Become THE Investor-Friendly Agent in Your Market
Connecting with an investor means connecting with someone who wants their money to work for them. Investors are careful with who they work with though because they want to make sure they have someone who understands what they need. Newer investors may be less selective but they'll need an Agent who can guide them in the right direction.
If you’re interested in jumping into the world of investors, there are some things you need to know.
Read About Real Estate Investing
To help people who are investing in real estate, you need to know how to do it. Read as much as you can about it. You can find books in the BiggerPockets bookstore, in addition to the blog articles also found on this site. You may want to join some online groups as well, so you can follow what investors are thinking, feeling and saying.
KNOW the Market
You need to be on top of the market because what investors want does not last long at all. Investors want a real estate agent that will call them immediately upon learning about an opportunity they can’t miss.
Know what attracts homebuyers and tenants to specific areas (transportation, schools, parks, affordability, etc)
Network with Other Rockstars
To be able to help investors, it’s good to know investors, wholesalers, and Real Estate professionals in your market. Having a network of investors and wholesalers can get you exclusive access to off-market deals which your clients will love. Furthermore, a close network of RE professionals will bring added value to the table. A credible attorney, lender, contractor and inspector will insure that your client doesn't need to look any further to find their Core 4,5, or 6!
Attend networking events or better yet, start your own meet-up! There are plenty of local professionals (::cough:: lenders!) who would be glad to co-host/co-sponsor your event to help you get a great venue in a central location. Your meet-ups can be networking mixers, educational events, how-to seminars, etc. Get the best talent to come speak at your events and you'll eventually find yourself in the epicenter of your market's investor-network.
Here are other great ways to network with fellow rockstars:
- Local REIA – eventbrite, meetup.com
- BP Meetups
- Auctions
Master Comps
You need to be able to pull comps and analyze properties quickly, so master it. Do as many as you can so you learn as much as you can about it, even if you already know how to do them. The more you do them the faster you’ll be able to draft and submit offers when its time land your investor-client's deal!
Pick 1 area you see investor activity in. From that area, choose 3-5 properties currently for sale. Pull comps for those properties and determine which is the best deal…
Seek Accreditation
You should have accreditation by a recognized body. The best ones are Accredited Buyer’s Representative (ABR), Certified Buyer's Representative (CBR), Certified Resident Specialist (CRS), and Senior Real Estate Specialist (SRES).
Become a Realtor®
Investors are more likely to use Realtors® versus real estate agents. Members of this association are bound by their strict code of ethics, which ensures investors are protected.
Shadow an Investor-Friendly Realtor®
Understand what you need to do as an investor-friendly Realtor® by shadowing one. This person should be willing to let you come along on appointments, showing, and show how to find the best investment properties. This will allow you to get real-time experience, which will help you look much better in front of investors.
Become an Investor-Friendly Agent
You can become an investor-friendly agent, so get started with the suggestions above. Take your time and little by little you’ll become familiar with the way investors think and be able to help them succeed with their investments. They will be your biggest fans and referral sources.
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