I am a licensed real estate agent, but also am part of our family investment company. \u00a0This means I get to look at each deal through two sets of glasses and argue different points of deals with my husband and the rest of our team. \u00a0That makes for fun times, let me tell you.\u00a0 Anyway, I got my license specifically to help with the investment side of our family’s business and it has been an amazing asset.\u00a0 In my opinion (and it’s just that, my opinion), I believe that investors should actively pursue obtaining their license.\u00a0 If not, at the minimum they should find a great agent or two for their team.<\/p>\n
Why, you ask? \u00a0There are several reasons but I would like to focus on just two.\u00a0 You can add your own if you like.<\/p>\n
First of all, real estate agents have access to\u00a0the great and powerful MLS.<\/em><\/p>\n Your agent will have access to information such as comparable sales, tax records (yes you can do this research on your own,\u00a0but it’s faster as an agent) and the history of a property or neighborhood.\u00a0 This is great information to have not only when purchasing a property but when choosing your exit strategy.\u00a0 And of course the exit strategy should always be in the forefront of\u00a0the investors mind.\u00a0 Don’t wait until you’ve acquired a property to come up with one.\u00a0 That can be the kiss of death.<\/p>\n Speaking of your exit strategy, if you intend to flip your subject property instead of \u00a0holding on to it, you’ll want to get it listed on the open market.\u00a0 I know there are flat fee listing services out there and if it works for you, great.\u00a0 However, nothing beats having an agent in your corner that knows the area and your competition.\u00a0 I personally don’t put a whole lot of stock in open houses and sexy looking print ads.\u00a0 The savvy person knows it’s all about the internet these days.\u00a0 Most MLS’s distribute listing information into sites like Realtor.com where everyone seems to go these days.\u00a0 According to the National Association of Realtors, 80% of home sales happen through the MLS.\u00a0 Now, that’s not to say that as an investor you should put all your eggs in one basket.\u00a0 You’ve got to look at your market (every one is different) and your property to see what works.\u00a0 But those kinds of statistics shouldn’t be ignored either.<\/p>\n The second reason I recommend working with an agent is for Negotiation Strategy<\/em>.<\/p>\n I know I will get some argument from this and again, this is my opinion.\u00a0 Having an agent brings in a 3rd party element that takes some of the heat out of the fire.\u00a0 Although you may be calm, cool, and all business, you are more than likely dealing with an emotional buyer on the other end.\u00a0 Sometimes it’s good just to have that go between.\u00a0 If I allowed some of the responses to some of the offers through to our buyers in certain situations, WW III would have ensued.\u00a0 It’s important to have someone with tact on your team to represent you.\u00a0 It’s essential that you are honest enough with yourself to realize that may not be you….Fortunately for us, my husband recognizes that.\u00a0 But I digress.<\/p>\n Again, these are my opinions and what has worked for us.\u00a0 Having your license is a powerful tool in today’s market, but if you choose not to get\u00a0yours (it is quite painful to attain) then\u00a0partner with a good agent or two. \u00a0Now if you find agents that you are satisfied with, take good care of them.\u00a0 Don’t two-time them or\u00a0pit them against other agents, yet be real and honest.\u00a0 Take care of them and you’ll have loyal agents for the life of your business.<\/p>\n What are your thoughts?<\/p>\n1.) MLS Access<\/h2>\n
2.) Negotiation Strategy<\/h2>\n