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Who Qualifies as a Property Investment Expert?

should you follow expertsWhen property market runs through its bullish phase there is no dearth of experts proclaiming how they got it right all the way. Often, they are able to influence masses into believing they are the real pundits. This said, it is no hard guess that not even half of these ‘experts’ are truly so. How best can we then ascertain who the real ‘follow-worthy- guy is and who may swindle us of our hard-earned money. May be few small tests can help us, let’s keep reading.

Do they have undivided loyalty towards you?

Figure out whose loyalty your expert keeps. For instance, a buyer’s agent you pay fees to has singular loyalty towards you whereas a real estate agent on commission with the vendor may not have your best interests in mind. So it may help to know where is the money leading and what vested interests may be involved.

Do they have a portfolio to boast?

Are they the kind who just have advice up their sleeve or they also have their property investment portfolio to back what they understand of the real estate game. Experts with profitable investment portfolio have a firsthand understanding of the game and they know how a growth cycle or a trough phases out better than others.

Are their strategies in line with your needs?

Never be any less diligent than required in gauging whether strategies and objectives suggested by the experts are in line with your needs. May be what they are saying makes a lot of financial sense but it may be of no use if it goes against your strategies. Case in point is real estate agents (read experts) who lure us into SMSF-based borrowing.

An expert may be so in every sense of the term but you must thoroughly enquire if he is before you gear up to follow him.

What do you check before following an expert?