A property sourcer is an expert in finding investment opportunities for investors that meet their goals. When looking for a property sourcer, here are five things to consider:
- Experience: Look for a property sourcer who has extensive experience in the industry. They should have a deep understanding of the local market and be able to identify opportunities that meet your investment criteria.
- Transparency: A good property sourcer should be able to articulate clearly how the procure deals. Sending links directly from Rightmove is not deal sourcing. A good sourcer builds relationships with agents, does direct to vendor marketing and many other ways of securing property at a discount or on preferable terms. They should act ethically and secure deals for investor while also treating vendors with respect and making the deal a Win/Win for all parties concerned.
- Due Diligence: A property sourcer should conduct thorough due diligence on every property they recommend. This includes researching the property’s history, analysing the comparables, factoring in any costs such as refurbishment or finance fees to ensure it’s a viable investment.
- Communication: It’s essential to work with a property sourcer who communicates effectively and keeps you updated throughout the process. They should be responsive to your questions and concerns and provide regular progress reports.
- Fees: It’s important to understand the property sourcer’s fee structure upfront. Look for a transparent fee structure that aligns with your investment goals. A good property sourcer should be able to demonstrate the value they bring to the table and justify their fees.