What do you actually look for when selecting an agent?

Question

I'm curious to know what you actually look for when selecting the agent you're going to work with?

Karl Lueders · Answer

Matthew: To piggyback on J Scott's solid advice, a great Realtor will also be able to effectively communicate news you need to hear, whether it be as a buyer's or listing agent. The truth goes a long way to save you time and money; helping a client avoid making a bad deal is as valuable as finding a great one. Being a yes man doesn't get you very far.

J Scott · Answer

This is what I look for in a listing agent (well, what I looked for before my wife and got our licenses):

http://www.biggerpockets.com/renewsblog/2010/03/03/traits-of-a-great-real-estate-agent/

Joel Owens · Answer

Go for commercial.Residential distressed will be around for a couple more years but core areas are recovering faster.Commercial will have distress through at least 2018 from loans resetting that were originated during the boom times.

Commercial deals the checks are larger but the deals take longer to close and put together whether a buyer or a broker earning a commission.If you have reserves to live off of while learning the trade that would be best.

You could handle some commercial leases for monthly cash flow while getting experience to start doing commercial transactions.

Stephen Moore · Answer

Joel this has been something id been considering as well ,since i want to get into strictly commercial,what type of brokerageu recommend? Maybe keller williams?

Matthew Paetz · Answer

J Scott,

Thank you for the link. The blog has a lot of the things I was wanting to hear. It's amazing that most of the things mentioned are(or should be) common sense.

Matthew Paetz · Answer

I'd consider myself a newbie investor at this point. I've done a couple deals with single family homes in Indiana. I have since relocated to Los Angeles and I'm making a career move into full time real estate. All of my experience is with residential and I'm becoming very interested in commercial.

I am also finishing my CA RE licensing now.

Joel Owens · Answer

Are you a broker or just an investor or both??

Matthew Paetz · Answer

Joel,

Thank you for your response. I noticed that you are a commercial broker. I was just wondering what your thoughts are on where someone should focus their energy; commerical or residential?

Joel Owens · Answer

Well I am a broker so I generally don't look for anything! LOL

If I was looking the first most critical question is do they specialize in the TYPE of asset class that I want to sell or buy??

Would you want an office guy trying to sell retail?? An industrial guy selling multifamily?? A motel guy selling gas stations??

My point is you will get much further hiring a specialist versus and generalist (throw everything to the wall and see what sticks).

With a specialist there network for a seller will be highly valuable for targeted buyers who can perform.For a buyer you are wanting a broker who has access to the sellers and has vetted properties to make sure they are real numbers and not a waste of time.

I like to qualify my buyers as hard or harder than they qualify me.I don't want to bring a buyer to a seller that can not perform or I lose credibility.So expect when you approach a specialist to be able to demonstrate if they bring you a deal or spend time with you that you are serious and can perform.

There are a bunch of buyers,sellers,and brokers/agents that only know nothing or half of what they are doing and that wastes everyone's time in doing deals.

Matthew Paetz · Answer

Both, I understand that there might be different reasons you'd select either buyers or a listing agent.

What do you actually look for when selecting an agent?

What do you actually look for when selecting an agent?

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