Relationship with a Real Estate Agent

[Joey Arrazolo]

Hello BP Peeps,

Can someone help me understand what a relationship between an investor and an agent looks like? How do you have that conversation with them to start a relationship? If they agree to help you, what do they typically give you and, as an investor, what do you give them in return?

[Darius Hollis]

@Joey Arrazolo

As an investor it is essential to have a strong team in place. A fundamental member of that team is a great agent. Investor Friendly Agents in your local market should have in-depth knowledge on the market trends in your local market, that way they can steer you away from bad deals and towards good deals. 

When you engage an agent as investor, the first conversation you must have is regarding your goals. What ype of properties are you looking for? What returns do you expect? How do you plan to finance your ventures? All these questions should be discussed upfront to let the agent know what type of deals you expect them to bring to the table. In return for their work, an agent will typically expect to represent you in your transactions as a buyers agent or sellers agent and earn their commission from representing you and puting good properties in front of you.