Wooing out of state investors

[Julian Jackson]

I just had a competitive situation, that I lost.  I was trying to turn a customer into a client and another agent won, due to their strategy in helping out-of-state investors.  I lost the battle, but I wanted to turn that situation into a learning experience and ask my out-of-state bigger pockets investors what strategy they look for in an agent?  

[Jeremiah B.]

Hey Julian,

This is a good question, but the answer is pretty damn complicated.  I'll try and summarize my personal views.

Ideally, you:

• Invest yourself in like properties
• Do, or have worked as a property manager
• Have worked with out of state investors before.  Or, at the very lease, have worked with both investors, and out-of-state non-investors.

Ideally, you should:

• Be responsive!  Responsiveness is key!!!  The turnaround time on an email or text should average 20 minutes.  The turnaround time on a voicemail should be about the same.  You should answer when I call.  It should be rare that I don't hear back from you within an hour.
• You should be active.  Find deals for me to look at and consider.
• Come with rent information - always!  This is more important than housing comps!  When you present or discuss a deal, be able to speak to the rent amount with authority.
• Have a team behind you.  This one is personal preference, but I would never work with an agent without that agent being able to oversee, or seamlessly hand-off rehab work, and property management.  My personal preference is that the agent will be the only one I talk with until we are screening applicants - meaning that agent is quarterbacking a lot of the work.
• Be honest, and tell me when to pass.  I want an agent who walks a house and says "I recommend you pass - here's why..."  I will not always take your opinion, but I want to know that you can tell me to pass on a deal.
• Make paperwork easy.  Docusign, or like, is a must.  I will not fax you, or print/sign/scan things for you.
• Be willing to view a property that I find within 24 hours at the latest!  Within 3 hours is strongly preferable.  Longer than 24 hours as a norm is unacceptable.  And if I like it, I want an offer in within the next couple of hours.
• Be willing to write loads of offers.  I try and have around 25% of my offers accepted...

Some of this is personal preference, but most will be fairly standard.  

Happy Hunting!