Should You Attend a Property Seminar or Hire a Buyer’s Agent?

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What is going to be a better investment of your time and money? A property course, seminar or hiring a buyers agent?
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Transcription:

For a lot of property investors, there may come a time where they feel like they need some help to take them to the next level in their property investing. That might be the kick them out the bomb to get them to buy that first property, or maybe they’ve hit a wall and they want some help moving forward to grow their portfolio, but is it better to spend that money on a property coach attending a seminar or to actually go ahead and hire a buyer’s agent? These are all really expensive options, so it’s important that you know which options best for you before you go ahead and pay the money. Hey, I’m Ryan from on-property dot com dot EU. I help people invest in property and achieve financial freedom and that’s what we’re going to be looking at in this episode. Whether or not you should hire a property coach, attend a seminar or hire a buyer’s agent.

So what we’re gonna do is we’re going to look at what each of these options are. Then we’re going to look at some of the pros and cons of each of these so you can make a decision for yourself as to what you think is worth your money. If anything. Okay, so let’s have a look at an overview of what these things are. So property coach, look, to be honest, there’s not that many property coaches out there, so maybe I shouldn’t have included it in this video, but a property coach to me would be a mentor. Somebody that you would sit down with, you look at your personal situation, look at your financial goals, and to help walk you through exactly how to achieve that as well as keep you on track to say, okay, what’s the next step for you? What do you need to do next?

And then check in with you. Have you done that step? So the only property mentors that I’ve seen out there where you’ve got your free strategy sessions with pumped on property where they do that sort of mentorship model in a smaller way, but the other mentors I’ve seen out there, the kind of mentors, but then they’re also trying to sell you new build property that they make a commission on, which I believe is kind of like a conflict of interest. So in terms of coaches and mentors out there, in terms of paying for them, I don’t think there’s that many great options that I know about. But I do know that a lot of people get property coaches and mentors for free. Just people in their life who have already done it and achieved it. You’ve also got seminars or courses, so seminars or courses generally costs in the range of maybe one or $2,000 up to five, maybe even $10,000.

And so this could be an online course where they take you through a high level concept and how exactly to implement that concept. So this could be something like Jane [inaudible] Smith’s course on the ultimate guide to renovation, which is a great course on how to make a profit through renovating property. She goes through everything from selecting the right suburbs and the right properties to different types of renovations and how to implement them. So that’s quite an expensive course in the thousands of dollars, but there’s a lot of great content in there. There’s also a community around that as well to help you. And so there you have online courses. Seminars are generally in person events that you would attend. These are generally, again, thousands of dollars, 2000, 3000, $5,000, maybe even $10,000 to attend a seminar, which might be a couple of days or could be a week long where you sit in a room with a whole bunch of other investors.

People go on stage and they’ll talk through different strategies. They’ll talk through lots of things relating to property and how to implement those strategies. And then you’ve got on the flip side of that, you’ve got a buyer’s agent. So a buyer’s agent is someone that you hire to actually do most of the leg work for you. So here in Australia when investors purchase property, the majority of the time they don’t have someone working with them. There’s a seller’s agent who’s selling the property. But as the investor, you’re dealing directly with the seller’s agent in order to negotiate and buy that property. You’re doing the research, you’re doing the inspections, you’re negotiating your buying the property. A buyer’s agent is someone that you would hire that would do all of that for you. So they would select the suburb, they will find the good properties, they would inspect those properties, and then when it comes time to it, they would negotiate with a real estate agent on your behalf and help you settle on that property.

So that’s a buyer’s agent. That’s someone who does it for you. Now there’s really two things to think about here. One of them is skills and what skills will you build? And one of them is what’s the end result and what action will be taken. So one of the great things about online courses and seminars is that you can learn a whole bunch of new ideas. You can learn a whole bunch of new skills, so something that you might not get from a buyer’s agent who does it for you. You could get from a course and for investors out there who they want to do this, they want to build up those skills. They want to become a successful investor. Maybe they want to spend their time doing this. They really enjoy it. They want this to be their career. That may be the best path for you because it means that you’re going to build up these skills that you can use time and time again in order to continue to make money in property.

Because really, when you look at the people who are successful in property, they kind of just rinse and repeat. They find a strategy that works for them that makes them money, and then they’d do it over and over and over and over again. So they build up those skills, which is hard in the beginning, but then they have those skills and then they know how to implement that strategy. So they just repeat it and it becomes boring. So if that sounds like you and that’s the avenue that you want to take, then courses and seminars could be the best for you. You do need to be careful though because there’s a lot of people out there who will attend these courses or go to these seminars but won’t actually take any action. So if you’re not one of those people who’s really self driven, really able to take action by yourself.

I do see courses and seminars as being quite risky because they can lead to extreme overwhelmed. I’ve seen this in a lot of people’s lives. This has happened in my own life as well. You’re getting so much content, so much good content that you just don’t know what to do with it, that there’s so many level things that you can do. There’s so many awesome strategies. You walk out really inspired, really passionate, but you don’t know what those next steps are. And there’s so many things to choose from that you become overwhelmed. So there is a massive risk of that with courses and with seminars. I’ve gone through that myself when I was maybe 18, 19, I purchased the course from this guy called Robert g dot Allen for about 6,000 US dollars and I think like the exchange rate at the time was like one point three or something.

So you’re looking at even more money in Australian dollars. And I purchased that course which was about investing in real estate building businesses, making money online infopreneurship, which is a word that they had made up on the time. So it had all of these different aspects to it, different ways to make money. And that course for me was a complete waste of time. There were some really good content in there, but it was really high level stuff. And then when it came to actually implementing it and the next steps, they didn’t really provide that for me. So they were talking about making money online through, you know, selling ebooks at the time. Because this was what, maybe 10 years ago, maybe even more than that, and they would talk about this idea, but then when it comes down to, okay, well how do you start a website?

How do you use html, how do you get attention to your website? All of this sort of stuff. They didn’t really teach and so for me that course was a huge waste of money. It actually wasn’t because it led me down this path of online entrepreneurship, building other passive income online, which eventually led to my financial freedom about eight or nine years later and so it wasn’t a complete waste of time. I’m totally glad I spent that money because it started me on this path, but in terms of the course itself, do I think it was worth the money? No, I don’t. It led to massive overwhelm for me. I didn’t have the next steps that I needed and so it led to me basically fumbling around and doing not a lot for the next couple of years as I tried to work this thing out. How do you actually get attention online?

All of this sort of stuff. So it was a good course, but it was too high level lead to overwhelm and I see that happening a lot with people at these seminars and at these courses there’s a lot of people that attend them and then they just don’t end up taking any action. So I think it’s good to have a gut check and be really honest with yourself. Are you likely going to be one of those people that you’ll attend a seminar and that you won’t take any action. You’ll also need to be careful as well because a lot of these seminars have upsells as well. So you might attend a 3000, four thousand five thousand dollars seminar, but then at that seminar they want to upsell you into their 10, $15,000 mentorship program. So they just want to keep getting you to pay money. But without actually taking any action.

So I would attend something that was really specific to taking action or I really like courses that are really specific to build up a really specific skills that you’re then going to take action on. Like I have a course on to do suburb research, which I think is a vital step in anyone’s progression towards being a property investor. You need to know how to choose the best suburbs, how to avoid the worst suburbs. Of course there’s cheap. I sell it for like a $100 that on-property dot you for sash suburb and I’ll leave the links in the description down below, but that course is really geared towards one specific skill. I also have a course on how to find positive cash flow properties all over Australia, so I teach you the exact methods I use to find it, so it’s like one skill. Again, that’s about $100.

That course, you can check that out on property.com, forward slash find if you’re interested in learning that skill. So I love courses like that. That’s why I create those because I’m like, this is one skill that if you pay for this course and do this course and learn it, it’s not going to take you long to learn, but you’re going to learn this skill and then you’ll have it for life that you can use over and over again. So I love the education staff where it’s building up those skills that you can use over and over again. I don’t like the staff where it’s going to overwhelm you and lead you to not take any action. Now, let’s look at the idea of a buyer’s agent, so buyer’s agent in someone that is going to go out there and basically do it for you. Ideally, you want to work with a buyer’s agent who’s going to teach you along the way, and that’s part of the reason that I partner with pumped on property is that they actually teach their clients and do the mentorship as well as being the buyer’s agent and doing it for them.

But I will put a disclaimer out there that I do work closely with a buyer’s agent pumped on property and I do recommend people to them and if you go to them and let them know that you came from on property, I do get a referral fee for that. So I guess take this with a grain of salt because part of my income does come from that. Um, so yeah, I always like to be transparent there. So a buyer’s agent, I used to think a buyer’s agents were a waste of money and a waste of time because I was all about the skills all about people learning to do it themselves so they can rinse and repeat it over and over again. But as I’ve been in this property space longer, I’ve seen so many people learn everything they need to learn. They were, had the skills if they would just practice them, but they don’t take any action.

And then 10 years down the track they’re in the same position that they were in previously. So I, like I, as I said, I attended that course and didn’t do much with it for a couple of years and I’ve seen a lot of friends attend seminars and not doing anything with it. The thing that I love about buyer’s agents is that you get a result at the end of the day, and this is, I guess what I want to wrap the whole episode in, is what is going to be the end result for you? Is the end result going to move you towards financial freedom? Or is it going to take you further away from financial freedom because you’ve invested this money and you’ve got nothing to show for it. So the thing I love about working with buyers agents, the thing I love about getting people to use buyers agents is that at the end of the day, they get a result because there’s so many people out there who don’t take action for one or another.

Having someone that you hire, a buyer’s agent that is going to get you, that result, like the whole purpose that you hire a buyer’s agent is that you buy a property, they will help you buy a property and so at the end of the day, the relationship with the buyers agency ends when you purchased that property, well, I guess the relationship doesn’t end, but that transaction where you hired them for a specific thing, it ends when you’ve purchased and settled and own that property. And so that’s what I love about buyer’s agent is that yes, they can be quite expensive and they charge different amounts depending on what type of buyers agent they are pumped on property charge a fixed fee at the time of recording this, other buyers agencies work on a percentage commission, so maybe two percent, three percent of the purchase price of a property. So there’s different buyers agents out there that charge different amounts, but by agents can be expensive, but at the end of the day you’re going to get a result which is a property that you’ve purchased and this is the thing.

If you get that result, if you’ve actually purchased that property, you are so much closer now to financial freedom, assuming that you hired a good buyer’s agent and that you purchased a good property. And so that’s what I love, is that when you hire a buyer’s agent, you’ve taken that step and purchase a property and you’re now one major step closer to your goal of financial freedom. Especially if you’re interested in the two properties to financial freedom strategy that me and Ben talked about. If you haven’t seen that episode, go ahead, check it out on property.com dot EU four dash five. Oh, eight. Or leave the links in the description down below. But if you’re interested in that, two properties to financial freedom strategy, then you can hire pumped on property to help you purchase the two properties, help you build the granny flats, and you can actually build your foundation for financial freedom.

You can collect your foundational properties and be done so you hire the buyer’s agent and you get the result of having your foundational properties and now it’s up to you to accelerate that and to pay it off. Or if you want to grow that, then obviously you can go ahead and do that. So a buyer’s agent, in a lot of cases, a buyer’s agent. You might not learn as much as if you go to a seminar or if you attend a course, but you will get that end result of actually owning a property and being a major step closer to financial freedom by his agent. Ideally, you want to be working with one who really knows their suburbs and really knows the area really good at negotiating and so whatever fee that you’re paying for the buyer’s agent, ideally you would probably make that back in the first 12 months in capital growth or in like buying under market value.

Or maybe there’s renovation opportunity in that property. Because buyers agents are looking at so many properties. They can identify the best ones and purchase a better property than you would have been able to do so they’d cost money. Yes, you’ve got to pay out of pocket in order to hire a buyer’s agent, but then ideally you should be making that money back in some by purchasing a high quality property. I will also say be very careful of the property mentors out there who are offering their services for free. If they’re marketing new build products to use. So if they’re saying you should buy this house and land package or a new build products, so they’re offering their service for free. They’re going to be your mentor and your best friend. You know, they’re just doing it at the goodness of their heart. But if they’re only selling you new build products, there is a high chance that they’re making a commission on the sale of new build products.

And so I believe that’s a conflict of interest where they’re pretending to be your mentor, but really they’re making money on the sale of new build products and so they’re only going to recommend that even if it would be better for you to purchase existing properties that have already been built. So I always like to go the route of actually paying someone, hiring that person and making sure there’s no conflict of interest there rather than going for like a free property coach or free property mentor that’s actually making their money by selling overprice new build products like new build properties. So just be very careful there. Do your research, do due diligence, ask them how much they make and if they’re aloof about it, just run. Or if they’re offering something with a guaranteed rental return, just run like there’s so many red flags out there.

And maybe I should do a video on that. Actually a deer. I did a video on the problems with house and land packages, so I will link that up as well. Down below or in the show notes of today’s episode at [inaudible] Dot Com. You four dash five, 39, thrown out a lot of links in this episode, so yeah, I’ll probably.com dot four slash 5:39. I’ll put all the links in the show notes there, so yeah, they have it. What do you think at the moment you’ve got courses, you’ve got seminars, you’ve got buyers agent. Are you someone that wants to build up those skills and do it yourself? It may be a bit harder to get started and may take you a bit longer than hiring a buyer’s agent who’s going to do it for you, but you really feel like this is going to be your career.

This is going to be your future. You want to build up those skills and so you think of seminars worth that or you think a high level course is worth it, or maybe you think a cheaper course like the ones that I offer are worth it, so that might be you, but if you’re the person who attends a lot of courses but never actually takes any action, it may be better for you to actually hire a buyer’s agent who’s going to go out there and do it for you and at the end of the day you’re going to get that result. You’re going to own that property and you’re going to be a major step closer to financial freedom or whatever your financial goals may be. So have a think about that. Obviously it’s up to you. I think you can see through this video that I lean more towards hiring a buyer’s agent, especially someone who will mentor you as well because you kind of get the best of both worlds, but really for me, it’s about the end result and getting that action.

I hate seeing people do courses, attend seminars, and not actually have anything to show for it. At the end of the day, I get people ask me all the time if I’ll be their property coach or what sort of coaching service I offer, and I had been really hesitant to do it because I don’t want to offer this product where people will go through the course of the coaching program but won’t have an end result. I want people to get an end result and that’s why I choose to work really closely with pumped on property, the buyer’s agency, because I love. I love when people from the on-property community go across them and at the end of the day they purchase one, two, three, four properties and they’re building towards that financial freedom. I even met up with a guy just the other day who was up in Noosa on holidays.

He’s already purchased a bunch of properties, basically has his foundational properties anyway, but he’s going to hire a buyer’s agent. Will is likely, I don’t know. We’ll see. Hire a buyer’s agent to grow his foundational property, so to get some of those cash flow properties and so even though he’s been a successful investor now he wants someone to help him with the Brisbane market, so he’s going ahead and hire buyer’s agent. He’s going to get an end result where his purchase of property probably build a granny flat as well, and so it’s money well spent for him. So yeah, it’s up to you guys. What you want to do. I hope this has given you a bit of insight. If you are interested in maybe hiring a buyer’s agent and you think, yeah, this is for me, I want to do something where I’m going to have an end result.

At the end of the day I’m going to have that big step towards my financial freedom. Then the team over at pumped on property are offering free strategy sessions to listen as avant property, so head over to on property.com, forward slash session. You can learn more about that free strategy session over there without kind of act like your mentor on this, our call and they’ll talk through where you are now, what are the obstacles stopping you, where do you want to be and what are your next steps going to be so you can get that free mentorship and then if you want to go and hire them, obviously you can or you can go off and do it yourself. So again, that’s on property.com, forward slash session if you’re interested in getting a free strategy session there. Um, but yeah, I hope that this has been helpful. Please don’t forget to subscribe to the channel as we’re releasing new videos five times a week at the moment, every single week, day. There’s a good mix out. There are videos that I do with my wife, videos that are doing with ben or Simon or other investors or stuff like this where I’m just talking by myself. So go ahead and subscribe to the channel and until next time, stay positive.