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Updated about 4 years ago on . Most recent reply
Interviewing realtors to pick one
I am trying to find a suitable realtor and i am long distance investor in Greater Cleveland and haven't offer yet(i have just analysed deals) . I was looking for a realtor that invest and looking only(mainly) for properties for investors. I found one that tell me he has half of his properties from sheriff sales (auctions you don't see the properties) and half up to 48 hours from appearing in the mls. He told me it's hard to find below market value.
Do you think i need the realtor only to offer, take comps, go to showing and video and i should find deals for myself in the mls or through wholesalers and not wait for the realtor to bring me great deals of financially/personaly distressed and fixer-upper below market value?
The only thing i can know is that the realtor is focused in investor and made big amount of deals but can't knowvif he can find me good/great deals
What is your take about screening an agent?
Most Popular Reply
![Patricia Steiner's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1285001/1738007172-avatar-patricias90.jpg?twic=v1/output=image/crop=1792x1792@0x191/cover=128x128&v=2)
Why are you interviewing realtors? It's pretty old school...would you interview a carpenter? I really don't want him to tell me how good he is - I want him to show me. That means before and after photos of past projects all the way to a scope of work for what I'm proposing. I'm only interested in his skill level, his completed projects, his time management, pricing. If I ask him if he's good, what projects he's done, did he finish on time - he's gonna tell me he's a genius. Same with realtors and any other professionals you would interview.
And, would you hire a carpenter and then show up at the job site with hammer and nails - ready to work? No. The purpose of building bench strength is to find professionals who have more knowledge and skill in a particular area than you do. If you're the smartest guy in the room, you're in the wrong room...LEAVE.
The investor focused realtor will have vetted trades to complete the rehab/repairs as well as be skilled in markets, valuation, tenant selection, and more. They may not have the listings; they may be focused on investors who acquire properties rather than in a transaction.
You're building and managing a business. Find those people who can hit the ground running, who aren't trying to change your vision but fulfill it, who are not afraid to tell you no because they value your relationship over a transaction. Change your outlook and you'll change the outcome.