New Agent in Buffalo Looking to Connect w/ Investors – Any Advice?

Question

Hey everyone,

I’m a new real estate agent based in Buffalo, NY, working with HUNT Real Estate. I’ve been diving into the investor side of things lately (BRRRR, flips, buy-and-hold, etc.) and I’m really interested in working with local investors and learning how to bring value as an agent.

Right now I’m focused on building connections, learning what investors actually need from an agent, and figuring out how I can help find deals, especially off-market ones.

If you're an investor (or even an agent working with investors), I’d love any tips or advice:

• What makes an agent stand out to you?
• Anything you wish more agents understood?
• Any good ways to bring value if I’m just getting started?

What makes an agent stand out to you?

Anything you wish more agents understood?

Any good ways to bring value if I’m just getting started?

Also open to connecting with anyone local to Buffalo or WNY — always down to chat and learn.

Appreciate any thoughts!

Timothy Smith · Answer

Hi @Brandon Le and welcome to the Buffalo corner of BP. You are asking a lot of the right questions, and I have some very unglamorous answers for you. Take them or leave them, but since I have perspectives from the vantage point of client, investor, and agent, this is what I can say:

Find yourself a mentor within Hunt that you can shadow. Who is doing what you want to do? How can you add value to them, so that you can learn??

Expand your network. Attend BP meetups. Be active on chats and forums by asking humble questions and not trying to promote yourself as something you are not (we have enough of that).

Get yourself into a lot of houses -- especially value-add properties. Get familiar with the old construction we have in Buffalo. Most out-of-area investors get in trouble because these houses are so old and they don't understand what it takes to renovate/maintain them. Even a lot of local folks step in it

Learn the basics of all trades (might be tough if you're not doing a project yourself or have the time to shadow them)

Tag along with another agent who is walking a client through a property. Listen to how the client (hopefully a seasoned investor) analyzes the property and the language they use. What is new to you? If you don't want to sound like a newbie by asking, take note and go research when you get back to your desk.

I spent nearly a decade as an investor before becoming an agent myself (Gurney Becker & Bourne), starting by renovating with my own hands. I learned how to tile, sweat copper, hang drywall, mount cabinets, etc etc. I suck at it. Because I don't do it every day. But....I learned how it should be done correctly and how much it should cost. I then moved on to building a large contractor network, and ultimately, found a GC partner who (to quote Jerry Maguire: "completes me". If you really want to be able to give solid guidance to your clients, get dirty yourself and learn by experience. It doesn't work for everyone -- and since you mentioned being a student, this could be a challenge -- but that's up to you to figure out. Partner on a deal with someone and put in the sweat equity. Your payment will be experience and education.

As an investor client, my biggest frustration with agents is that a very small percentage of them actually understand investor metrics, and even less know what is takes to renovate a property. The ones that bring the most value (to my purpose, at least) often have portfolios themselves and are doing what I am doing, but perhaps a slightly different approach or strategy. I resisted getting an RE license for years, but finally got to a point where it made more sense for me to have a license. What I didn't originally expect was how much I LOVE helping clients navigate this path. Probably the former teacher in me coming out in a new format, but enough about me.

Hopefully this wasn't too much and I don't sound too incoherent! Feel free to shoot me a note if you want to talk offline.

Brandon Le · Answer

Thank you, Caleb! I will definitely look into the advice you've given!

Caleb Brown · Answer

I think the 2 most important things you can bring to the table for clients is....

1) Deals. If you can find deals on/off market you will find and keep investors. That's the hardest part in this niche, during COVID there was plenty but the last few years it has been slim. To find deals you can check the MLS everyday(multiple times), connect with wholesalers and do off market reach outs on your own(cold calling, texting, etc). From there make sure you understand running comps, researching rents, guestimating rehabs and knowing the areas. You don't want to send out "deals" when they actually stink because you didn't run the numbers or know comps.

2) The other valuable piece investors will need/ask for is connections. This can be lenders, GC's, PM's, etc. Most investors don't have their team set up or will always need another contact to add. Having these will make your life easier and investors will highly appreciate it. You can find these by networking. Googling is not enough. You need to meet and network with these people to find the right ones.

There's others but I would focus on these 2 things first.