16. After finding a deal, speak with other agents in the area to get a better idea on the neighbourhood
Agents are obviously in the business to make money so the better light they can cast on their
property listing the better.
There’s nothing wrong with this unless of course they outright lie, however as a property investor the responsibility is yours to do your due diligence and discover any “dirt” a
property’s neighbourhood might hold.
A great way to ferret out information such as lousy neighbours, a very busy street or vandals, is to speak to agents who know the area.
Agents are very busy people, so the more information you’ve gathered upfront, the better your chances of finding someone who will agree to speak with you.
Call a rival real estate agent and tell him that you’ve put in an offer on a property his competitor is listing. Ask him what he thinks about the property, including its location. His answer might be very revealing, especially if he was unable to sell it himself.
Depending upon what you find out, you can potentially have the ammunition you need to get a reduction in price or a change in the terms of the deal.