Buying property – The incompetent agent

Once again, the poor ability of the real estate agent strikes again. As I posted in Buying property – Lazy agents, I have been in the process of buying an investment property through a less then impressive realtor.

Not only had he posted out of date photos that reflected the property in a poor light but he accepted, without negotiation, an offer that I consider was a fair bit under market value. His actions so far have not been to the benefit of the vendor.

Settlement date was due in a few days, when I received a call from my solicitor advising that the vendor was requesting an extension. The reason being that the owner was still looking for a property to rent. As I had been informed that the property was occupied by a renter and the owner was an investor, I saw no reason why the owner needed an extension for that reason. From my experience, it is usually the buyer that is seeking an extension to finalise finances.

So, I asked the solicitor ‘What does the owner looking for a new rental have anything to do with me?’. To which she replied ‘She is still living in the property (the one I sought to buy)’. I reviewed the contract and yes, the owner address was listed as the property address.

I called the agent to enquire and he apologetically confirmed that he thought the resident was a tenant and not the owner. The owner was still living at the property.

Ok, my bad also for not noticing on the contract but the agent had confirmed more than once that the ‘tenant’ was living in the property.

I ended up agreeing to the extension and the property settled a week later than initial contract date. An inconvenience to me only but did result in postponing potential open home viewings for prospective tenants.

It is interesting to note that the realtor had advised me that he had been in the business for 25 years. I would normally expect that an agent of 25 years would have better negotiation skills, have a sound understanding of his stock in hand and probably doing better than selling very low-level property.

Needless to say, if I do need to sell the property I will be looking elsewhere. If I need to buy again, however, he will be my go to man!

Should I or shouldn’t I?

A higher opportunity has become available at work.

Positives:

  • I know I can do the job
  • It pays more than I receive now
  • It may open up other opportunities
  • I consider I would be competitive in winning the job

Negatives:

  • No variety to the role
  • A negative work culture
  • A fair percentage of lazy work colleagues
  • The work environment could be more pleasant

I’m enjoying the work at my current location and my colleagues overall are good to work with. Other than money, there is no reason why I would want to change.

However, I have a goal to retire early. The only way I can achieve that is to have more money. I have investment strategies in place but again, I need money to fund them.

I always recommend someone should do what they enjoy. At another time I would.

Decision made. Pain today to relax tomorrow.

I will apply today.

Sacrificing now for the long-term goal

My life at the moment:

  • Sleep
  • Work. Pick up overtime and extra shifts if possible
  • Eat
  • Shower/brush teeth
  • Train at gym
  • Feed cat (x several)
  • Shop for food. Buy sale options if possible
  • Renovate home to add value
  • Listen to podcasts
    • Property investing
    • Entrepreneurs
    • True crime
  • Review potential investment properties online
  • Watch TV
  • Blog
  • General home chores

What I’m not doing:

  • Socialising. I’m in a new city and haven’t made an effort to make friends outside of work to reduce obligation to socialise (I know, a bit sad)
  • Buying new clothes, except as a necessity. Work uniform supplied and live in t-shirts and tracksuit pants the rest of time
  • Drinking alcohol excessively (a couple of beers weekly now only)
  • Eating out. Very occasional pizza ordered with savings coupon
  • Spending money on entertainment. i.e. cinema

Sound boring? Yeah, it kind of is but I’m suffering for my goal at the moment. My main thought at the moment is money, with the goal of not having to worry about money in 5 years. My goal is so strong that my boring life doesn’t feel boring. I have a purpose and I feel motivated daily.

My lifestyle up to now has been less than financially effective. Though I have managed to accrue a little money through property capital gain, I really haven’t saved a considerable amount and definitely not enough to retire.

5 years is a fair time to go without but I’m putting it in perspective. If the next 5 years of sacrifice allows me to relax in retirement, the time is well worth it.

Whatever you do, do it great!

“If a man is called to be a street sweeper, he should sweep streets even as a Michaelangelo painted, or Beethoven composed music or Shakespeare wrote poetry. He should sweep streets so well that all the hosts of heaven and earth will pause to say, ‘Here lived a great street sweeper who did his job well.

Martin Luther King Jr

A great quote! Whatever the job is, do it to your best. Never consider a job too small or below you.

If an opportunity arises, don’t let your work ethic or attitude be the reasons you miss out.

If you don’t have the right skills, have the right attitude

‘Attitude is a little thing that makes a big difference’

Winston Churchill

I’ve never started a job with the skill level to hit the ground running. My education level is moderate at best and I haven’t any specialised qualifications. Therefore, I generally start a new role with minimal real ability to perform the duties.

What I do have however, is the right attitude. I start every new role with enthusiasm and with a learning mindset. In some ways, my lack of knowledge is an advantage as I don’t go in with a ‘know it all’ attitude. I don’t know what I’m doing and any opportunity is a chance to learn.

My current role serves as an example. If someone asked me to deal with an aggravated customer, I get onto it immediately without complaint. If I’m asked to clean up vomit or a particularly nasty toilet incident, I go and do it immediately. If I’m stuck with a full shift or just standing at the top of a broken escalator to perform customer service, I’m there.

These examples are not especially complex but they are not everyone’s idea of a good time. The point is, I do them and take the opportunity to learn. I might learn some strategies to manage the aggravated customer to use the next time. I get to use my communication skills with the broken escalator. I might not learn a lot while cleaning up a messy toilet but it is a mindless task that allows me to reflect on ways to make money or for other productive thought.

I have applied the positive attitude to every role I have held for the last decade. This attitude has given me the reputation as someone that is reliable and can be counted on to assist when needed. This has resulted in many opportunities being offered to me that were definitely beyond my education level and skill. Many times, these offers have been made ahead of people with considerably more experience in the role then I had.

It surprises me that I see many long-term and new starters that are reluctant to undertake tasks and make excuses. I get it, no one wants to clean up a blocked toilet. It is smelly and unpleasant. I won’t lie, there have been times I have been dry retching while cleaning up.

You know what though, when it’s time to offer an extra shift, overtime or a spell at a higher role, they will be asking the guy with the right attitude, not the guy that complains every time they are asked to do something.

Sometimes money finds you

You just have to be at the right place at the right time sometimes.

I had just turned up to start a shift yesterday when a vacancy for a Sunday shift became available. I put my hand up for it immediately, even though it would reduce the length of my weekend. It’s all about priorities at the moment though. The chance to work 8 hours double time on a relatively quiet evening Sunday shift is a good financial bonus I can’t pass up.

Later in the shift, the manager on duty asked if it would be ok to alter a shift for the following week to finish at a later time. Again, I agreed immediately. The changed shift would result in 12.5% penalties being applied, while the previous shift didn’t. This more or less gives me an additional hours pay for the same amount of work.

Finally, approaching the end of my shift, some problems occurred on the network and trains were suspended. This means there were a lot of upset customers to manage. At the same time, it became apparent shifts had been messed up and there was no replacement for me. I was offered overtime until the replacement arrived. Again, I found it difficult to say no to a few more dollars in my pocket, so I agreed again.

Interestingly, I was only pondering that morning how I could accumulate some extra money by the end of the year. Maybe putting the thoughts out to the universe attracted some money my way.