Real Estate Agents - Double Your Business
The majority of the Philadelphia real estate market is done on the retail level. There is stiff competition between agents to get listings with first time home buyers and people selling their home. Agents that carve themselves out a niche in the investor representation world don't have to fight as hard as the rest of the agents for the same retail listing. It is beneficial for the investor to align themselves with a good investor friendly agents as well as the agent to build a business working with investors. Agents that learn how to spot a good deal for a flipper have the ability to capture both the buy side of the initial acquisition and then the sell side of the renovated property. The trick for agents to get into the investor world is to really know how to spot a good deal. Investors bloodline and lively-hood depend on deal flow. An agent with the ability to find a good deal will eat for a lifetime.
In order to begin finding good deals as an agent, the easiest place to start is the MLS. There are deals on the MLS that I see every single day so when people tell you there is nothing out there, they are wrong. Choose a specific zip code or location you would like to find deals in. I would then strongly recommend implementing the 50 house rule. This is where you visit 50 properties in the area that are on market. You will want to see all different conditions and styles. Track those properties, take notes and then see what they sell for when they move. This is a fantastic way to become intimate with your farm territory. Once you are comfortable enough you will know. You will know because when a deal hits the market, it will jump out at you. You won't be stuck trying to figure out if it is a deal or not as you will know 100% that you have a fish on the line. Learn to do this and the investor buyers will follow.
Ian Walsh
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