Investor Friendly agents

[Matthew Balter]

What are things you look for when trying to determine if an agent partnership is right for you? What makes an agent look great to partner with and what are deal breakers that immediately turn you off from working with them? 

[Taylor Dasch]

Love this question. I may not be the best investor friendly agent(I definitely try my best) but here is what I do. 

1. The agent comes to the showing prepared with a quick CMA of properties that have sold (especially if on market) to determine the best offer price.

2. Ideally the REA is an investor as well and is familiar with market rents. If the property is a good contender for my client I will typically prepare a quick CMA for rentals to determine a good rent price, I also do a quick CMA using only updated properties to determine the ARV for my client.

3. They should be familiar with different financing strategies, back up plans (flip, STR, MTR, etc.) and inform you on all of them.

4. Availability to show you properties and dedicated to showing you properties and getting you a good deal. - My last agent had none of these other qualities but she drove from Copperas Cove to Belton (about 30 miles) to show me properties and also facetimed me at work to show the property I ended up buying- if I wasnt an REA I would use her again just for that reason. 

Deal Breakers for me : Not available to show properties - Slow Response / Not communicative - always late - 

Another big one in this market is time to write an offer. I write offers very slowly but I am on it right away and thats my top priority. I feel that sometimes an agent will procrastinate writing an offer or forget about it and that could cost you a deal in this market.  

Note that these are for the ideal agent it will be hard to find one of them today since they dont really make too much off the cheaper properties and they typically have to show a lot of them if you are a newer investor.  If you are familiar with your market, in all honesty I would go after a newer hungry agent. If not it is definitely worth the research to find a great REA!