Real Estate Agent

[Carlos Powell]

Hey BP,

I'm currently looking for  agents in Stockton and other Northern California cities that are familiar with working with investors. What is a great way to find investor friendly agents?

[Martin Scherer]

Hi Carlos,

Interview agents.  Most agents do not know how to work with an investor.  They are used to buyers who want a home based their on emotions and not numbers.  Most agents wilt get you as an investor.  Most will not work with wholesalers at all because they don't understand the process.

The first question I want answered in interviewing them is "do you own rental property"?  Are you personally an investor?  Do you own your own home? "No" to any of those should give you an idea about the agent---he doesn't understand creative financing, will likely be squeamish about presenting your offers and will drop you the first time you don't go ahead with a purchase.  I know that sounds unduly harsh but for most agents that is true.

Since most of my rental property has been purchased out of state I interview a lot of agents and those are my basic questions.  Length of time they have been an agent doesn't mean much to me.  A long time agent may know a little more but just like growing older doesn't necessarily make you smarter the same concept applies.  i know an agent that has been around for 8 years and has sold a total of 2 homes.

The suggestions above especially looking for agents with abandoned homes listed is not really likely in the area you chose as there really aren't any to speak of and those that are are likely REO's. That approach is best in large cities like the poster is located.

You would more likely find someone in your area by calling offices and asking to speak to an agent who owns rental property themselves.  Be direct it works.