Our strategists had the planning discussion and now we have the brief! It’s key that we review all the information as the acquisition team solely rely on this information to find the right property for our clients. The more information you can find about the client’s situation, goals and desires. The better your understanding of the most suitable property.
Table of Contents
What is a client brief?
A client brief is a detailed summary outlining a client’s specific requirements and preferences for purchasing a property that is required for their portfolio. The brief contains all the relevant quantitative and qualitative information such as the location, budget, yield. This brief serves as a foundation for aligning the property search efforts with the client’s needs to ensure a focused and efficient property acquisition process.
Here’s an example of a brief on Attio
What’s the ideal outcome
The ideal outcome of this process is to successfully match clients with suitable properties while maximizing efficiency and ensuring that all briefs are handled in a timely manner. This leads to improved client satisfaction and optimized property selection.
How do the strategists create a brief
You'll typically create the brief while planning initial purchase numbers. The Attio brief section provides multiple fields to help the acquisition team match properties precisely to clients' needs.
Creating a detailed brief is essential. The clearer and more specific you are about client requirements, the easier it becomes for the acquisition team to find their ideal property.
Here’s the details they collect for the brief:
Date: Search Started
This is where you enter the date the search has commenced, so we can track how long the client has been searching for
Purchase Type
This is the entity which the client is purchasing the property in, such as a trust, personal name, SMSF etc.
Locations
Clients often have concerns about different locations, from capital cities versus regional areas to weather risks, unfamiliar markets, and population sizes. It's essential to identify which factors truly impact investment outcomes and which don't, then tactfully discuss any locations clients might initially dismiss.
- Land tax considerations can be valid when excluding certain locations, though we generally avoid making it a primary factor as we aim to diversify portfolios. Remember to check land tax thresholds for both personal names and different structures, and consider whether clients purchasing with a partner can split land tax obligations.
Min Price
Some clients have a minimum purchase price in mind. While it's best to ask them directly, if they don't specify, you can typically set this at 100k-250k below their Max Price.
Max Price
The maximum purchase price the client can afford or is willing to spend. This is typically limited by either borrowing capacity or deposit amount. If deposit is the limiting factor, the strategist will discuss the option of 88% LVR with LMI if the client is open to it.
- Clients often have psychological barriers around maximum purchase prices, but breaking down the numbers can show these concerns are usually overstated.
- For example, when comparing a $200k increase in budget (based on 4.5% yield, $100k income, 80% LVR, 6.5% interest rate):
- The difference is just $1,500 per year ($30 per week) in cashflow, while providing an upside of $10,000 in capital growth at 5% growth
Yield (%)
The minimum required yield for this purchase brief. This requirement typically comes from the client rather than the broker. The strategist will respectfully challenge clients if they request yields higher than what's available in our target markets, as they could miss out on excellent opportunities over a small cash flow difference.
- The cash flow calculator is a valuable tool for demonstrating this point.
- For perspective, a 0.5% difference in yield only amounts to about $35 per week after tax (based on a $600k property, $100k income, 80% LVR, and 6.5% interest rate).
Property condition
Some clients prefer properties that need minor improvements, while others want only new or recently renovated homes. This field captures their preference for property condition.
Renovation Potential
This indicates whether clients are willing to undertake minor renovations that our team and property manager would oversee. Some clients prefer properties needing no work, while others are open to improvements. This is a simple Yes/No field.
Renovation Potential Max Budget
The maximum the client would spend on a renovation
Development potential
This field indicates whether clients specifically want properties with development potential. While the strategist may communicate to clients that we cannot guarantee development approval, we capture this requirement if they specify it.
Limitations
This field is to capture any potential limitations from them purchasing a higher priced property. e.g. Borrowing capacity, cashflows, etc.
Additional requirements
This field is to capture any additional detail that doesn’t fit in the above fields i.e not looking for renovation or won’t consider something north/east facing.
Pause Notes
Not for creating briefs, but a field so we know why a client has been paused
Finance Status
A field to note if clients can proceed without a finance clause. A great negotiation tool for the PAAs to use!
Understanding the Buying Pipeline on Attio
Gain clarity on the buying pipeline stages, their meaning, and relevance to your role. Knowing the different stages of the buying pipeline will allow you to verify you have the maximum variety of clients briefs to choose from.
Here’s Steve taking you through it below:
Here’s the list explaining the steps below:
Searching:
- These are client briefs ready to purchase but not yet matched with a property.
- All acquisition team members can view these briefs, and the goal is to find properties for these clients promptly.
Presenting:
- A property has been assigned to a brief, and the acquisition team is either in the process of presenting or has already presented the property to the client.
Submitted Offer:
- The client has given us the green light to proceed and the team is actively negotiating with the real estate agent to secure the property.
Offer Accepted:
- The seller has accepted our client’s offer. This stage marks the pre-celebration before moving forward with the transaction.
Exchanged:
- Contracts have been signed by both parties, dated, and an initial deposit (if required) has been paid.
Unconditional:
- Key steps like building and pest inspections, finance approval, legal paperwork, and any clause negotiations have been completed.
- Any deposit balance is also settled at this stage.
Settled:
- The client now officially owns the property, having paid the full purchase price, and the transaction is complete.
Post-Settlement:
- Follow-up to ensure smooth client outcomes, such as:
- Managing renovations if planned.
- Confirming tenancy to avoid vacancy.
- Assisting with depreciation schedules and other post-settlement tips.
Lost/Declined:
- Rare stage where a client ends their agreement with the team and no longer uses the services.
Paused:
- The client intends to purchase but cannot currently proceed due to personal or financial challenges (e.g., job loss or financial constraints).
How to find out more information about a client brief on Attio
We’re going to go through how to find out more information about your client briefs on Attio below. Learn how to gather detailed information about a client’s brief to make better decisions during property searches.
Here’s the list of steps below:
Navigate to the Buying Pipeline:
- Open the buying pipeline to access the list of client cards.
Access the Client Profile:
- Identify the client (e.g., Gayle) you want to learn more about.
- Click on the client’s card to open their profile.
Expand Client Details:
- Within the profile, click "Show All Values" to display additional client details.
Review the Brief Summary:
- Locate the "Brief Summary" section.
- Click on it to reveal detailed information such as:
- Maximum price (e.g., $710k limit).
- Rental yield requirement (e.g., 3.8%).
- Preferred location (e.g., Brisbane).
- Specific property features (e.g., renovation potential).
- Note key limitations or preferences (e.g., no properties above $710k).
Check Rejected Properties:
- Review the list of rejected properties in the profile.
- Investigate reasons for rejections to understand the client’s specific dislikes or deal-breakers.
Additional Details:
- Look for other information in the profile that could provide insights into the client’s preferences or requirements.
Next Steps:
- If more information is needed, proceed to check the client’s WhatsApp group for relevant discussions and additional context (to be covered in a separate video).
Allocating the right property to the right client
The client allocation process is designed to efficiently manage client briefs, ensuring that each property is matched with the appropriate client. This process involves reviewing available briefs, assessing their urgency, and making informed decisions about the correct property selection within Attio based off their brief criteria.
Understanding the property pipeline
Knowing the property pipeline will give you an advantage when matching properties to client briefs. There may be specific details which might qualify or disqualify the property for your client’s brief. Understanding how to access the information and what properties are available is key.
Here’s the list of steps below:
Properties:
- The property has passed due diligence, been uploaded into Attio, and is awaiting a decision from the PAA.
Property Delayed:
- The PAA is waiting for additional details (e.g., videos, lease information, contracts) before making a decision but hasn’t ruled the property out.
Reporting:
- A suitable client has been identified, and comparative market analysis (CMA) reports for sales and rent, along with the cash flow sheet, are being prepared.
Presenting:
- Reports are completed, and the property has been presented to the client or is in the process of being presented.
Submitted Offer:
- The client has approved proceeding with negotiations, and the team is actively negotiating with the real estate agent.
Offer Accepted:
- The seller has accepted the client’s offer, and paperwork is being finalised.
Exchanged:
- Both buyer and seller have signed the contract, an initial deposit is paid, and the contract is dated.
Unconditional:
- Pest and building inspections (if required) are complete, finance is approved, and the cooling-off period or any clauses have been finalised. A deposit balance may also be paid at this stage.
Settled:
- The client has completed the full payment, paperwork, and officially owns the property.
Post-Settlement:
- Follow-up to ensure the property is rented (if applicable), renovations are progressing smoothly, and the client has tools like depreciation schedules for optimal investment outcomes.
Declined:
- The client decides not to proceed with the property, typically occurring during the presenting stage.
Not Suitable:
- The PAA determines the property is unsuitable due to factors such as price, lack of a suitable client, failed due diligence, or being the wrong type of property or location.
Missed Opportunity:
- The property was being considered, but it was sold before reports or further steps could be completed.
Lost:
- The team actively pursued the property, made an offer, but was outbid or had less favourable terms.
Archive:
- Rarely used, this is primarily for backend management and data purposes.
How to allocate properties to clients
Matching clients with properties in Attio is all about being thorough and prioritising effectively. Start by focusing on urgent clients and reviewing their briefs for budget, preferred locations, and specific needs. Then, evaluate the property details to ensure it aligns with their preferences. Use filters in Attio to quickly identify suitable matches and consult strategists like Kit or Adrian if you're unsure about fit.
Always check for rejected properties to avoid repeating past issues and reach out to strategists for context when needed. Once you're confident, present the property to the client and document progress. It’s a process that requires careful attention but ensures a smooth experience for both the team and the client.
Here’s the list of steps:
Access Attio and Navigate:
- Go to the Buying Pipeline section.
- Click on the drop down menu titled ‘All briefs’ and select your personalised brief view.
- Choose the board view, there is an alternate spreadsheet view as well.
Match Property with Client:
- Filter and sort clients based on the property’s price and features:
- Filter by selecting the plus + symbol below.
- Use filters like “budget greater than” for quick searches i.e if a property is $750k, filtering via max price of ‘greater than’ $725k i.e example below.
- Consider all urgent clients first, then high and medium priority if no match is found.
- Click on Priority and then click Sort descending to have URGENT at the top.
- Cross-check the property’s attributes with client briefs (e.g., location, budget, yield, and preferences).
- Consult client-specific notes or strategists (e.g., Kit or Adrian) if unsure.
Evaluate Property Details:
- Go to the Properties section in Attio.
- Click on the drop down menu titled ‘All Properties’ and select your personalised Property view.
- Identify the property in Attio you wish to allocate to this client and ensure due diligence (e.g., flood/fire checks) has been completed.
- Click into the property profile.
- Review property features such as location, price, type (e.g., brick asset), size, and condition.
- Confirm the property aligns with client preferences (e.g., location, price, and condition).
Client Priority:
- Focus on urgent clients first, followed by high and medium priority.
- Use colour coding to identify priorities and review search start dates to understand urgency.
Review Client Briefs:
- Click on the client briefs of urgent or relevant clients.
- Examine details such as:
- Budget range (minimum and maximum price).
- Preferred locations and exclusions.
- Notes about preferences, conditions, and any specific requirements (e.g., SMSF or renovation potential).
- Rejected properties to avoid presenting similar unsuitable options.
Validate Rejections:
- If a client has rejected similar properties, investigate the reasons by:
- Reviewing the declined/rejected properties list i.e see below in the client brief.
- Speaking with strategists or acquisition team members for insights.
- Reviewing client WhatsApp conversations.
Communicate with Strategists:
- Reach out to strategists (Kit, Jessie, Tom or Adrian) for context on client preferences, objections, or suitability.
- Confirm if the property aligns with the client’s updated requirements.
Present to the Client:
- Once a match is validated, proceed to present the property to the client via their communication channel (e.g., WhatsApp).
Monitor Allocation Progress:
- Keep track of the client’s response and feedback.
- Leave comments on the client brief located on the right side of the screen.
- Document interactions and outcomes in Attio for reference.
Refine Approach:
- Regularly review and refine the matching process using insights from strategists, client feedback, and Attio records.
Final Tips
Property Status:
- Confirm a property is available and then decide whether to move a property to "delayed" if you wish to keep it or "not suitable" if you plan to move on.
Urgency:
- Always prioritise urgent clients but don’t hesitate to move to high/medium priority if no match is found.
Double check the brief:
- Double-check client briefs for changes or updates before presenting.
Check with the Strategist:
- Engage with strategists for added clarity, especially for unique or high-priority clients.
Filtering:
- Use Attio filters and tools effectively to save time and ensure accuracy.
Client Allocation:
Assign yourself to the brief and the property in the presenting sections in Attio once a brief is allocated.
Back Up Client:
Sometimes client’s will say no or not respond, having a back up client ready can be the difference between missing out on a deal or not.
Now you know how to allocate a property to the right client, the InvestorKit way. Time to get the reports together so we can share this property quickly as properties are always selling quickly. See you in the next one!
Learning Competency Checklist
1. Understanding the Definition and Purpose of a Client Brief
- Competency: Demonstrate a clear understanding of what a client brief is and its role in aligning property searches with client requirements.
- Pass Criteria:
- The candidate clearly articulates the definition, purpose, and key components of a client brief.
- Fail Criteria:
- The candidate is unable to accurately define a client brief or omits critical elements such as location, budget, and yield.
2. Recognising the Ideal Outcome of the Client Brief Process
- Competency: Understand and explain the ideal outcome of managing client briefs.
- Pass Criteria:
- The candidate explains that the goal is to match clients with suitable properties efficiently, leading to enhanced client satisfaction and optimized property selection.
- Fail Criteria:
- The candidate fails to articulate the intended outcome or shows an unclear understanding of how briefs impact the acquisition process.
3. Understanding the Creation of Client Briefs by Strategists
- Competency: Demonstrate knowledge of how client briefs are created and the critical details collected.
- Pass Criteria:
- The candidate outlines the key details captured in a brief (e.g., search start date, purchase type, locations, min/max price, yield, property condition, renovation potential, etc.).
- Fail Criteria:
- The candidate omits significant fields or fails to convey why detailed information is essential for matching properties.
4. Understanding the Buying Pipeline on Attio
- Competency: Demonstrate a clear understanding of the stages within the buying pipeline and their relevance.
- Pass Criteria:
- The candidate identifies and describes each stage (e.g., Searching, Presenting, Submitted Offer, Offer Accepted, Exchanged, Unconditional, Settled, Post-Settlement, Lost/Declined, Paused).
- Fail Criteria:
- The candidate is unable to list or explain the significance of the various stages in the pipeline.
5. Extracting and Reviewing Detailed Client Brief Information
- Competency: Know how to access and review detailed information about client briefs on Attio.
- Pass Criteria:
- The candidate explains the process of navigating to client briefs, expanding details, and reviewing summaries (including rejected properties).
- Fail Criteria:
- The candidate cannot locate or interpret the detailed client information necessary for decision-making.
6. Allocating Properties to Clients Based on Briefs
- Competency: Understand the process of matching properties to client briefs using the available tools and filters in Attio.
- Pass Criteria:
- The candidate outlines the steps for filtering client briefs, cross-checking property attributes with client requirements, and consulting with strategists when needed.
- Fail Criteria:
- The candidate is unable to describe how to allocate properties effectively or does not consider key client criteria during the matching process.
7. Navigating Attio for Client Brief Management
- Competency: Demonstrate proficiency in using Attio to manage and update client briefs.
- Pass Criteria:
- The candidate describes how to access the buying pipeline, apply filters, sort clients by urgency, and update notes on client profiles.
- Fail Criteria:
- The candidate shows little familiarity with Attio functionalities or is unable to utilize its features for managing client briefs.
8. Evaluating Client Briefs and Validating Rejections
- Competency: Understand how to review client briefs, including rejected properties, and validate the reasons for rejection.
- Pass Criteria:
- The candidate explains how to analyze brief summaries and check rejected properties to avoid repeating unsuitable options.
- Fail Criteria:
- The candidate fails to recognize or investigate the reasons behind property rejections in client briefs.
9. Consulting Strategists and Updating Brief Information
- Competency: Demonstrate an understanding of when and how to seek additional context or clarification on client briefs.
- Pass Criteria:
- The candidate explains the importance of communicating with strategists for insights and ensuring that client briefs are current and accurate.
- Fail Criteria:
- The candidate does not recognize the need for consultation or updating briefs when new information arises.
10. Recognizing the Impact of a Detailed Client Brief on Property Acquisition
- Competency: Understand how a comprehensive and accurate client brief contributes to the efficiency of the property acquisition process.
- Pass Criteria:
- The candidate articulates the link between detailed briefs and successful, streamlined property matching and client satisfaction.
- Fail Criteria:
- The candidate fails to connect the quality of a client brief with improved outcomes in property acquisitions.
11. Applying Best Practices in Client Allocation
- Competency: Demonstrate knowledge of best practices for allocating properties to clients, including prioritizing urgent briefs and documenting interactions.
- Pass Criteria:
- The candidate explains the steps to allocate properties, including using filters, prioritizing based on urgency, and recording progress in Attio.
- Fail Criteria:
- The candidate is unable to detail the process for effective client allocation or overlooks key best practices.