How to find a good investor-friendly realtor

Question

I'm just starting out with investing in Real Estate, and I'm looking for some advice on how to find a good investor-friendly realtor.

Would love to hear how any of you have went about finding a trustworthy and/or experienced agent that has helped you invest in properties, (some questions you asked, some mistakes you could have made, etc.), whether they be local or long distance.

I'm also looking into getting into this line of work, so any advice on how to provide value for those in the field would be great as well.

Jake Pritchard · Answer

@Luca Perinuzzi I went through this a few months back in two separate markets. I interviewed several agents and actually found both agents that I ended up going with on the BP agent finder, so that is worth checking out.

Here are the questions I prepared before the calls:

Do you invest in real estate yourself?

Do you exclusively work with investors?

What sets you apart from other real estate agents who work with investors?

Do you have a team?

How do you find your deals? On market, off market?

What is your take on the Austin/San Antonio markets?

How long have you been working in this market?

How many deals have you closed?

Can you help me find new contractors/lenders/property managers/etc.?

How do you prefer to communicate?

Explain our situation. Tell them about our 1-5 year goals.

If you were in our shoes, what strategy would you deploy?

What are other investors in our market doing right now?

Emily Valenzuela · Answer

The first question I would ask is if they have any experience working with investors. (When they say yes, ask them what type of investors, and how many they have worked with)

It might also be a good idea to ask the agent what their process is or how they work with investors (agents with more experience will likely have figured out a different way of working with these types of clients as it is not economically efficient to work with them the same way as a "typical home buyer"

You will want to make sure the agent is a good resource for you so I would also ask the agent if they have any good lenders they can recommend for the particular strategy of investing you are trying to do. (If they only recommend traditional finance options- move on). Also ask if they know any good contractors or remodel companies that they recommend.

As to your last comment about considering this line of work and advice about providing value on the field I have 2 comments:

First, perhaps consider working for/with an agent as a marketing assistant or something of the sort. This will give you access to their data systems and tools with out having to get licensed or have a bunch of restrictions placed upon you. It is ok and maybe even better if that agent does not necessarily work with investors. Then you can help this agent find solutions (or be the solution) for their customers that do not have a market ready home to sell.

Secondly, if by bringing value to the field you meant the agents, then you will be a much better client for your agent if you have a clear picture of what you want. The more specific, clear, and focused you are on exactly what you want the better the agent will be able to serve you. The following are some questions I typically ask when an investor calls me looking for an investor friendly REALTOR:

What type of investor are you (Wholesale, Buy & Hold, etc)?

What is the maximum you want to spend (this is for search parameters)?

How do you plan to finance it? What kind of ROI are you looking for?

What type of real estate do you want to purchase (SFR, Multi-family, Mobile Home, etc)?

What are you looking for in a property (#of bedrooms, sq.ft, age of home, etc)

What area do you want to purchase in?

What current processes do you have for finding properties and getting them under contract?

Are you willing to sign a Buyers Representation Agreement if we decided to work together (if the agent sounds like they check all your boxes the answer should be yes :)

I hope that answer was helpful! Please feel free to DM if you would like to discuss further or are interested in purchasing any investment properties in North or Central Texas.

Michael Smythe · Answer

first, understand that at least 95% of RE agents have no clue about working with investors and investment properties.

Just ask them to explain to you what the difference is between ROI and Cash-On-Cash returns.

Start networking with other investors in your area and ask them for referrals.

Just be careful about your expectations. Every newbie investor expects an agent to make them their #1 client and do a bunch of work for free. The investor agents you want to work with, won't put up with this. They expect you to have done your own learning, so if they bring you a deal, you won't ask them a hundred questions about it because you don't know how to properly analyze it yourself.

Rogelio M. · Answer

@Luca Perinuzzi

The best forum thread I have found on the topic of finding an Investment Realtor vs. a Residential Realtor ....

https://www.biggerpockets.com/forums/12/topics/1108757-findi...

Hope this helps!

Colin Higgins · Answer

Couldn't agree more, having a buy box and the ability to anylize and do some leg work on your own will help you tremendously. Clear, established goals.

Kevin Crowell · Answer

Hi Luca -

I wouldn't make it complicated. Be a straight shooter. Ask the realtor if they invest in real estate and work with investors? If so, how long have they been doing so? What is their method in working with investors? How do they find deals and can they help you find vendors? Do they have strategies to help you be successful? I would start there. If they can't answer those, they can't help you. Good luck in your search.

Jennifer Volek · Answer

Hi! Bigger pockets has a find an agent tab up top to find an investor friendly agent in your area. If you are in DFW texas, I can help, I am an investor and agent. I would suggest to you if you want to get started as an agent that wants to work with investors is to get some time in investing yourself before another investor will trust your opinions as an agent. I can also help with licensing info if your in TX.

Joe Homs · Answer

@Luca Perinuzzi I would ask the follwoing questions.

1.  Do you own your own home?  If not then how is this person able to help you with the largest purchase in your life?

2.  Do you own your own any investment properties?  See #1

3.  If they do then get into the weeds.  How many?  Are you focused on buy and holds or flips or what?

4.  What other real estate expertise do they have?  Property management, short sales, auction properties, no money down, etc.

Good Investing..

How to find a good investor-friendly realtor

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