What do you look for in an investor friendly agent?

Question

I’m a Realtor although my goal is to invest myself and solely work with investors. My question is what do you look for in an investor friendly agent if you’re working with one at all? What do you determine valuable working with an agent vs going at it alone? Thank you for your time and responses

Andrea Weule · Answer

100% an good agent is worth it over going it alone. You can't do it all yourself.

Things that I look for in an Investor friendly agent: 1. Be willing to submit my offers, even if they're low. 2. Be open to understanding my strategies and process. 3. Represent me over worrying that other agents won't like the offers you make for me. 4. Be available (I get not 24/7) but follow up within 24 hours if possible. 5. Be hard working and open minded.

Really, just like anyone else...we want a partner that's willing to work and represent us and our deals.

Best of Success!

Steve Morris · Answer

custom platinum grillzHow old are you? That is so 1990s!!!

Marcus Auerbach · Answer

I have done a couple crash courses at my office for agents - how to invest. Shocking how few do. Young agents sometimes ask me how to work with investors, because they think it's an easy source of repeat business and I usually tell them to working with residential buyers is a lot easier and a lot more lucrative.

I should mention that I have been an investor long before I became an agent.

As a young agent you can work with a green investor, which is a desaster for both, because neither of you knows much. Or you try to work with experienced investors, but they already know experienced agents.

Ideally as an "investor friendly agent" you know more than your investor client, so you can coach them, but there is so much to learn about investing; from knowing how to rehab and who stuff costs to understanding rents, ARV and comps, financing, contractors, developing a good strategy, knowing where and what to buy etc etc Being willing to work your butt off and write many low ball offers sounds great, but will not get either of you ahead, in particular in this market.

My suggestion:

If you are a new agent, focus on working with residential (first time) buyers.

If you are a new investor, find an agent, who has been investing and can guide you!

JD Martin · Answer

I would combine @Steve Morris and @Andrea Weule into one and that would about cover it for me.

Anthony Dadlani · Answer

@Milan Dixon

@Andrea Weule provided some excellent advice. Investor agents need to also know what a good deal to their buyer looks like. Get to understand what makes a potentially profitable deal. Investors are looking for projects that are attractive to their wallets. Consumers are looking for homes that are attractive to live in.

Best of luck in all your endeavors.

Steve Morris · Answer

My question is what do you look for in an investor friendly agent if you're working with one at all?

1) One who has experience in brokering investment property

2) One that understands what makes a good deal or bad and the math

3) One that gets leads

4) One that can tell you what's your best odds of success in an offer.

Max Versteppen · Answer

An investor friendly agent is a licensed real estate professional who has experience with investment properties, has worked with investors, and has knowledge of the local market. Said agent will be an investor, as well. They will help find deals, analyze them, make offers, and sell properties as necessary.

Steve K. · Answer

@Milan Dixon Leading-man jawline, laser-intense gaze, custom platinum grillz (see profile pic).

Bonnie Rhodes · Answer

@Milan Dixon I am an agent that works with investors. I find that majority of my investors are looking for someone that will listen to exactly what they want and not blow their inbox up with deals that they aren't looking for. If you send your investors 4 options, they will choose none of them. Send them the properties they want and they will trust you.

Selling any sort of property is all relational. If you don't build some sort of foundational relationship with your investors, they will not be as likely to buy with you. I've found that it is important to check in with my investors every once in a while if I haven't communicated with them in a while, and also check in with them after I have sent them a property that they didn't purchase. I want to know exactly what they did not like about the property in order to tailor future emails to their preferences.

What do you look for in an investor friendly agent?

What do you look for in an investor friendly agent?

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