{"id":149587,"date":"2023-04-06T15:18:29","date_gmt":"2023-04-06T21:18:29","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=149587"},"modified":"2023-08-11T13:19:34","modified_gmt":"2023-08-11T19:19:34","slug":"data-over-drama","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/data-over-drama","title":{"rendered":"Data Over Drama: Why Agent-Investor Relationships Create Amazing Results"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC3984579614\" width=\"100%\"><\/iframe>\r\n  \n\n\n\n\n<p><span data-preserver-spaces=\"true\">I recently asked an agent what they were doing for lead generation. Zillow was one of their sources. Here\u2019s how the conversation went with one prospect.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Agent: \u201cHello, this is Luke Skywalker (names have been changed to protect the innocent). How can I help you?\u201d<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Lead: [weird, heavy breathing] \u201cHi, this is Darth. I had a question about 123 Tattoine St.\u201d<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Agent: \u201cGreat, I know that property well! What would you like to know?\u201d<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Lead: \u201cIs that wallpaper in the dining room green or gray?\u201d<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Agent: [facepalm]<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Not all leads are created equal, but this is often par for the course when it comes to online real estate leads. In this article, I\u2019d like to put forth to you that not only are investors (and investor leads) easier to deal with, but they are also considerably more valuable. Plus, I\u2019ll give you some tips to finding more investors to work with.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Data Over Drama<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">When I first started my journey in real estate, I got my real estate license with the intent of quitting my awful job. That was it. I worked really hard for eight months and made that happen. At that point, I didn\u2019t know what BiggerPockets was (a clothing brand?), nor did I know what real estate investing was. That was about to change, but not right away.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">In my second year of selling real estate, a property manager friend of mine texted me a link to the latest BiggerPockets podcast. I listened to it on my way home from an evening showing and was floored. Where had this been all my life? And how could I start investing like\u2014today?<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Fast forward a few months, and I started investing with a partner. We were off to the races.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">There were two things that struck me as we started investing. First, it was a lot more fun on the investment side of things. I actually looked forward to finding and showing properties for my investor clients. Not only did I have some insight for them, but I also learned from their experience.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">The investors I worked with didn\u2019t care about pink drapes or old cabinets or the smell of pets. All they cared about were numbers. How much is it to <a href=\"https:\/\/www.biggerpockets.com\/blog\/how-to-estimate-rehab-costs\" target=\"_blank\" rel=\"noreferrer noopener\">fix up<\/a>? What is the <a href=\"https:\/\/www.biggerpockets.com\/blog\/estimate-arv\" target=\"_blank\" rel=\"noreferrer noopener\">after-repair value (ARV)<\/a>? What will it rent for?&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">This was far different than the retail buyers and sellers I had worked with. I\u2019d had clients pass up on great properties because of the smell, the paint colors, and the mismatched appliances. You name it!<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">This is what I refer to as \u201cdata over drama\u201d. Investors are a different breed that typically only care about one thing, the numbers. It\u2019s unemotional. If you\u2019re working on the retail side, it\u2019s almost 100% emotion, and not always in a good way.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Lifetime Value<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">I made a mistake the other day when I was speaking with an agent about our <a href=\"https:\/\/www.biggerpockets.com\/featured-agent\" target=\"_blank\" rel=\"noreferrer noopener\">Featured Agent program<\/a> when I referenced a statistic about retail buyers and sellers. The old stat had said that buyers and sellers trade real estate, on average, every seven years. The agent corrected me and said that the new data shows that now it is every 10 years. Some of the most recent findings even show that it\u2019s as much as 13 years! That\u2019s a long time to wait for a repeat sale.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Investors have an obsession with acquiring more and more properties. I have yet to meet a real estate investor who has just one property unless they are just getting started. Real estate investors frequently trade to put their portfolios in the best position for long-term wealth. I don\u2019t have clear statistics on this, but if I had to guess, I would say the average investor buys or sells every three years. That\u2019s a lot better than 10! And the numbers tend to get bigger with each transaction.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Just as a one-off example, if I\u2019m looking back at my investing over the last seven years, I averaged buying over five units per year based on our current portfolio. Wouldn\u2019t you like to work with someone like me if you were a real estate agent?<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">The Riches are in the Niches<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">You\u2019ve probably heard this before, right? Niche down, and don\u2019t be a clown. I made that last one up, but you can\u2019t deny that there is something to be said for specialization. Most agents, when they get started, don\u2019t give any thought to this, and it ends up hurting them. 87% of agents quit within their first year! There are many factors at play here, but when you jump in the deep end, and you don\u2019t know how to swim, you\u2019re in big trouble.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">There are about three million licensed agents in the U.S. The problem is that 90% of agents are competing for the same clients\u2014retail buyers and sellers! Would you rather compete with 2.7 million agents or a mere 300,000?<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Makes Sense. Now What?<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Let\u2019s assume I\u2019ve swayed your opinion to working with investors. How do I go about doing this? I\u2019m glad you asked.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">When I started investing, I asked myself the same question. The obvious answer was BiggerPockets. Let\u2019s dive into a few ways to leverage BiggerPockets for more, and sometimes bigger, commissions.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Free, Pro, Premium?<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">There are <a href=\"https:\/\/www.biggerpockets.com\/membership-types\" target=\"_blank\" rel=\"noreferrer noopener\">three levels of membership<\/a> on BiggerPockets. You should at least be a free member because, well, it\u2019s free! Pro and Premium offer a few additional benefits like unlimited use of the calculators, which in my mind, is totally worth it just for that. Premium even has a lead capture function that can help you get more organic leads on BiggerPockets.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Post, Post, Post<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Once you know which membership makes the most sense for you, it\u2019s time to get busy on the <a href=\"https:\/\/www.biggerpockets.com\/forums\" target=\"_blank\" rel=\"noreferrer noopener\">forums<\/a>. Now, this is not for everyone. But, for those who are willing to put in the time and effort, posting can lead to connecting with the right investors for your business. Let\u2019s go over a couple of quick tips:<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Keyword alerts<\/span><\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">In settings, go set up your keyword alerts. This will most likely be the city, suburbs, and area you serve. Put in all the names, zip codes, and any other topics you\u2019re interested in. When these are mentioned in the forums, you\u2019ll get an alert! Then you can add your two cents to the conversation.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Make your own posts<\/span><\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">What\u2019s even more powerful, in my mind, is to make your own posts on BiggerPockets. I recommend doing a weekly market update or something similar. When you are the original poster, a couple of things happen. First, you control the topic. Second, people view you as the expert in that market and will always be replying to you. Third, investors who have their keyword alerts set up will get notified when you post! And, over the long term, BiggerPockets is very searchable. I still get leads to this day from posts I made five years ago.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Meetups<\/span><\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">Real estate investor meetups are, quite frankly, awesome. You get to meet with like-minded people who have similar goals. However, not all meetups are created equally. Some are big. Some are small. Some are paid. Some are free. When I was looking for a local meetup, there actually wasn\u2019t anything close by. So what did I do? I started my own.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">If you\u2019re a Pro or Premium member, you can post meetups from the <a href=\"https:\/\/www.biggerpockets.com\/forums\/521\" target=\"_blank\" rel=\"noreferrer noopener\">meetups thread<\/a> on BiggerPockets. The benefit of hosting your own is that you\u2019re in control. You can make it formal or informal or require all participants to wear a Waldo hat to attend. It\u2019s up to you.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">When you are the founder of the group, guess what? People look up to you. Even if you don\u2019t have a ton of experience. You are viewed as the leader and connector. Even though my first group was small, I collaborated on several deals and met a lot of great people.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Become a Featured Agent<\/span><\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">If the last few paragraphs aren\u2019t for you, that\u2019s ok. There is a shortcut. It\u2019s called the Featured Agent program. Full disclosure, I am a rep for that program. So get in touch with me if you want to make more money!<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">When investors are ready to connect with an investor-friendly agent, they hop on BiggerPockets, click on <a href=\"https:\/\/www.biggerpockets.com\/agent\/match\" target=\"_blank\" rel=\"noreferrer noopener\">Find An Agent<\/a>, put in the location, and then are guided through some questions before being shown our Featured Agent page for that market. You can think of that page as a dating website. The investor is looking for the perfect match. Will you be their dream come true?<\/span><\/p>\n\n\n\n<div id=\"hero-block_630438aa24f66\" class=\"first:mt-0 hero-block py-4    has-background has-slate-200-background-color has-text-color has-theme-blue-light-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-theme-blue-color has-text-color has-large-font-size\" style=\"font-style:normal;font-weight:800\">Stand Out to Over 2M+ Real Estate Investors<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-800-color has-text-color\" style=\"font-size:16px\"><strong>Be a featured agent on Agent Finder, a resource that helps investors find the right agent, fast. Instantly match with buyers to fuel your pipeline with better leads.<\/strong><br \/><br \/>Complete the form in 30 seconds to connect with an Agent Success Manager to get started today. <\/p>\n\n\n\n<div id=button-custom-event-block_6412470efdb4b class='button-custom-event'>\n      <a\n    href=\"http:\/\/biggerpockets.com\/featured-agent\"\n        x-on:click=\"window.analytics.track('Blog Block | B2B Marketplace Featured Agent', {\n      referrer: 'https:\/\/www.biggerpockets.com\/blog\/data-over-drama',\n    });\"\n    class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Be Featured<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\" first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  shadow-xl rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/08\/FA-Blog-Block.png\" alt=\"Be a Featured Agent on Agent Finder\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Bottom Line<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">If you are an agent and an investor and like working with other investors, it is most likely in your best interest to work in this niche. You\u2019ll work less, make more, and have more control over your time. Sound too good to be true? Not at all. Welcome to freedom.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I recently asked an agent what they were doing for lead generation. Zillow was one of their sources. Here\u2019s how the conversation went with one prospect. Agent: \u201cHello, this is [&hellip;]<\/p>\n","protected":false},"author":110702,"featured_media":149594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4241,7119],"tags":[],"class_list":["post-149587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-business-management","category-biggerpockets-daily"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/149587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/110702"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=149587"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/149587\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/149594"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=149587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=149587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=149587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}