How can I find a good real estate agent as a new RE investor?

11 Replies

I attended Brandon Turner's webinar the other night and he said go find a real estate agent...right away.  What kind of RE agent am I, a newbie, looking for?  How do I know a good one?

Thanks.

Ask friends family co workers for recommendations. Ask lots of questions before signing a contract. Tell them what u are looking for. Do they know how to focus the search to value your time? Google search or ask pb questions to ask and interview a few agents. Good luck. I would talk to a bank and make sure you know your loan amount with in reason.

Thanks Chris.  I have no family/friends LOL.  Still learning :-)

That just what I have learners buying my own house. I am still trying to figure out what direction I want to go.

@John S Lewis - I’m a NJ New Jersey licensed Real Estate Agent nearby. Call me anytime.

You are looking for:
- Someone who understands and can support your real estate goals
- If you’re an investor, it’s good to have an agent who is an investor. There’s a very different mindset. I look for value properties that will create instant equity like Brandon Turner talks about. ‘Forced appreciation.’ There are many properties that are not value priced and will be worth the same or less in the future. We can fix ugly /smelly in an REO.
- Someone who can help you find good contractors.
- Someone who can help you dial in ARV so you have a proper max bid amount
- Someone who is a rockstar at marketing so your property sells or rents quickly after rehab

The average person who opens the door doesn’t know these things. Some are better than others at emotional hand holding if buying properties makes you or your partner anxious.

Hello! I recently purchased a home in Burlington (one I plan on renting after a year or so) and my agent Marina Shikman from Coldwell Banker was amazing! She was recommended by USAA to me and we loved her, she honestly went above and beyond for us plus she has amazing reviews online that you can look up :)!

Hi @John S Lewis , Some of the questions I ask during my initial calls with agents:

1. Do you work with real estate investors? (If yes, how many have you worked with?)

2. How long have you been an agent?

3. Do you consider yourself a buyers agent, a listers agent, or both?

4. What is your opinion of the current RE market? (make sure you have an opinion as well, it'll be great if you're aligned)

5. How many listings do you currently have? (you can get an idea of this by their online stats but they're not always up to date)

6. Do you invest yourself? (HUGE but not a deal breaker)

7. Are you familiar with MLS automated queries? (if yes, have them set one up using your criteria)

Hope some of this helps and best of luck!

@Erik Cabral Great questions Erik!! 

I am looking for properties (2plex-3plex or quad) to invest in the Vineland NJ area. I am currently looking for a real estate agent to start looking for properties so those questions will help me a lot. 

Best,

Oscar

@John S Lewis You definitely want to find a real estate agent. One that you vibe well with, and that you mesh with personality wise. It will help you build a good working relationship so that you can create goals that are similar. I would say one of the best ways to find a good one is reach out to all your friends, family and close relatives to see if they know anyone in the field that they have either used or they trust to get the job done. Going on craigslist or calling some local agents doesn't mean they aren't good, but there is no reputable source to say they are good at what they do or not. @Natalie Schanne had good ideas above as well.

Ask for recommendations on here and go to local REIA groups and ask around.

There’ll be a name that keeps coming up!

Loads of great advice here! 

Finding an agent that has experience working with the type's of property your interested in will be helpful. Before getting my own license worked with an agent that was great at estimating repair costs, found having someone like that to bounce ideas off of very helpful.

Asking people at the local REIA's is a great way.

There are a number of agents that come to the ones here. It's a great way to find a lot of agents who are experienced in investing. Just pick the one you mesh with.

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