Real Estate Agent Looking To Work With Investors... How?

Question

Toi H. · Answer

Sounds like a great book, I just ordered it. Thanks for the recommendation :)

Jerome Harrod II · Answer

There is a book I'd like to recommend:

"Real Estate Investors - Clients for Life by Fred Tichauer"

This is the Starter book I used, coupled with the CIAS certification I'm pursuing, to get really into the Investor-Agent game and I'd recommend this path to anyone else interested in being an Investor-Agent.

I have a few choice words about the crappy "investor to agent relationship" ideas currently being pushed around here and in the industry in general, but while I'm no 50 yr real estate veteran, I can say that these resources will give the new and experienced agent a better structure to achieve a healthy investor based business.

Just my 2 cents, good luck. =D

Toi H. · Answer

Congratulations on your new adventure!  I would recommend working with investors who know what they are doing in order prevent the burn out that Kim is talking about; in which case your experience will be great and potentially lucrative.

I have had a few interesting experiences working with agents both new and seasoned who've never worked with investors. I can say everyone must keep an open mind, have effective communication and respect each others knowledge.

• The best way to find investors to partner with is through the local investment club meetings.
• Investors are not only looking for a friendly agent to work with but an agent who is knowledgeable about the area they are looking to buy in, knowledgeable about the market, know what is trending, and know which areas of town are moving fast or slow
• In my opinion, being new is not a hindrance as long as you know what you are doing - be two or three steps ahead of your investor.  Avoid from saying you are new too often because investors will keep you at a distance - Be confident and work diligent like a pro. Phrases like, "I am a new agent to this area looking to build my network. If you know of any investors who are looking for a great representative I would love the referral."  This way you are not implying you are newly licensed but just new to the area.
• Don't work tirelessly for anyone because that will cause utter burn out. However, work smart for your client

That's my two cents. Please feel free to inbox me if there is anything I can do to assist you.  There are weekly networking meetings in Fontana, let me know if you are interested in going. We are meeting at the chamber of commerce this Thursday 9am-10am.

Best wishes!

Kim Knox · Answer

@Aarin Jacobs

Oh boy, focusing on working with investors can be a high risk endeavor, particularly to Agents new in the business.  You can work yourself into the ground for investors and never get paid a dime.  They want the best buy, they can be disloyal, and they are the first to ask you to cut your commission.  They are a client type I don't pursue at all, but have picked up from my listings.  I have great investors that have treated me very well over the years.  They know when they hear from me, I have something exciting.

If you do decide to work with investors, it is important to have a conversation about your relationship so you have a clear understanding of your risk of wasting your time.  You will definitely start to pick up on the warning signs after learning the hard way a few times. =)

You can be spending your time showing them a lot of low end properties, writing below market offers, irritating fellow Realtors and their Clients with insulting offers.  The investor will thank you for all of your time while you are going bankrupt.

Now, if you are considering financially partnering with your investors, that is different, because you will be vested and reaping the net return.

Being a new Agent is not a problem for investors.  Investors often target newer real estate agents to monopolize their time and access to homes and MLS.  New Agents often realize they are not making money if they are not closing the sale, but they often overlook the fact they are actually LOSING  money because they could have elected to work for a different Client.

Kyle Blake · Answer

To build on what Jeff said, be sure to be specific on your profiles listed on real estate sites such Zillow. My market is extremely hot right now and very few are investor friendly agents since there are bidding wars on nearly all properties, so most agents have no interest in hunting out investment properties, foreclosures, etc.

I did a few different searches for an investment friendly realtor and actually located mine on Zillow since he was one of the few that had investment, foreclosure, and short sale listed under specialties. So wherever you list your info, be sure to cover everything you specialize in.

Your local REIA clubs are a good place to network as well. My agent said he gets a good chunk of his customers from referrals of previous clients.

Aarin Jacobs · Answer

Great advice, Jeff! Thanks!

Shaun Weekes · Answer

@Aarin Jacobs

Hello Aarin,

I'm in Rancho Cucamonga so we're literally neighbors.  PM me.

Jeff Valentino · Answer

Hi there @Aarin Jacobs. Are you an investor or do you really understand investing? That's what's most important so you can help guide and serve them best. You will be sifting through lots of properties and data, so knowing what is or isn't a deal saves everyone lots of time. While being new isn't exactly a hinderance you should understand investing and the investor mindset as well as knowing your market cold.

BP is a great way to find them (keyword alerts) and so are local networking events.

Hope this helps get you started-good luck!

Real Estate Agent Looking To Work With Investors... How?

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