What Do You Look For In An Investment Real Estate Agent?

[Ben Lindquist]

I'm a real estate agent in Columbus, OH and looking to get into the investment side of things. I was just curious if anyone had any particularly positive (or negative) experiences with real estate agents and what characteristics make an investment agent appealing to work with. 

Any thoughts/advice/stories would be much appreciated.

[William Carroll]

"what characteristics make an investment agent appealing to work with?"

I am a part-time investor, with a fairly time-consuming day job, so this is just my perspective (take it with a grain of salt)..... I am NOT in the market for an agent at this time, but if I were, here's what I'd want: 

Operationally - fast response when I reach out. Even if you can't talk or help immediately, simple acknowledgment that you got a message is helpful, but don't leave me hanging for 5 hours. Figure out whether your client prefers email or phone and use what the client prefers unless the situation dictates otherwise. A quick and to-the-point demeanor (time is money), is critical. Good deals go quick, so as investor, keep in mind that I want to beat others to the table. Also, use Docusign or equivalent - I'm busy and don't have time to dilly dally around meeting up in person to sign every single form and disclaimer that pops up. 'Fast' benefits not just me, but you too... don't let time-waster clients slow you down. Qualify in, qualify out.

In terms of being a client on an ongoing basis, here's what I find valuable - You should reach out to me with properties you believe are actually good deals, not automated lists from your MLS account. Some people may find that stuff valuable, but I get plenty of those from other agents I've met over the years, and honestly don't have time to grind through it all, plus I can data dump and auto alert most of what I'm interested in from Realtor.com anyhow. There are a million properties out there and automated lists are just not all that helpful in distilling the signal from the noise.... save me time by telling me what you think I should be looking at.

And make sure properties you reach out to me about are properties that YOU would invest in if your money was at risk.  Don't tell me a $400,000k property that has a max upside rent potential of $2,200/mo. is a great deal. There are certainly market participants in today's environment that have more money than brains, but I'm not one of them. If chasing overpaying suckers is your business model then feel free to focus on that, but understand that I'm not interested. Again, qualify in, qualify out. 

Another thing that is valuable is when an agent knows a few specific areas and knows where the deals in that area are. Or understand the city's macro environment and help me target good investment areas I may not have considered previously. And having access to off market or pre-market deals is valuable.  Information is king... prove your value by telling me something I don't already know!!

I hope you found that lengthy opinion valuable. Good luck and happy hunting!!