We work with a lot of investors in our brokerage, but the successful investors we work with know what they are looking for and we help facilitate their transactions. Any good investment agent is likely too busy to hand hold you through the entire process. There are really three main ways of finding deals, off-market through wholesalers, off-market through your own marketing, and working deals on MLS.
I can't speak to what "real-estate investor agents" at other brokerages do, but I can give you a little insight as to how we work.
Screening off-market wholesale deals: Wholesalers send you deals and present every deal like it is a sure winner. We can give you a second opinion on ARV and rehab costs so you can run the most accurate numbers possible.
Motivated Sellers: Many people get a motivated seller and don't know where to start. We'll help you out making sure you're off-market deal makes sense and make sure you buy it right.
MLS Houses: If there is a house on MLS that interests you, we'll show it and submit an offer. We negotiate MLS deals often, so I'd like to think we are a little better on the negotiating side than most agents. People talk bad about the MLS, but there are deals to be had. You just need to have someone that knows how to talk to listing agents and recognize opportunities.
Again, I'm not sure what other agents advertise for services, but these are things we do and what I would look for in an agent.
Can you define clearly what an investor friendly RE agent is...to you? Every time I see that I cringe.
Most newbie investors come into real estate offices and tell the agent they speak with "I will take anything that makes sense". Now if you were a person who only makes their income by making a sale how much time would you spend with that kind of criteria?
Does that mean you can write a check all cash for a resort home? a 100 story building or a granny bungalow? What makes sense to the agent may make no sense to you or anyone else.
A better question for the agent might be "Do you own rental property yourself"? If not the agent probably doesn't understand the value in rental real estate or how flipping works. They are probably not a good fit cause they won't understand your needs.
If you don't have two nickels to rub together or hope of any she likely won't take you seriously. You are viewed a long term time waster. They make their money on sales not someone hoping to find that million dollar property owned by a little old gentleman who only needs $50,000.
Your best bet is to call a few offices and ask "do you have any agents that work with investors"/ Than if they say yes I do ask the "do you own rental property yourself? if no repeat until you find some one who does own a property.
When you meet them have a plan mapped out if you cannot explain what you are looking for for yourself you cannot explain it to them. Are you looking for a flip? Are you a buy and hold investor? What are your goals for real estate. Can you explain what you are looking for and the price range?
How much income must the property generate to make you pull the trigger on a sale. Know these answers before you meet with them because if you can answer them and you find someone who understands your needs and works at it they are worth their weight in gold. i trusted my out of state agent enough to buy 5 properties from her site unseen. But then I work with numbers which most agents do not which is something you must get used to in your search for an agent.
Good luck and when you do find someone good be loyal and they will repay you by giving you first shot at deals you may not ever get the chance to do otherwise.
We work with a lot of investors in our brokerage, but the successful investors we work with know what they are looking for and we help facilitate their transactions. Any good investment agent is likely too busy to hand hold you through the entire process. There are really three main ways of finding deals, off-market through wholesalers, off-market through your own marketing, and working deals on MLS.
I can't speak to what "real-estate investor agents" at other brokerages do, but I can give you a little insight as to how we work.
Screening off-market wholesale deals: Wholesalers send you deals and present every deal like it is a sure winner. We can give you a second opinion on ARV and rehab costs so you can run the most accurate numbers possible.
Motivated Sellers: Many people get a motivated seller and don't know where to start. We'll help you out making sure you're off-market deal makes sense and make sure you buy it right.
MLS Houses: If there is a house on MLS that interests you, we'll show it and submit an offer. We negotiate MLS deals often, so I'd like to think we are a little better on the negotiating side than most agents. People talk bad about the MLS, but there are deals to be had. You just need to have someone that knows how to talk to listing agents and recognize opportunities.
Again, I'm not sure what other agents advertise for services, but these are things we do and what I would look for in an agent.
Thanks for your responses! My apologies I did not mean to offend anyone, I have investing in Real Estate for a couple of years now, and in my own experience it has been somewhat difficult to find agents who understand what I'm looking for and who are trustworthy!
No offense taken. New investors ask a lot of questions and that is good. The most important questions are those you need to clarify for yourself before you begin.
I'm currently looking for an investor friendly agent....@Martin Scherer
maybe I should say I"m looking for a damn good agent - listing agent for san antonio
I'm an investor but I am happy to just work with a great listing agent since I'm selling my rental property at retail, NOT to another investor with a tenant in place.
Of course, when I say "investor friendly" - it means the agent needs to communicate clearly and quickly, be on top of the sale process, EARN their 3% commission (or 2.5 %?)
So as far as a listing agent goes. I don't need an agent who is "investor friendly" per se.
I just need one that can sell my home at top dollar(good marketing, negotiating, etc) and do it at a reasonable timeline.
@Joe Kim, I have a specific agent from my team who works with investors on a very regular basis. If you'd like to speak with him, please feel free to DM me and I'll get you two in touch.
thanks everyone, I found my agent. just some good ole sweat equity of searching Zillow - looking at reviews and vetting agents who have great listings and good track record.
I think when selling a home, it's not as critical as buying in terms of "investor friendly". I just need a damn good agent who can sell my house at the best price.