buyer agents

Hi,

Richmastery has been discussed here many times. Perhaps use the “Search” function.

Their fees are expensive, somewhere around $4-$5,000. Depending what type of property you are looking for, I’d contact either “Westan” for South Island properties, or MiniMogul, for North Island properties. Their fees are much cheaper, and their service is thorough. I know both of them personally, and I would trust both of them totally.

Of course it does depend which area etc. that you are looking for.

Good luck,
Del

Hi Steve,

Richmastery has been operating now for 5 years and the value and authenticity of our deals is well established by thousands of very happy buyers.

The finders fee we charge ranges from $1995 to $4995 depending on the amount below market valuation that we can secure the property at. We have no shortage of buyers happy to pay $4995 for a property that is $20K to $40K below market value.

Wilandel is correct there are many other one man band property finders who operate but few of them have the negotiation power we do (currently we act for 46,000 active NZ property investors).

We have an established track record, operate in established physical offices in Auckland, Tauranga, Wellington and Christchurch in NZ, currebntly have 40 staff nationwide sourcing deals for investors and stand behind what we sell with satisfaction guarantees.

Happy to answer any ither questions. I recommend you visit our Forums at the email address below.

Richmastery Customer Services
[email protected]
http://www.richmastery.com

Real People, Real Strategies, Real Results
Giving you the Power to Change

Re: Richmastery,

“few of them have the negotiation power we do (currently we act for 46,000 active NZ property investors). “

Hah! Good try!

Well, I am one of the 46,000 on their list (and how special that makes me feel, NOT) and though I am *definitely* an active NZ property investor,
richmastery don’t ‘act’ for me. We don’t ‘act’ for our clients either, (unless they are ‘deals to order’ clients which is a personalised service – and even then we find and pitch deals to the client who decides the action to take, we don’t ‘act for’ most of our clients.) Like richmastery we sign up and pitch deals to the client list on spec, and being on the list for a while and seeing what we have to offer is part of gaining trust if not also learning about the current market. Also I would bet that with the richmastery multitudes (just like with our list) you’d have a percentage that are ‘active’ because they purchase through us/them, a percentage that are ‘active’ that don’t purchase through us but might – or purchase elsewhere or by themselves – and a percentage who are ‘on the list looking’ but not necessarily active (yet) and may never be.

Also you only need one ‘active’ investor per deal and so it doesn’t really matter how many thousand spare you have. It’s not like even richmastery would say ‘hello Mrs agent, here is an offer on a property which we are then going to assign to 46,000 clients’ – they are just going to pitch it to their clients for one to take the deal. I would say that it would be a statistical certainty that richmastery with 46000 clients would have more tyrekickers on their list than we would! We don’t have a website or advertise (unless you could call this post advertising) – it’s all word of mouth. Also we have too few deals to go around as it is, so I don’t actually want so many more clients because it’s not respectful to the clients we already have, a lot of whom are pre-approved and waiting for a deal!

As far as ‘having the negotiation power of 46,000 investors’ well, that’s obviously something your spotters can try and bamboozle agents with, as of course we do by waving our ‘client purchasing power’ at agents. It’s obvious that anyone doing repeat business is going to get into a fantastic position with agents to get deals first, and of course that is part of how come we can sign up deals 1-2 percent better yields than the average person can find. It’s being given those special deals that never make the net in many cases, all of that. For sure the buying power of a group benefits the individuals in that group, as does the market knowledge gained by doing so many deals all the time instead of just our own. In the end it comes down to our spotter’s relationship with agents, and agents choosing our offer over another buyer’s offer at the same price, often, because they know us, and of our good reputation for having clients that will complete the deal and having very few ‘fall over’ – less than 1 or 2 percent over the last year!

This is to my business partner’s credit who makes sure that all information flows between us, agent, client, lawyers, financier, and inspectors and that the client is sort of baby-sat through the purchasing process, right down to helping them get tradies to fix up any problems and appointing the best rental manager that we know of in the area! I am not sure how much of this richmastery do but we very much offer that as well as the deal, which I know from experience is as much part of the deal as the bricks and sticks itself.

Now I have a network of few spotters and all of them are investors, and I am very much hands on.
I started off with one client, finding one deal at a time for one client. Pretty soon I had a waiting list of 3 clients, and then suddenly I had 30 clients, then 50 – all about a year and a half ago and all pretty quickly. (there are more than that now, but I don’t like to disclose it because if you say ‘x’ clients some think ‘too many, I am not special’ and some think ‘too small, you are obviously not richmastery’, that’s the only reason why – nowadays we are only as big or small as ‘here’s a deal, and here’s a client who wants the deal’ basically! ) It all started when I posted here on this forum 10 deals of 15 percent + yields from an agent I knew in Levin, I had just bought and there were so many deals out there at the time! I was just trying to help (for free!) and said ‘there are too many deals for me, you guys are always complaining about the lack of CF+ve properties, here you go, email me and I’ll tell you the agent’. Only to ensure that the agent would continue to present me all the great deals in the future, that was all i was hoping to get out of it. The forum practically crashed as did my email (1700 reads of the thread before it was closed down by Steve saying OK no more emails to Mini!) which led to me being asked to find someone deals for a fee. During this process I realised it was not just the deal, but who’s the best building inspector? rental agent? What is a LIM? do I need one? etc 120 questions, that was as much part of the ‘mystery’ of buying in NZ as the deal itself, so my business was sort of created and grown by demand, rather than the other way around. The charging was agreed with the original clients, and I had to keep putting it up as I figured out how much TIME it actually took, to answer all the questions and just generally ‘liase’ and help someone get it all over the line. Hold their hand and help them from a to z. The fees have crept up to what they are now, which is $2200 for the cheapies and then more for blocks of units etc. A lot of the information has since been written out by me, so there are less new questions, because I have heard questions from 100 clients or more now and tend to know what people need to know and when and how they need to know it! It’s evolved into a quite streamlined system, yet still has a personal touch and personal service. When I began working with spotters it was fantastic because I could cover more ground, but my network is the tightest and best qualified group of spotters you’d find anywhere, and I would bet my entire portfolio on that being true! Okay!
I never wanted to be as big as richmastery, but this is basically because I enjoy giving a personal service. Also I will say this much, we are in the market and we KNOW what agents are saying about ‘other spotters/flippers/flickers’ which may or may not be richmastery, and I also know that many times we are having to say ‘but we are different’ because we ARE! – as damage control in areas where other spotters/flippers/flickers have ‘pooped’ and left droppings, so to speak.

OK so what I do notice on richmastery is that they will buy (say) 10 x city apartments and then sell them individually. “six sold, only 4 left!” I mean, yeah, fantastic, buy in bulk and sell individually in any shape or form is an extremely good strategy.
Also richmastery offer a valuation included in the fee which is an important factor in ‘proving’ that a deal is a good deal, so that’s valid, and if I were buying one of ten identical properties they are flicking let’s say an apartment, I would def. want a valuation to back the deal up.

We don’t offer valuations with ours, simply because on a 65k property (say) some lenders don’t need one, and if we paid for one upfront, it would be more risk upfront for us so our fees would have to be higher. A lot of clients do get a val anyway and are 99 percent of the time happy to find that we have secured a deal under valuation for them. Any probs with the val or builder’s we go and negotiate, and have an excellent win/win/win/win/win (yes, a win for five parties!) procedure in place for this.

So my conclusion – yes, def, richmastery is a trusted ‘brand name’ and yes they do provide properties under valuation, with proof, and 20-40k under val is quite good for a 5k fee, and they do tend to specialise in higher priced and city properties. whereas we specialise in lower priced entry level properties CF+ve with an upside’. Although when it comes down to it a deal is a deal and we are all just a service to help investors who don’t know a market get a deal.
I would recommend all our clients to also go on the richmastery list, why not.
I have nothing bad to say about them and I don’t see them as competition even though others would, we are different, and we co-exist. I hardly ever came up against us and richmastery trying to go for the same deal, so, it’s all good as far as I am concerned. And Vive La Difference!

As a full time investor in New Zealand I must say it’s sad to see all this to ing and froing. Kiwis love to bad mouth anyone successful and Phil Jones and Richmastery have been very successful at training investors. Their deasl are always as good as anyone else in the market and their advice is very valuable. Lets celebrate each others successes and get on with profitable investing.

You may be interested in these articles

Richmastery advertising a bit rich

ESC’s variable guarantee

and there’s lots more at http://www.propertytalk.co.nz if you search on either ESC or Richmastery. They have a very loyal following so must be doing something right [eh]

Hi Guys,

Richmastery has been operating for 5 years with thousands of happy customers. We stand behind everything we do with 100% Money Back Guarantees and are just about to release a book containing evidence of over 40 investors in NZ and Aus that have followed the principles we teach and received outstanding results.

The articles referred to above are very historical, conveniently leave out the core facts and have had detailed information posted on our web site informing customers of the full story. eg

http://www.richmastery.com/nz/forums/Default.aspx?g=posts&t=343

We are a professional credible company and are happy to direct investors to the correct information so they can have all the answers.

Richmastery Customer Services
[email protected]
http://www.richmastery.com

Real People, Real Strategies, Real Results
Giving you the Power to Change

Cats,

Our monitoring and response to forum questions is done by a team of people in our customer services department.

Richmastery Customer Services
[email protected]
http://www.richmastery.com

Real People, Real Strategies, Real Results
Giving you the Power to Change

If you are looking for property finders in Auckland, you might also like to try http://www.hybridgroup.co.nz

Maybe I am missing something. How does having lots of clients mean you can negotiate a better price? Maybe the bulk purchasing of apartments? But if I was selling a house, would I care how many clients the buyer has and change my price accordingly? Surely the price is the price, regardless of how many clients the buyer has.

Andrew
http://www.rentmaster.co.nz
Software for Landlords

Still in School..

There is more to negotiation than whats on the contract. By representing so many investors we can buy in bulk rather than just purchasing a single unit like one investor could.

Our purchasing power enables us to secure larger discounts than an individual could.

Richmastery Customer Services
[email protected]
http://www.richmastery.com

Real People, Real Strategies, Real Results
Giving you the Power to Change