What kind of re agent will attract other investors?

Question

Hello All. Newbie here.

I have posted about this topic numerous times and am finally looking to receive an answer. My goal is to focus on rehabbing, but I also am the agent on my team as well. I am looking to expand my network on the agent side. I have looked into taking the CIAS course and found it to be somewhat helpful, but I am wondering if with this certification it will attract other investors on the real estate agent side. If an investor sees an agent with the CIAS designation, does that have some value to them? I am curious just because the course is around $500 and I don't want to waste my money on the course if it won't help me generate leads.

Account Closed · Answer

Amber Butler: I got the license to help me learn the trade, but at heart I am an investor first, agent second. It helps with you "speak the language" of the investor and understand their wants and needs. For example, many realtors would squirm from having to make low-ball offers, thinking the seller or the listing agent would be insulted or their own reputation tarnished. I say if my client wants to make lowball let's do it! Make it a fun game of negotiation. Too many agents are ignorant about creative real estate, even question the legality of something as simple as a flip or lease options. This is where you can set yourself apart from the typical agents who only know one way to sell houses or who just want a commission. You don't have a deal yet? Work with an investor who is willing to coach you, and network with other investors in your community. Word of mouth is the best. You worry about being prepared. Just take action. Sometimes you learn more from deals that didn't close. Just get started. While you are preparing and thinking and getting ready, someone else may have grabbed the deal already. Besides, the business has really changed from 4-5 years ago. It's not so much what you've done but what you will do to work in today's market that matters more. Will you focus on a niche like rehabbing or will you try to do anything that comes your way - short sales, REO, selling to retail buyers (not investors), auction/bid sale, rent to own, etc.?

Account Closed · Answer

@Amber: I have the CIAS and also the CDPE designations. I find the training helpful if nothing to help you understand the different types of investors and their mindset and goals etc. I actually did get an investor lead who approached me and was happy to see that I have CIAS. He's a rehabber too and and I'm helping him make offers on REOs as well as scout for motivated owners. However it's true most investors would not know or care what designations you have. You need to position yourself as investor-friendly and different from the average agents. I definitely think CIAS is worth more than other typical designations that don't add any value to your professional growth. $500 is decent for the amount of information they give you plus monthly updates on the latest industry news and marketing templates. You can also write it off as a legitimate business expense, so why not? I personally have many times that on real estate trainings and courses. However, if you don't plan on using the materials, it will be wasted. Better put that $500 toward a good marketing campaign you already do on a regular basis.

Bill Gulley · Answer

I'm not big on most designations, especially those for Realtors, the best one is "Life Time Member Million Dollar Round Table" for a residential agent. They consistantly had over a million in business which mean experience, but some are still dumb as a rock that I know, but they sure are pretty....LOL

I agree with Charles, I'm more interested in working with people who are business minded who happen to be knowledgable in RE. I find I have less explaining to do, especially in commercial.

Agents who sell beds and baths fill the need of Harry Homeowner they may think of location in terms of a school district. Investors need an agent that sees the big picture from a business standpoint, not so much about unique features or rooms for their client.

We have a local agent, an old gal, who has been in the business since they incoporated the dirt here (lol) and has been very successful in branding herself in affluent circles. It's a status symbol almost to have her sign in your yard. Does she really work your deal....not really, she lists and others sell, if you call about your listing you'll speak to an assistant, really you won't see here after the listing until you get to closing. That is not an agent an investor needs if they need advice or assistance IMO.

At the other extreme are the newer agents that are willing to do whatever it takes and works hard on your deal until the job is done. They lack experience but make up for some of that with attitude and attention.

Probably what you need to look for is someone in the middle, someone who has the time to devote to you yet has been around long enough to know people and how to overcome problems. Seems here that is the kind of agent that specializes in working with investors and they get it.

Chris Clothier · Answer

HI Amber Butler. Having a designation would mean absolutely nothing to me as an investor. What will attract me to use you as an agent is either information or speed of action. How well versed are you on the best investment areas in your city? What advantages would I get by using you (can you get listing agents on the phone with one call)? How well versed are you on the cost of renovating a property to the highest investment level (so I don't have to see it before making an offer)? By making yourself a "value add" to an investor, you will be much more attractive and it should not cost you $500 for certification.

Most investors want someone who brings something to the table. What do you bring? When you know that answer, you will be able attract more investors to you.

All the best -

Most investors want someone who brings something to the table.  What do you bring?  When you know that answer, you will be able attract more investors to you.

All the best -

Account Closed · Answer

Agents often try to sell a home based on eye appeal.  The last thing a serious investor wants to do is fall in love with a property.  Falling in love with a property generally will lead to overpaying.  A kitchen and bath may help sell a place down the road, but says very little when it comes to making a good investment buying decision today.

I rarely find a turnkey property that makes sense (cents :)).  I usually target properties in nice areas that are the ugly houses on the block.  I refuse to fall in love with them and make an offer based on my analysis.  I usually factor in some negotiating room and consider what I'm willing to give or take.  An agent that is going to work with me needs to be willing to submit my offers as they are and in most cases I will be doing the negotiating.

Amber Butler · Answer

Lily Chen If you don't mind me asking, besides the CIAS designation how did you really position yourself as an investor friendly realtor? I am sure the fact that I am around investors seemingly all the time will help, but I still have not done my first rehab, so I am worried with my lack of agent experience and my lack of investor experience, it will be a problem. I do know a lot of the terms, resources, and am getting a lot better at telling problems and potential problems within a property, but I am still not where I should be. I want to be as prepared as I can for both avenues. I would love to be able to help new investors that have trouble finding the information and work with experienced investors to learn.

Danny Day · Answer

CCIM and CNE are good ones to have. Some of the others I could care less about (ePro, ABR, LEED, GREEN, etc).

Steve Babiak · Answer

As a licensed agent, you're going to need some CE credits as you go forward.  See if that training will get you some, and then get trained when you need the CE credits so that you can get 2 birds with one stone.

Joe Delia · Answer

I saw NAR pushing this also.  I think the designation is less about investors seeing it and liking it and more about the agent themselves knowing what investors are looking for.  It's amazing how dumb most agents are.  Some designations that matter are some of the commercial designations.  They are not easy to get, expensive, and bring a wealth of great information.

Amber Butler · Answer

Truly understandable. That is why I am happy that I cam focusing more on my rehab business than the real estate agent side. I too received my license because starting out I have had to deal with too many real estate agents that don't understand what I am trying to do, and certainly don't understand that I am not just pulling numbers out of my butt when it comes to offers I am making on properties. My gutt feeling told me that getting that cert wouldn't really matter in my opinion, but I wanted to get some other investors opinions. 
          Charles Perkins You mentioned that kitchens and baths are not everything. I am wondering in what sense? Are you referring to let's say, running regressions and understanding what will really allow you to sell the house at a higher price? For example, more square feet or an extra bedroom?

What kind of re agent will attract other investors?

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