really common words. Thank you. Cheers. Thanks. So that’s the end of the show now. And for those of you, you can check out Luke at www dot [inaudible] dot com dot. AAU and for those of you looking to buy in the South Australia region, Luke is actually on the ground there, so he got a lot of experience there obviously in Tasmania as well and Queensland. So if anyone looking for any development opportunities or for direct investment, Luke is your guy. See you next week.

Please watch the full video here:

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#25 – What It’s Like To Live Out Your Hobby With Peter Toma

Buyer Agents Success Stories

For some property is a way of life. Especially whose parents were involved in property themselves. Peter Toma is one such person. He learned the trade through reading and listening to podcasts and has his own property advisory business.

Personality Traits of A Great Buyers Agent

How to become a successful buyers agent in Australia? This question lurks around in the mind of every newcomer to the industry. The answer is hard work. To set yourself apart in the industry, you have to work harder than anybody else in the game. Sure there might be people who are more talented than you or have been in the business longer, but all you have in your hand is effort, and that is the key to success.

Success is directly proportional to the effort you put in. If you work harder and smarter than people around you, success is inevitable. Being a buyers agent requires you to be confident. You need to transmit that positive energy that will help your client make the right decision.

Now or Never

Now or Never

Experts in the industry say that every 10-15 years there comes a period which is the absolute right time to buy a property. And now is that time.

With limited stock in the market and lesser people willing to go out and evaluate them, this is the time to buy a property. Remember, you will only make money if you purchase at a lower rate, and then the property gains value.

One thing that Peter has learned from Buyers Agent Institute is the ability to sharpen his negotiation skills. Buyers agent Institute empowers you with a unique skill set that will not only help you in the buyer’s agent trade but also polish your personality to become a finer human being.

Woman leaping across a mountain

A Sense of Achievement

There are a lot of misconceptions about what a buyers agent really does. Buyers agents don’t sell real estate, they find good deals for people. For that, they have to work closely with real estate agents. It is absolutely crucial to have a great relationship with the real estate agent because they have access to the stock.

The secret to building this relationship is simple, Try to know the person and it becomes less of a negotiation and more of a conversation. Using this technique, Peter made his first deal in just 2 weeks of going to the buyer’s agent course at BAI. That is how powerful the curriculum at Buyers Agent Institute is.

Family moving into their dream home

Helping Families with Property Buying

Peter elaborates on the importance of knowing the family for which you are finding the property. This helps you to make a connection with them and makes the deal that much satisfying once completed. Buyers might not have the time or don’t know what to do. That is where the buyer’s agent adds value.

As opposed to the common belief that property is just financial, there is a lot of emotion that goes into it.  

It’s more emotionally draining buying for owner-occupiers than corporations. When you have a passion for property, it is not a job, it’s a hobby and more rewarding.

In the end, Peter emphasizes the importance of having a strong presence on social media. Create a digital campaign for your business and execute it. With Covid-19 changing the norms of business, having a social presence will be a deciding factor for your success in the future.

You can listen to the full podcast below:

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To find out more, come and watch this free web-class:
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#22 – Why Work-Life Balance Is The New Currency With George O’Brien

Balance Life

Being a buyers agent is a lifestyle that allows you to build meaningful relationships with your clients all the while having the freedom of living life at your terms. Freedom is one of the main reasons most people quit their 9-5 to become a buyers agent.

This week’s success story is about George O’Brien who is a young and ambitious individual making his name as a successful buyers agent. He is based in Newcastle and specializes in investment and principal place of residence.

Smiley face emoticon

The will to succeed

George started his career in sports but due to several injuries was unable to continue. He was introduced to mining apprenticeship where he applied for 4 categories and was selected in all four. Earning 140 AUD/ year is everything a young Aussie can ask for but for George, there was something missing.

That something was pointed out by his father who advised him to buy his first property at the age of 19. That asset sparked the light bulb in his head and he started to read books and listen to podcasts especially the ones from Buyers Agent Institute.

This motivated him to start building his portfolio that now includes 4 properties.

The transition to a better life

Having an entrepreneurial mindset is crucial for individual thinking of starting their career as a buyers agent in Australia. George built up his confidence in the fact that he had knowledge and connections to penetrate the Newcastle property scene. This combined with the added advantage that his family was well known in the region was enough for him to take the leap of faith.

He started intelligently by using social media to his advantage. By marketing his services on Instagram, he made connections and when enough queries were coming in, he knew it was time to launch his business.

Road sign - better life, next exit

Perks of your own business

At first, George thought that he would work with a well-reputed firm to learn the tricks of the trade but he quickly realized what he would be putting at stake by doing so, his freedom. He wanted to have the freedom of doing exercise, running, yoga, etc. at his own free will. That was the real perk of having your own business.

So he built up his knowledge base, focused on self-development, and worked towards a holistic approach towards his life.

Building Relationships

Building meaningful relationships has always been one of his top priorities. At the end of the day, you are responsible for handling the most important deal of someone’s life. There is no other feeling like seeing the smile on their face when the deal is complete.

For his first deal, George helped move his client into his new home in Newcastle by using his father’s truck. That is the kind of person George is. He has a hunger for learning new skills that will help improve his personality.

Being in control of big investment and helping people is super fulfilling. One thing he has learned during his time as a buyers agent is being grateful. Being in control of big investment and helping people is super fulfilling and you have to be respectful of the fact that its people’s life earning involved.

George always wanted to be the best at what he does. He is super driven to be the best buyers agent in the area and be a person of influence. His advice to people stuck in the 9-5 is to put their money in the right market, and if they get the first property right, they can have a real good base to build on.

You can listen to the full podcast below.

Have you considered turning buying property into a career?
To find out more, come and watch this free web-class:
Watch the Free Webclass Here

To find your nearest Buyer’s Agent, Click here:

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The Principles Of A Consultative Style & Process With John Comino

Consultative Style & Process in Property

John Comino
Lots of people have come out of the shadows there. They’re people who have, who had connected with me in 2018. Perhaps the market wasn’t right for them or they, they felt that the market might grind lower, for, for a bit longer than it had and they’ve sort of come out of the shadows and want to want to engage a lot more quickly than they had intended to. So business is going really well now. Um, but look, it’s, it’s a grind. It’s a slug. But I love every minute of it.

Ben Handler:
Welcome back to the Buyer’s Agent Institute Show. The purpose of the show is to bring awareness to buyer’s agents to bring awareness around the career opportunities that the buyer’s agent sector is providing to people to bring awareness around the value that buyer’s agents are providing to people who need help buying property. Our goal with the show is to strip back and dive into the stories of remarkable buyer’s agents who are paving the way forward in one of the fastest growing real estate career trends. Right now. Our guest today is John Comino. John’s background in investing started 15 years ago across Sydney. He’s very focused on Sydney, him and his wife, and they’ve built up an incredible portfolio, John’s professional background within the finance sector for 15 years where he served as a finance director and he bought his first property sight unseen when he was in London. John now runs a buyer’s agent business called Bridge to Bricks. It started at the beginning of 2018 and business is thriving for John. So I’m really excited today to introduce John and dive into what he’s doing with his business. Welcome John.

John Comino:
Thanks Ben. Great to be here.

Ben Handler:
And so you’re very Sydney focus, right?

John Comino:
Yeah, completely. Yeah, completely.

Ben Handler:
Is stock an issue in Sydney for you?

John Comino:
It’s probably the biggest challenge. Yeah, it is. Um, so you know, numbers are down about 50% or possibly a bit less than that of the previous year. It’s a reflection of the prices having come off the market, creating a disincentive for people to sell. So the biggest challenge at the moment is, I mean is, is finding stock. Obviously prospecting is the other big challenge when it comes to being a buyer’s agent as well. But the, we’re, we’re in spring now and the market is certainly picking up in terms of prices, but it’s also starting to pick up in terms of volume as well.

Ben Handler:
What do you do when stock is so low? And you’ve got a handful of clients that obviously desperate to buy a property and you can’t find it on real estate and domain.

John Comino:
Yeah, well you, your hustle, your hustle. But I mean it’s, they, they engage me to have an advocate looking for their property on a fulltime basis. It’s the, the sort of, um, search that they would never have the time to do themselves. So I call every conceivable real estate agent. I’ve been door knocking before.I’ve,you know, dropped letterbox, drops, all this sort of stuff. So the, I’ll get my property.but it takes, it takes time.

Ben Handler:
Nice. I also forgot to mention you are a chartered accountant, so I’m sure when the vendor has a nice chartered accounting knocking on the door, it’s, they’re okay with it.

John Comino:
Yeah. I mean, I, I wear trousers. I’ve, I’ve got a collar. Yeah. They, they like that sometimes. Yeah.

Ben Handler:
Let’s talk about this property you bought. So you’re living in London, you’re working in finance. I was a finance director. Yep. And you bought a property site unseen. How to go

John Comino:
was good. So I did the search myself from a little shoe box apartment in Bayswater and in London. And I ended up buying a, a townhouse in, I think it was 2006. So in hindsight, the market would have been quite frothy then actually. But I bought a townhouse in five dock and I did a bunch of research on the area of five dock. When I identified the property, I actually just called my sister and asked her to go and have a look at it. So I didn’t know what a buyer’s agent was back then. But essentially I use my sister as a buyer’s agent. And she went to the, um, she went to the property to have a look around. She came back and I said, what was it like? And she said, Oh, look, you know, the tenants were there, there were McDonald’s wrappers on the ground. It was pretty gross actually. And I said, yeah, but what was the layout like, you know, it was a close to transport and all that sort of stuff. And, and you know, we, we bought the property finance was a real problem as a non-resident back then, but no regrets. And that’s been the seed of other properties that we’ve bought since. Interestingly, my wife had owned properties, you know, when I met her. So when we brought them together, we were able to do, some good stuff.

Ben Handler:
Yeah. Nice. And that experience of buying sight unseen, I mean, when I was a buyer’s agent, I used to see that a lot, but I guess now are you working with ex-pats who are buying in, who now are using your help?

John Comino:
Yeah, that, that’s definitely a category of my clients. Um, I bought a place for, a, an expat in, you know, Paddington recently, which was fantastic. So, yeah, the, the expats are really a common form of client.so certainly

Ben Handler:
are they coming to see the property or you just, I guess taking video photos and giving them the whole rundown due diligence?

John Comino:
It depends. Sometimes it’s video. Often it’s that they nominate people that they really trust. It could be, sisters and mothers and those sorts of things. But when we do the short list drive around, it’s with family members usually. Do they invest? The clients love you because you’re a number cruncher. They do, they do. I’m a risk guy, you know, a risk guy.so when I do provide a lot of numbers and, and those sorts of things and I guess the accounting background gives a bit of credibility and I know what I’d like to see if I was buying a, an asset insert asset name here. So I do, I do do a lot of, numbers and cashflow types of assessments and I think it’s helpful.

Ben Handler:
Do you, do you prefer doing owner or servicing owner occupied clients or investors? Is there a preference?

John Comino:
Um, well, for the owner occupies, the numbers are bigger. People generally looking for more substantial properties. And for investors, they’re usually looking for more, sort of, um, affordable types of properties that they can sort of accumulate rather than fall in love with, I guess I prefer the investors. It’s a quicker process. And it’s more, um, in terms of decision making, it’s a lot more straight forward. It’s about numbers and it’s about, um, attributes. So I guess I prefer the investors. Do you place the investors into a specific investment strategy that you have or do they typically come to you because they’re sophisticated and had their own strategies? Yeah, it’s probably the former. I tend to, they tend to come to me and say, well, you know, here’s the amount of money I’ve got. What do you think I should buy? And then I apply the sorts of investment strategy that I’d apply for myself, which would be, you know, looking at the, walk scores, looking at the convenience ratings, looking at the yields, those sorts of things.

Ben Handler:
Nice. And doing renos, like any cosmetic or structural stuff, do you do that? Well if they’re looking for a fixer upper, like I try to, I try to match the property with the buyer. So I was, I bought for a handyman recently, so we bought a fixer upper. But generally speaking people about finished products generally and buying for the second time for clients. Is that popping up a bit? Yes, it is. Yeah, it is. But just now. Yeah, it is. Um, one of the interesting things for me is that in 2018, my business is all about owner occupiers. So my average purchase price was quite high and this year the investors are back. So the volumes are up in the purchase, prices are down.so that’s a, that’s a good thing. And I suppose, yeah, definitely. I mean, obviously different experience working with an owner versus investor.

John Comino:
I feel like we own a rock for my experience. It draws out the time from signup to buying. Um, is there an average time frame that you, that you, you can see with investor clients? It’s around eight weeks for an investor client and for an owner-occupied client it’s probably around 14 weeks. Okay, yeah. And on market versus off-market and pre-marketing primarily buying properties in either of those categories? Yeah, so about probably just over 50% are off market, around 60% are off market, which is, which is pretty good. And what I say off market, they tend to be pre-market or post-market. So there, there’s still a motivated seller usually. and, and I’m seeing it actually depends on where in Sydney, um, I’m buying as to whether or not there’s a lot of off-market opportunities. So for example, in the lower North shore, which, which is where I’m based, I do a lot of off market deals, but when I’m looking for investors in say the St George area, it’s all on the them. It’s all on market. So it depends where and, and the, you know, the, the buying I’m doing in the St George area, it’s bringing that average number of kind of off market deals down, but it’s all good. And I’m sure all the agents know you now in st George. And they do. Yeah, they do. They do. And it’s, um, I mean it’s important to work with agents that you

Ben Handler:
see eye to eye with. And I mean it’s all supply and demand, right? They’ve got a motivated seller, we’ve got a motivated buyer and it’s just, it’s crunched the deal. Absolutely. Yeah. And in terms of, I guess let’s go back to the door knocking because it is like there is a lot of low stock going on. I’m hearing in different areas. I mean obviously managing client’s expectations because people are quite desperate to get in, especially before end of year. How do you go about that? Is just, is it just regular communication with the client?

John Comino:
Yeah, definitely. So I make sure I, I touched the client or I have a touch point with the client at least every second day.so they’re always, they always know what I’m doing and that’s actually that, that is a great way to incentivize me to keep the process moving, to always be active, for them to always do something that the progress is their, their purchase. So,yeah, I’m always in touch with the client. Um, and I always have to come up with new ways to get them to their, to their goal, which could be doing, knocking for example, or it could be, you know, the ring around. But um, yeah or we’re always doing something

Ben Handler:
nice. And we talked about prospecting early. I remember when we first spoke you, prospecting is typically a challenging aspect for anyone I think in, in where we are in a sales environment and your personality, you didn’t come from sales, correct. Entity die. Um, and I know when I first met you though, face to face, I thought you’re going to be brilliant because you’re non salesy. Your the opposite to what people’s or a potential client might kind of be like. Oh. So have you found, like with your professional background, you know, working in finance and obviously building up your own investment portfolio with you and your partner, has that helped you find when you get in front of prospective clients?

John Comino:
It does. It’s helpful to have a story to tell. It’s helpful to have a little bit of gray in the sideburns as well, just to, to have a little bit of credibility in that sense. Um, so prospecting is definitely the hardest part though. And I guess I, I, I can convert, but finding the buyer’s is the, the, the tricky part. And I guess anyone who’s interested in becoming a buyer’s agent needs to know that it’s all about the prospecting. It’s all about the prospecting. So, you know, a big fan of Ryan, sir Hampton, the U S and you know, he’s a, he’s a, you know, these Beachside properties and multimillion dollars and that, that’s part of it. But most of it is spent prospecting on the phone.

Ben Handler:
That’s right. And where are a lot of your clients coming from? Are they coming from particular source, like mortgage brokers? Are they coming from accountants, real estate agents or you’re doing marketing?

John Comino:
A lot of them come from networks, but actually the, my biggest referral sources probably online,property forums like property chat. So I’m a really active blogger. I give my opinion on all sorts of, you know, whatever’s going on in the property market. And interestingly, that’s where a lot of people find me and that’s where a lot of international people find me. So the expats are looking at these property forums and I get a lot of leads from there. But generally speaking, it’s a referral business.

Ben Handler:
That’s incredible. So would you say it’s like a hundred percent referral based?

John Comino:
I would say it is. Yeah, I’d say it’s, I’d say it’s 80% referral based and then there is a another sort of 15 to 20%, which is things like the property chat forums.

Ben Handler:
That’s a great model I think to have. And the more I, I mean, when I look at a business, the more referral-based, like the more trust obviously the, it, it, it’s, it’s a, it demonstrates how much people trust you. And I mean, hopefully I’m, I’m assuming you’re gonna start getting a lot of referrals from your past clients as well. I hope so. And it also, they’re all end snowballs. That’s right. That’s right. Um, I noticed from my experience with buyer’s agents who are focused in own occupier in that space, real estate agents are a great referral source because if you’re trying to service let’s say client in Mosman between three and five, who are those real estate agents who are selling between three and five and they’ve got buyer’s and how do we become friends, right? Yep. So have you found real estate agents have been helpful?

John Comino:
They, they have, less so I’d say, I’d say mortgage brokers would be higher in terms of referrals. Um, I’d say that, accountants and, finance brokers tend to be sort of up there as well. Low in volume, but high and trust.so real estate agents, probably less so for me. That’d be sort of second tier in terms of referral sources. But you get them where you can get them, right?

Ben Handler:
Yeah, that’s right. And so I’m assuming before pre Bridge to Bricks days, you’re in an office, correct? I’m assuming now you’re not office bound to the desk. How was that? I’m back in beginning of 2018. How was that transition?

John Comino:
The freedom was great. And I, you know, the, the risk there is that you squander your time watching like YouTube clips of, you know, whatever it is. So, so the freedom really makes you need to be very disciplined about how you allocate your time and, and you’re a buyer’s agent. Institute covers a lot of that stuff, which was great actually. Um, but the freedom, the freedom is great. Um, as a, as a chartered accountant doing finance director stuff, the work used to come to me. I used to turn up to work and,you know, and there was always something to do. It was always the same thing, generally speaking. But as a buyer’s agent, I, I make my own, um, opportunities. And if, you know, it’ll, I’ll be as busy as I, you know, as how hard I work. So that’s, that’s different.

Ben Handler:
You raise something interesting time management and I think we all struggle with it at every stage of the business. And especially being an entrepreneur and running our own business, especially in the buyer’s agent world, you can get distracted very easily. Um, how have you tried to deal with that? Because me running my new business now, the buyer’s agent Institute, I’ve struggled with that. And so I’m always looking at hacks and ways to try and really stay productive and not get too distracted in this crazy world of technology. Do you have any tips that you use or,

John Comino:
well, the main, the main, the way, the main way I get around that is having a very, determined wife who makes sure I focus on what the task at hand is. but you know, I mean mentally, you know, you just have to decide, is this productive? Am I going to, um, achieve something by whatever it is I’m doing? You know, do I make more money? Do I, you know, fill the brief of a client by watching this YouTube clip or doing whatever it is, right? Going on that run. So you just have to, because running a business as feast or famine, really, it, it’s as good as the opportunity you make. Um, eventually the necessities of life require you to be productive. And so that, that’s how, that’s how you allocate your time. But in terms of the specifics of how I allocate my time, I just make sure I allocate certain amounts of time to being on the phone a certain amounts of time being out and about. Um, and I try to, and this is talking about Ryan sir hand again, he has a goal of meeting three new people a day. Um, now he’s an exceptional US-based sales agent, but but he’s right, like you’ve got to try to, um, allocate your time in a way that you’re meeting a new person every day. So that’s what I tried to do as well. And how’s that going for you? Yeah. Good. Yeah. Good. I agree with that. Not three a day, but you know, it’s up there.

Ben Handler:
Hopefully, you get there. But I agree with that philosophy. We need to be as BI as Aiden’s getting in front of as many people or qualified style of people as possible or even people who can or have a distribution of, of customers potentially for us, whether it be a business partner, like an accountancy firm.

John Comino:
Absolutely. And even if it’s someone who’s passionate about property and that reinvigorates you. So maybe there’s no, they’re not a referral source, but maybe they just love property and it reinvigorates you. So you’ve got to, yeah. Getting meeting new people. It’s part of also the craft of being persuasive. So meeting new people is, is really important to, to learn how to be a person that people want to deal with, to be persuasive, to be compelling, to be charismatic. So it’s good to meet new people.

Ben Handler:
Yeah. I mean that’s, that’s an interesting point. And I think as buyer’s agents, from my experience in this space for 10 years, the potential client does not want to feel like they’re being sold to. Right. I feel like that. So the more consultative a buyer’s agent is, listens with intent, asks good questions, doesn’t try to sell to them, really just tries to be there to see, Hey, are we a fit or not? I feel like has the best chance of winning.

John Comino:
Yes. Certainly one of the [inaudible] that’s a really good point. And I know that I go further withclients once they converted by dissuading them from buying something. You know, we, there was a property yesterday that we decided not to buy on the basis of the strata report and it, look, it breaks the heart every time a deal doesn’t happen. But, but that’s where the trust is built that that’s a big step forward when you say, look, this is a dog, you don’t buy it. And I’m as sad as that, you know, as devastating as that is, it’s a really important step in that trust building process to say

Ben Handler:
don’t touch it. And then especially if they really want to buy it. And does that happen often? It happens sometimes, sometimes questions. So owner rock, you’re dealing with a lot of more emotion. I still think with investors though, there’s a lot of emotion. People are trying to retire early, accumulate wealth, manufacture equity, all that stuff. There’s emotion there. However, I feel like a skill of a good buyer’s agent or some specific skills of a good buyer’s agent when buying for owner occupied reasons is painting pictures they can’t see. So some of them have never done a rental before. Someone don’t know, you could have knocked through this wall and the place would look different. Do you, are you good with going through the property and actually helping them see the whole picture?

John Comino:
I hope so. I hope so. I mean, you mentioned before that I’m not a sales guy and that’s positive and negative, right. So I, I, I’m not sure if I speak the language of emotion as much as I should, but I suppose speaking to a client,the day before yesterday, a different client and, and I S I sort of said, did you go, did you go to the, the shop on the corner of the cafe on the corner? Have you been down to, you know, just to experience how convenient that location is. So I guess that was an attempt to kind of just allow him to envisage himself living there,and what life would be like. So, yeah, a little bit. Um, and not, I don’t do it so much in terms of renovation, like, you know, imagine knocking that wall down and imagine, ah, I can do more there. But, um, but certainly in terms of the lifestyle aspects, I, I try to point that out.

Ben Handler:
2020 your, I mean, you’re busy. I’m seeing you online. You’re doing a lot of deals. Things are going really well. Any new plans or are you just keeping it simple?

John Comino:
It’s its growth. The plans, growth. We’re not, um, we want to go beyond consolidation. I also want to refine the craft. I mean, the first thing you do when you become a buyer’s agent is you, you need to get proof of concept. Can I do this?so we’re, we’re past that. We’re, we’re growing the business, but I want to grow it a lot more quickly and I want to be at the stage where, you know, if a, if a buyer doesn’t decide to go with me. That’s cool. That’s cool. There’s, there’s that pipeline. So to build the pipeline, to grow the business and to, to refine the art.

Ben Handler:
Awesome. Where can people find you? Like, what’s, is it your website or

John Comino:
the website’s the best place? It’s a www.bridgetwobricks.com today, EU.

Ben Handler:
Cool. And I’m assuming you are on LinkedIn and

John Comino:
LinkedIn, Facebook, Instagram, homing pigeons, you know, all of the,all the ways very easily.

Ben Handler:
Did you like the social channels, by the way?

John Comino:
You know, I never had a Facebook account until I started the business, so I’m not a social media guy, but you know, it keeps me connected.

Ben Handler:
You won’t believe it. I didn’t have a face, a personal Facebook hand until I resigned last year. I never had one. Um, so I feel you. Thanks for being here. I appreciate it.

John Comino:
Pleasure. Ben.

Ben Handler:
For all of you listening, please check out John at his website, Bridge to Bricks and you can check them out on LinkedIn, Facebook, Instagram, all the socials. If you’re specifically looking to buy property in Sydney, whether it be for investment purposes or owner occupiers reasons, I highly recommend you reach out to John. See you next week.

Please watch the full episode here:

Have you considered turning buying property into a career?
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#23 - This Is Why You Should Follow Fulfillment - Babak Haeri

Top Training Institute for Buyer

People from all walks of life go through the buyer’s agent institute training. This helps shape their people’s skills and set them on a path of success. One such person is Mr. Babek Haeri who is an entrepreneur from Sydney running his own business for the last 11 years.
Let us explore his journey and how the Buyers Agent Institute has contributed to his success.

The Buildup

Babak comes from a landscaping business background. He worked to establish his own company and there he automated the processes. This granted him access to free time and flexibility which he then used to establish Investors Agency.
Babak focuses on buying properties on a national level which means he is not limited to one particular area. Right now, He is focusing on investment properties on a national level. From the beginning, he had a passion for property that ultimately led him to establish his own agency. He never wanted to be a real estate agent. Automating his business has helped him follow his passion. For most landscaping clients he is still the point of contact. It takes 1 hour every day to delegate all tasks to the automated process to his team.

Graphic of man on laptop

Trade Secret

Babek does not consider himself a salesman. And at one point in time, he considered this to be his weakness. But as his interaction progressed he realized, not having salesman qualities is actually his strength.
He focused on building a high level of trust and credibility. Keeping this in mind one of his clients referred him to their son where he closed the deal. This is the level of relationship-building you have to keep in mind while operating as a buyers agent.
Being a buyers agent requires you to be a problem solver. You must have people skills, communication, and listening ability above all. The sales will come naturally.

Buyer's Agent and clients handshaking

The Buyers Agent Career

Like in every industry, you have to get comfortable in the buyers’ agent arena. Get a feel for the industry. Reading books, taking advice, listening to other people. Focus on developing systems instead of running after goals immediately.
These techniques helped Babak secure 4 clients in the past 4 weeks and 2 more in the pipeline. As cliché as it may sound, “If you love what you do, it doesn’t feel like work”. Corporate jobs take a heavy toll on your ambitions and vision. This is where the Buyers Agent Institute’s training course comes into play. The Buyers Agent Institute training helps you unshackle from the bonds of the 9–5 and set you up for real success.
As a buyer’s agent, you change people’s lives. You add value to their life by finding the property.

National Buyers Agent Trade

Mr. Babak buys properties all over the country. He has leveraged his connection in the landscaping business to help him build connections all over the country.
For national investment, first, he does macro research e.g. gather information about states, infrastructure, supply, and demand. After that, he moves onto the micro-level i.e. building relationships with real estate agents. One technique he has found to be particularly useful is Understand the preference of each agent to get the deal done.
It is difficult to build relationships with real estate agents when you are working across the nation. The simple reason is that each region has its own work ethics and you have to work accordingly.
His long term goal is to establish a business where people will make money for him. To set up an office where typical 9–5 rules don’t apply as long as the tasks are being performed. And that is the ultimate dream of most buyers’ agents in Australia.

Listen to the full podcast below.

Have you considered turning buying property into a career?
To find out more, come and watch this free web-class:
Watch the Free Webclass Here

To find your nearest Buyer’s Agent, Click here:

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Here Is What Happens After 15 Years Of Property Investing

Property Investing Growth

Ben Plohl:

So, um, I guess when we first started the business it was, yeah, it’s a, it takes a bit of time, a bit of nurturing. But um, to be honest, I didn’t expect it to be in this position now in such a short space of time. Now that’s, that’s a, that’s a guaranteed, yeah.

Ben Handler:

Welcome to the buyer’s agent Institute show. The purpose of the show is to bring awareness to buyers agents to bring awareness to the career opportunities that this sector is providing people to bring awareness around the value that buyers agents providing to people who need help buying property. Our goal with the show is to strip back and dive into the remarkable stories of buyers agents who are paving the way forward in one of the fastest growing real estate sectors. Right now. Our guest today is Ben Plohl. Ben’s been investing in Australia himself over 15 years at a national level. Ben’s professional background was in the finance sector. He worked at an executive level and at a CFO level. He’s also a chartered accountant. So he loves crunching the numbers. Ben is now running his own buyer’s agent business called BFP Property here in Australia. He’s buying at a national level for his clients and really empowering and mentoring and showing his clients what he has learned to develop for himself over the last 15 years. I’m really excited to introduce Ben today. Welcome Ben.

Ben Plohl:

Thanks. Very good. Have good to be here. Thank you.

Ben Handler:

So we’ll chatting earlier and I was pretty surprised. Well not kind of surprise, but you’ve signed up 10 clients in two weeks or three weeks last the last three, four weeks.

 

Ben Plohl:

It’s been, it’s been a bit overwhelming. But to tell you it’s been really good. It’s been really good. Did you expect it to grow this quick? Uh, no. No. So, um, I guess when we first started the business it was, yeah, it’s a, it takes a bit of time but a nurturing. But um, to be honest, I didn’t expect it to be in this position now in such a short space of time. Now that’s, that’s a, that’s a guaranteed. Yeah.

 

Ben Handler:

Okay. So you previously worked in the financial sector? Yes. Did you ever think, you know, five years ago or before that you were going to move into real estate?

 

Ben Plohl:

No. No, I never said no. So I didn’t, didn’t really have an interest or, um, didn’t really cross my mind. So at, say, five years ago, you know, really keen to, to expand the, the, the, the finance career and, and continue to grow. So no, I never really had the thought process of, uh, becoming a buyer’s agent.

 

Ben Handler:

I mean, my, my story is I was working in corporate only for four years and then transitioned into the buyer’s agent role in business and that was still quite difficult. With that change. I mean, you, you’ve had 15 year’s experience in that sector. How was that transition for you?

 

Ben Plohl:

Yeah, it was, um, I guess it was a big leap of faith. Um, I guess when we did the course, um, it really got me interested in, in sort of taking that deep dive into, into the business.

Um, personally, yes, I’ve used my buyer’s agent, um, for a few properties that we purchased in the portfolio. So I understood the process and, and really liked it. Um, and, um, and I thought that with my experience I could, I could add something to, to, to my clients. So, um, I guess it was still a difficult decision to dive into the business. Um, but I guess I took the decision to do it part time, I guess originally. Um, so doing some consulting in the CFO space, part-time business and then, uh, five months ago I’ve, um, decided to go full time, which has been crazy.

 

Ben Handler:

And this is your first business that you now running? Uh, yes. As an entrepreneur running your own business, you’ve got to work plenty hard, but I guess you do have some flexibility. Have you found it?

 

Ben Plohl:

Yeah, it’s been really good.

So I guess background of, of being involved in, in managing large businesses, but it’s totally different when you’re running your own. Um, that’s, it’s been a bit of an eye opener. Uh, but I guess with my background it’s been able to, I’ve been able to sort of make it work from a financial perspective, finance perspective, operations perspective. I kind of understood the process of, of how to run a business. Uh, but it’s still daunting, right? When you’re, when you’re doing it on your own. Um, from a flexibility perspective, it’s been fantastic. Um, you do, you do need to work hard and I guess it is, everyone knows it’s, it’s a tough gig and you need to put in the effort. But, um, I guess from my perspective it’s, um, I’ve got a really young family. It’s given me the opportunity to just spend a bit more time with them I guess, and being flexible, being at home when, when needed.

Ben Handler:

And um, it’s been really good. I remember the, we caught up and you were, uh, working as a consultant for the CFO for that company and you were doing the buyer’s agent work part-time and you’re considering jumping into it full time. And I remember speaking with you and I was thinking, well, you’ve got a massive track record building a portfolio for yourself on a national level. And you’ve obviously got such a significant financial background. So, you know, looking and analysing data and helping clients and yourself making effective decisions, I always just felt you’re going to absolutely nail it. So, I mean, do your clients when they meet with you, obviously feel that with your background and what you’ve done like personally and also professionally that you add a lot to the table? Yeah.

 

Ben Plohl:

Yeah. So pretty much all my clients have, I guess jumped on board and I think they’re really, they’re there. It’s kind of a unique, I guess, position where I’m a chartered accountant and now also buyer’s agent with that, you know, significant experience in investing as well. So a lot of clients have really sort of been drawn to that. Um, and I guess there’s a whole bunch of other things that I can bring to the table. But, um, yeah, from a client perspective, I think that’s what, what’s kind of been a bit of my draw card. Yeah.

 

Ben Handler:

Yeah. Are you following a similar investment strategy for yourself with your client now as you’re running a new buyer’s agent business? Are you following a different strategy you’ve developed?

 

Ben Plohl:

Yeah, 100%. So I’ve, I’m only investing in locations that I’ve personally invested in. It’s something that I’ve, I think it’s been, um, something that I really decided on early on. Um, I’ll only invest in a property that, that I would personally invest in.

So there’s a bit of vested interest there. Um, so my, my personal philosophy is exactly the same, pretty much to, to what I’m adopting from our clients.

 

Ben Handler:

Mostly your client’s coming to you with similar objectives or are you finding it’s quite unique, like a, some focus more on the growth, some focus on year. What are you finding different strategies for different people?

 

Ben Plohl:

Yeah, so we’re getting some people that are, you know, I’ve got some significant, a large portfolio and they, they’re looking for something with a bit of a bit of difference, a bit of X factor, whether it be cashflow, play or whatnot. Um, but then we’re getting a lot of first time investors that I guess they’re at the, the early on stage of their portfolio. Um, so we’re looking at predominantly growth assets for those guys. Um, so yeah, it’s a bit of a mixed bag.

Ben Handler:

And you’re doing resi only not commercial, correct?

 

Ben Plohl:

Yes. So residential only, I think commercial is, uh, it’s, it’s something that I’d probably get into later on down the track, but I think it’s, um, it’s probably more of an education perspective from my, from my end, um, before I, I think go into that market. Yeah. Nice.

 

Ben Handler:

And I also saw online that you bought some minor rocks?

 

Ben Plohl:

Yes. Yeah. So I have done, um, I’ve done a couple of deals, um, in the owner occupied space, very different to, to dealing with investors. It was an enjoyable journey. Um, but I think it, um, it’s sort of highlighted I think where my, um, I guess my interests and my, um, probably my, my passion lies and the thing I do really prefer to deal with with investors. But having said that, there’s a couple of others that have come on board that want assistance in buying their own homes. Um, and I’m happy to, I guess, you know, help those guys out as well.

 

Ben Handler:

How are you enjoying like mentoring your client? I’m sure with your experience now, when you take the client on the journey for, let’s say they’re an unsophisticated invested in, you know, purchased or border, Oh, built a portfolio before, are you enjoying mentoring them and coaching them around your philosophies and what you’ve done?

 

Ben Plohl:

Yeah, yeah. It’s a really enjoyable, um, uh, part of the, of the role. Um, you know, people coming on, coming on board and, and not having any idea of what it’s about. Right. Even a mindset change too. So helping people I guess open up their mindset and um, and look at opportunities outside their own backyard. Um, so it’s been a really enjoyable, I guess part of, of what I do for my clients. It’s, it’s just giving them that grassroot education on, on all things related to property and I guess, you know, helping them leverage off, you know, the experience that off attained over the last 15 years.

Ben Handler:

Nice. And have you, obviously it’s been a short period of time, but have you had any clients go for the second one?

 

Ben Plohl:

Yes. Yeah. So funnily enough, yeah. I’ve had three clients that have bought, bought ’em two properties each quite quite quickly and I’ve just taken on another one that’s looking at three. So there are people out there that um, I guess, uh, sitting on, you know, sizable equity in their home, um, and you sit down with them, you build a strategy and they’re happy to I guess buy multiple properties at the same time or within a short space of time. So that’s been quite enjoyable.

 

Ben Handler:

Are you finding when people come to you, are they really aware of buyer’s agents and the value in the service or do you feel like when you’re meeting with them you’re educating a lot?

 

Ben Plohl:

Yeah, I think it’s a bit of a mixed bag.

As we know, the, the, the industry is still very in its infancy. Um, there are some people that, that do have the understanding of what a buyer’s agent is. And I guess it’s then just you explaining to them, you know, the value that you bring to the table. But there are a lot that, that also come to me and a lot of other buyer’s agents that they have no clue of of what we do and what we’re about. So it is a bit of an education process. Um, and look, you know, it doesn’t suit everybody and as we all know, um, but the people that we can serve and we can help, they understand that concept and they can sort of really see the value that we can bring to the table and, and they jump on board and it’s really good.

 

Ben Handler:

Have you found it challenging? Articulating value to the potential clients who don’t really have an understanding of what we do?

 

Ben Plohl:

Um, look, yeah, it can be challenging, right? So I guess my background is there’s no, um, I guess education around sales, right? I’m not, not a sales person and I never will be. Um, so sometimes it can be a little challenging in articulating, you know, the value that you can bring to the table in what we’re about. Um, but, um, I guess, you know, every day I’m learning something new of, of how do, I guess, you know, portray yourself and, and the service you provide. So you’re learning every day. Yeah.

 

Ben Handler:

What are some of the key, uh, reasons you’re finding why people are engaging your service? Like, is it time poor? Is it they’ve never bought before? Is there a common theme of reasons that you’re noticing?

 

Ben Plohl:

Absolutely. Yeah, it really is.

So I’m mainly working with, you know, busy professionals, so it’s time poor, not having the time to, to devote to, to research and not knowing where to start. Right? It’s, I think a bit of analysis paralysis and, and I know that I felt that many, many years ago when I was going through the process as well. Um, there’s so much information available that people just don’t know where to start. Um, and, and I don’t want to make mistakes. So I think leveraging off, you know, the buyer’s agent is, you know, you really, it’s a bit of an insurance policy, right? You’re, you’re leveraging of someone that’s in the market every day that has access to the data. Um, and that’s, that’s kind of, um, I guess the, the value that these people are, see, yeah.

 

Ben Handler:

I mean for me, I didn’t, I never really understood when I started  my buyer’s agent business 10 years ago why buyers didn’t want professional.

I mean, never grasped it. I mean, real estate agents represent the vendor and the buyer is communicating with the real estate agent who’s representing the vendor who’s not even working for them. It never really stacked up.

 

Ben Plohl:

No, no, you’re right. It’s, um, again, it’s a, it’s an industry education process, which I guess we’re doing through the, through the Institute. It’s just, uh, making people aware that um, when you’re looking for a property and you’re going and speaking to the local selling agent, look, they’re going to be helpful. But you know, we need, they need to understand that their vested interest obviously lies with their, their climate and the vendor. If they want some independent advice, they’ll need to, I guess to come to someone like a buyer’s agent to get some that, some of that unbiased assistance.

 

Ben Handler:

How are you enjoying negotiating with the real estate agents now that you’ve got clients, you’re not doing it for yourself, you must be doing a lot more negotiation.

How are you enjoying it?

 

Ben Plohl:

Yeah, look, that’s a fun part of the job. It’s, um, it is enjoyable that it’s, it’s about getting the best deal for your client and um, uh, yeah, again, you learn something new, every deal that you do. Um, but it’s, it’s good fun.

 

Ben Handler:

And in terms of like speed to buy, is there like an average time, I know you’ve been doing it for about a year now, but an average time that you’re buying for your clients from signup to exchange?

 

Ben Plohl:

Yeah, so I think the quickest was really about two weeks. Um, then some clients that have some, uh, you know, some tricky briefs, uh, it can take up to two months. I’ve had deals that, that have taken that long. Um, probably more so that the owner occupied, um, clients that I’ve dealt with. It does take a bit bit of time.

Um, so yeah, it’s kind of within that three to four week is probably your average period now.

 

Ben Handler:

And average purchase price that you’re doing with your clients?

 

Ben Plohl:

So, um, if we’re looking at, we’re predominantly looking at, um, a lot of your affordable markets in your growth pockets around the country. It’s really around that four 50 to 500,000 Mark is what we’re spending on for most properties for our…

 

Ben Handler:

Yeah, it’s a good sweet spot. And in terms of the property manager, you’re not doing property management. Okay. So you obviously pass them onto a obviously a highly reputable agency that facilitates that management.

 

Ben Plohl:

Yeah, exactly. Yeah. So as part of the process we’ll put people, we’ll put our clients in touch with, with other professionals being, you know, conveyancers and, and obviously your property managers as well. So we’ll give them a couple to choose from and it’s up to them to really make the decision of who they think will be best suited to them.

Ben Handler”:

Yeah. Nice. And in terms of your clients, they come from marketing or like how have your clients, cause I mean you’ve got, you’ve had 10 in a short amount of time, like where they come from. If you don’t mind me asking.

 

Ben Plohl:

Yeah, so it’s a bit of a mixed bag. Again, it’s um, it’s, I think in the early stage of the business it was my personal network, um, putting my name out there and then people saying, yes, let’s do it. Um, um, some referrals from partners, I mean mortgage brokers is probably my best. Um, and then I’m actually already seeing referrals from past clients, which is really, really great and I think that’s the model that you would like to get to. Um, and then there’s a little bit on face on, on Facebook and, and uh, and other social media channels. Um, I’ve been fortunate enough to be on a couple of different podcasts.

So, you do get your name out there and um, and people reach out that way.

 

Ben Handler:

Yeah, I mean we were talking earlier about that referral based business and you know, to get to that, you know, 80%, 90%, even a hundred percent referral based business is really the Nirvana of where you want to get to..

 

Ben Plohl:

100%. Yeah. So if you can, if you can base your business model on, on a referral based model, I think it’ll be a sort of, like you said, an Nirvana. Absolutely.

 

Ben Handler:

And what about next year for, for plans for you and your business? I mean, it’s growing quickly, you’re getting a lot of traction. Uh, you’re signing up a lot of clients doing good deals. What are the plans for 2020?

 

Ben Plohl:

Yeah, so, um, like I mentioned before, I’ve just engaged some marketing assistance. So a lot of my, um, the business hasn’t really been, I’m reliant on marketing as such.

Um, but I’m really just becoming a little more sophisticated in that respect and things like systems and processes. It’s just really, um, you know, mapping them out and trying to refine them using technology wherever possible. And, um, I think in this day and age we’re quite lucky and fortunate that we have access to some really cool tools that, um, that can streamline your business. So, so next year is really about just growing as much as we possibly can. Um, but also, you know, we want to, I want to, um, keep the business, um, a decent size where it’s still a boutique type of agency. I don’t really have the plans of, of sort of just growing for the sake of growing. Um, I think surface levels is crucial, um, for what I’m about and what I’m offering. So, um, as long as we can grow but also sustain, you know, solid, um, you know, client service, then that they’ll be happy with that.

Ben Handler:

Yeah. The client service, you’d never want to drop that. I guess just going back to owner-occ, you went through that experience, you wasn’t where you need to be. Would you consider hiring a buyer’s agent to carry out that for your company? Is that something that you’d look at?

 

Ben Plohl:

Yeah, look, absolutely. So, um, um, that would be an opportunity if I had, you know, a bit of, um, you know, an influx of, of inquiries for the owner space. Um, special. I’m based in the Hills of Sydney and that is a bit of an untouched market for from a buyer’s agent perspective are a couple of operators. But I see that as a big opportunity. Um, so yeah, potentially that that’s something, um, that, that, that I could look at.

 

Ben Handler:

Awesome. And we’re, where can people find you?

 

Ben Plohl:

Um, so websites’,  bfpproperty.com, um, all the links to two emails and phones are on there.

 

Ben Handler:

So, and your LinkedIn, I’m sure.

 

Ben Plohl:

Yeah, LinkedIn, Instagram, Facebook and they’ll also the website

 

Ben Handler:

You know, I really appreciate it. Thanks so much. It’s been awesome chatting. And I mean, from my perspective, just seeing someone with so much experience, like, uh, not just in buying property, but I think just professional experience and then in a short amount of time, like literally less than a year, get your business up and running, doing deals, signing up clients, and really take the leap of faith to move on from the corporate world. It’s a lot of courage. And I mean, just seeing that from my, from my lens has been, I mean, it’s inspirational. It’s been an, it’s been amazing to see what you’ve achieved. So I just wanted to take congratulations and I know you’re going to smash 2020.

 

Ben Plohl:

Thanks, Ben!

 

Ben Handler:

So closing up now, and for those of you who haven’t seen Ben, you can visit his website at bfpproperty.com. Ben is super switched on with servicing investment clients on a national level. So I highly recommend you check him out. As he said, you can check them out on LinkedIn or Facebook, Instagram, but visit his website. We’ll see you next week. See you there.

 

Please watch the full episode here:

 

Have you considered turning buying property into a career?
To find out more, come and watch this free web-class:
Watch the Free Webclass Here

To find your nearest Buyer’s Agent, Click here:

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Modern Buying Agents Tips: Little Known Ways to Buy Your Dream Home Fast

Buy my House Fast

When it comes to buying a house, it’s easy for most buyers to get lost in the process. 

And I don’t blame them. There’s so much to do. 

I’ve seen even the calmest, accomplished and high performing executive becomes stressed with the nuances of buying a house.   

And what it comes down to is… often buyers don’t know who to get to inspect the property, what contractors they need to use. Another factor is that they don’t buy houses every day, so they don’t often know how to differentiate the good lenders from the bad ones. 

Too often, house buyers  “stick to what they know” and they work with people they “trust” or know… but this is often the worst thing they can do. 

When buyers, “stick to what they know” it can slow everything down and even disrupt the house buying process. 

But when you buy a house, you want everything to go as smoothly as it can. Especially when it comes to buying your dream home because you don’t want it to become a living nightmare. 

When you buy your dream home, your emotions will be at an all-time high. And when you’re trying to do it quickly… it’s even worse. 

A great way to buy your dream home fast is to use a Buyer’s Agent. And they can also help to reduce the stress of buying a house. 

A Buyers’ Agent will work with you to get things done quickly, efficiently… and properly. 

They usually have a team of professionals they can refer to help get things done. 

And because they have all worked together before, they are more open to helping each other out. So this means things can move fast. 

But if you tried to buy a house the old fashioned way of going through a Real Estate agent, you’re always on their time schedule. And because they represent the seller, not you… that means you can only go as fast as they are prepared to let you. 

And that’s not a fair way to treat someone who is about to make one of the largest purchases in their lifetime! Or someone who is about to hand over hundreds of thousands of dollars. 

I mean if you were going to pay a comparable amount of money for a car… you’d be treated with a ton of respect. And that’s because the salesperson knows that without a buyer… their prestige cars sit in the showroom and collect dust. 

The same thing happens with houses… but buyers aren’t often treated with the respect they deserve. 

But it doesn’t have to be that way, because a Buyer’s Agent looks after you and your needs as a house buyer. 

More and more house buyers in Australia are using Buyer’s Agents to help them to buy their new home. 

Gone are the days when you had to do everything on the seller’s terms and schedule. 

Fortunately, the number of Buyer’s Agents in Australia is increasing to meet the demand of the home buyer market. And as their numbers grow, they are changing the house buying market for the better. 

If you need or want to buy your dream home fast, then I know of no better way to do it than to use a Buyer’s Agent. 

To find your nearest Buyer’s Agent, Click here:

Find an Agent

Have you considered turning buying property into a career?
To find out more, come and watch this free web-class:
Watch the Free Webclass Here