Many Real Estate Agents are programmed to help the client at all cost and have a personality that no job is to big from them, even if this in uncharted territory. They will seek out what they believe to be the answers.
What you want is an agent that understands investing and can guide you in the right direction. You should look for agents who also invest in Real Estate. Believe it or not most agents do not invest in the field they work. This makes absolutely no sense. If you’re looking for help buying investments, especially if you’re new to the game, it will be much easier if your realtor knows the ins and outs of investing in Real Estate, whether it be a single family home, duplex, four-plex or larger multi-family.
Don’t work with someone who doesn’t trust their knowledge enough to invest in it. The other important factor is that this agent needs to have working knowledge of the property management aspect as well as market trends for leasing properties in areas you are looking to buy. You need the full package from your agent. There is nothing worse than buying a property that takes way too long to lease. Valuable income is lost and you watch your returns dwindle.
The Unique Advantages of an Investor Realtor
An investor realtor can help you find better deals that will help you succeed because of their connections and how they think. Investors naturally seek out other investors to talk about investing. Like minds always find a way to get together and learn from each other. The more connections they have in the investing community, the more they know and the more likely they are to hear about good investments that haven’t hit the market yet. Good deals go fast; you want someone always searching for the good deals who has the ability to locate them first. So how do you find someone who’s always on the lookout? Find a realtor who invests and here’s why.
The investor agent is always looking for deal, we frequently call them “œdeal junkies” which simply means they strive daily to locate properties that will yield higher returns. Their internal programming keeps them searching
In looking for an agent that specializes in investment properties do your research. Look for agents that advertise investment properties. Below are questions to ask and prospective agent and they should have the answers
- Do you invest in Real Estate? How many properties do you own?
- You’re looking for and agent that believes in their ability to find investment properties because they buy themselves. You also want to know their proven track record.
- How many investors do you currently work with? How do you help them?
- This is important to know that they have knowledge and understanding in this field. You want an agent that is full time and lives and breathes investment properties.
- How many Properties do you close a year?
- You want an agent that closes about 20-30 a year. To low and they may be a part time agent with less ambition and too high and they may not have time for you. If the number is high ask them if they have a team and how that is structured. A Team can usually handle 60 deals a year if structured properly.
- How do you find the properties that yield higher returns?
- You are looking for someone or a team that has many systems in place to find both on and off market properties. You’re looking for someone who understands what a good return is and how you need to buy to get that return.
- What kind of training have you had and how do you stay up with market changes?
- This person should stay up on all market trends, keep up with education and invest in themselves as well.