What to look for in a property advisor
An experienced property advisor will guide you through the process, devising strategies that are tailored to your specific circumstances and aims. But what sort of credentials should they have?
So, let’s take a couple of minutes examining exactly what to look for in a property advisor.
Someone who listens
Providing advice is as much about listening as it is about offering insight. Any property advisor worth their salt will first want to learn about you, and what you’re hoping to achieve. They will be looking to understand your current position, in addition to the financial goals you have for the future.
Listening allows them to create a strategy that works for you, and seek out the right property or properties to meet your needs.
After all, property investing is not a case where one-size fits all.
As you seek out the right person to work with, you should be looking at their track record of proven results. Ask them about specific examples of the success they have facilitated, look for reviews and testimonials about their service.
A truly professional property advisor should offer these to you in the form of case studies, allowing you to gain an insight into how they work and what they have achieved.
Your property advisor should be working for you – not a bank, not a mortgage broker and not a developer. Only when they are truly impartial will they offer advice that’s tailored to you.
That makes it very important to determine whether the property advisor you are considering receives any financial incentives from within the property industry.
Personally, we believe this is a key question every potential investor should ask of their advisor – do you receive any commissions or do you have any financial stake in the people/properties you recommend?
An individual strategy
Does your property advisor have just one strategy that they use with all their customers, or is each piece of advice tailored to the individuals they work with? When it comes to investing in property, the answer should be the latter.
Every investor is different, each has individual aims. That’s why it’s critical to find an advisor who seeks to understand you as an individual and will then work with you to create a suitable property investment plan.
A property advisor you can work with
Last but not least, a property advisor should be someone you feel you can work with. This is a relationship built on trust where you are seeking out their expertise.
You should feel valued by your advisor and understood. Their advice should be clear and succinct yet offer an insight into the why behind the strategies they suggest.
These strategies should be explained in terms you understand, and your advisor should be willing and available to answer the questions you have.
Find the right person and this will likely be a relationship that endures, allowing you to increase your knowledge and grow your wealth through property over time.