As an Investor, what do you want out of your Real Estate Agent

[Seth McGathey]

I have been investing in Real Estate for several years now but recently took the dive and became a Real Estate agent. I know the things I personally like to see in my former agents. But I am only one person. What do you other investors want to see/expect from your agents? What brings you back to the same agent for multiple deals and what makes you cut ties and use a new one? 

[Paul Novak]

Good question.  I view my real estate agent as a partner in our business not just a transactional person.  I have had the same agent for years and I have looked for the following things not necessarily in order of importance:

- Have a personality that fits in well with my wife and I.

- Is willing to tell you the truth even when it's not what you want to hear.

 - Strong background in real estate with connections that help us.  Our agent has provided recommendations on contractors, home inspectors, and lenders that have made the entire buying/rehab process easier for us.

 - Understanding of what to look for in a property.  Our agent doesn't just walk through properties with us but has called out things like foundation issues, walls bowing, etc... Things that as a young investor I wouldn't have known to look for myself.

 - Someone who seems to always be available.  I have never called my agent and not got into a property same day and we have looked easily at 100 properties over the years.  A sense of urgency and availability are key.  It helps that our agent owns his firm so on the rare change he isn't available he can send someone from his office to make sure we are taken care of.

- Someone who has experience investing in real estate himself is helpful.  They can see properties from an investors perspective.

- Our agent is someone who has taken the time to go over our goals and strategy to learn our buy box and where we are taking our business.  This shows he cares about our success.

- He is someone based on my comment above that has brought deals to us as opportunities when I knows of properties hitting the market.

- He has also increased our knowledge on what to look for with properties.  I would say we have become better investors because of him.  We throw in all sorts of perks when underwriting deals that set us apart from other buyers.  Those are things we would have never known of if it wasn't for him.

- Lastly he has reduced his fees on properties we have brought to him on his own accord.  Now that we have been investing for a while sometimes other investors come to us with opportunities.  When that has been the case he has lowed his commissions on the deal.

I have a lot of great things to say about our agent.  I would say the inverse is also true of a bad agent.