Estate Agents reveal the secrets to getting the best deals - Ep 46

[@TheSajHussain]

What has been your experience of getting deals from Estate Agents?

[@yahyaraje]

Great concept love it, simple business idea but effective. The fact you both have a estate agency background helps massively. Looking forward working with you guys

[@KhalidKarim72]

Another great episode, interesting to hear from someone in Lettings, to Deal Sourcing then progress to Property Investing

[@TheSajHussain]

Yes, it's was the realisation for them that sourcing is way more profitable

[@MilesV8]

Sounds like an interesting platform. But I'm majorly concerned about compliance here. As a sourcer, I have to vet investors before I even show them a deal. This means completing full AML checks such as checking POF and where the funds have come from, plus doing digital verification on the investor themselves. Only once this has been done and it is all in order can deals be shown to investors. How would I know as a sourcer that the full legal compliance has been done? The completed compliance information on the investor also needs to be available to the sourcer, will this be available? I have been inspected by HMRC in the past as they randomly pick out sourcing companies and request full proof of AML compliance on the completed deals. Otherwise there is a risk of a significant fine. If this AML information isn't available to the sourcers then the platform isn't operating in line with legal requirements.

[@amalali504]

Great interview as always. the 50% is a fair cut for a beginner sourcer or the cowboy sort who skip on due diligence or don't have the capacity for Admin. It isn't for someone who has some experience and a good team or Solicitor who can manage the process once deal is signed.

[@SITEFINDR]

Absolutely agree, if you’re at the point where you have a full team of staff; administrators, solicitors, managers, sales progress team, compliance team then yes agreed you’re good to go. If you find you’re managing the full process yourself then potentially not enough is being leveraged in order to scale to full potential. That’s where Sitefindr comes in to allow you to focus on finding more great deals.

[@amalali504]

@@SITEFINDR Thank you for your feedback. I do see the value in the services you offer. Would your offerings facilitate brokering a joint venture? E.g where I have a deal, having a JV partner “vetted” by yourselves is & if it’s a match I’d pay you a fee. If not now perhaps in the future as it would expand your reach beyond the wholesale of a deal.

[@Ganndalf]

50% is 3 x the industry average (15 - 18%) for this compliancy service.

[@mirajali4144]

Aslamualikum is it only property or can put care home deals, commercial etc?

[@rickp2293]

These guys are annoying amateurs

[@keepitsharp7231]

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