Property Sourcing Training: Learn Property Deal Sourcing and Packaging
The real estate market in the United Kingdom currently employs over 550,000 people, with more than 110,000 working with large cooperation employing over 111,000 people.
More people than ever are joining the property sourcing and deal sourcing workforce.
Are you wondering if a job as a deal sourcer or property sourcer is for you? What will be the required qualification for you to start the job? How much money can you make while working as a property sourcer/deal sourcer?
Well, don’t worry then; we will answer all of your questions.
We have broken down into simpler parts all the required information, knowledge, and guidance to answer all your questions.
The best part is there’s no qualification required to be a deal sourcer.
So, without further ado, let’s kickstart the learning process.
Property Deal Sourcing Training & Coaching
What does it mean to be a Deal Sourcer?
As a deal sourcer, you must work closely with clients to understand their needs. You must be clear about what the investor wants, their budget, and what they are looking for in short-term or long-term investments.
A property sourcer’s job is not confined to this; a deal sourcing property sourcer must have the local knowledge so you can guide the investor in making correct decisions.
The property sourcer must do a background check of the seller to ensure that the property has all the required documents and the seller is legit.
Now that you are clear on what is a deal sourcer, let’s talk about the major things you need to learn about how to deal with source property.
- Property sourcing and deal packaging
- Systemising your property sourcing deals
- Assessing a deal (Gross, Net and ROI)
- Time management
- Communication skills
- Being transparent
Property Deal Sourcing Courses
A major question while taking the how-to source property deals courses is what you should expect to learn from them. What previous experience do they require?
Here’s what you should gain from professional property deal trading courses.
Deal sourcing property in the UK is a social business, so it is important to develop good communication skills.
Maintaining good relations with clients and building a strong network with people will come in handy. Also, these skills will come in handy while negotiating.
A major part of sourcing properties comprises analysing, scrutinising and researching the properties in the location. You should learn to research interest rates, mortgage rates and different finance options. Extensive background research of the industry and individuals will always be a plus.
Meeting clients and vendors, visiting properties, and doing property checks can be time-consuming, so time management becomes very useful and ensures you will manage time well.
It’s so much better to work with limited clients in the beginning so you can understand them inside and out and can cater to their every requirement. Don’t think twice before going for a standalone deal. Not every deal needs to be a multi-unit deal.
It may not be legal compliance, but a property deal sourcer in the UK must ensure that all the information is put forth in front of the seller, investor, and tenants regarding money, property condition, documents required, etc.
Also, an honest source will not be tortuous and always straightforward. So future deal sourcers, always be as upfront and transparent with a client as you can be.
There are a few legal aspects that a deal sourcer must comply with. A property deal sourcer must make sure that they achieve property sourcing compliance. A property sourcer needs to make sure that they have looked into the following:-
Anti-Money Laundering Probe
The sourcer must register with HMRC for anti-money laundering compliance, especially while handling client money. Before closing any deal, the sourcer must register and pay the fee. A failure to register can be a cause for penalty.
Since the client’s money is involved, a property sourcer needs to ensure an insurance cover in case any mistake is made from your end, which may cause financial loss to the investor. The sourcer must cover all of this under an insurance policy, which should be clarified to the investor so as not to keep the investor in the dark.
Information Commissioner’s Office (ICO) Registration
A property sourcer will handle any personal information of the buyer, seller, tenants and renters. Property sourcer must register with the ICO for data protection and enforce multiple privacy policies for protecting data.
Member of a Property Ombudsman Scheme
A property sourcer must become a member of a Property Ombudsman Scheme.
Deal Sourcing for Beginners
Property experience can be useful, but it is not a must. So if you are a beginner, worry not.
There is so much scope for beginners in this field. You must build a network of people and have good field knowledge.
It will get easier with the right guidance and strategies. Learning becomes much more fun with a good, experienced, knowledgeable mentor. A proper mentor will help you solve all the issues you will face while working in deal sourcing.
Learning property deal sourcing and packaging is a great skill that can help you build a strong career.
Being the leading property sourcing training company in the UK, we at Cash Flow With Property are open to provide with the basic and advanced courses for those who are interested in property investment.
If you have what it takes to work in the best property sourcing agency in the country, you can get in touch with our experts.
What is the secret of property investments?
Research, good guidance and expert advice are the most important ways to get good results from any investment.
What is a good online property course?
Multiple property deal sourcing courses are available online, which can help a beginner or even an experienced person start their journey as a property sourcer. Make sure you opt for a descriptive program that contains face-to-face interaction with the mentor, and if they are willing you to take on the field, that’s just a cherry on top of the cake.
What are the top 4 property investment must-read books?
The top 4 books we will recommend are:
1. How to Invest in Real Estate: The Beginner’s Guide to Getting Started – Brandon Turner & Joshua Dorkin
2. The Millionaire Real Estate Investor – Gary Keller, Jay Papasan & Dave Jenks
3. The Book on Investing in Real Estate with No (and Low) Money Down – Brandon Turner
4. The Book on Flipping Houses