Two members of my newly formed REIA are looking to buy their first home. What should they do to choose a good realtor?
Being an investor and realtor myself I have an opinion. I would pick a realtor who owns rental properties and someone who it's too new in the business or too old.
If a realtor owns rental properties themselves, they automatically have experience your buyer is going to want in a realtor. They also are more familiar with rental code, compliance and management. Most realtors who are landlords will also be able to share their handyman and other contractors who will save your buyer time and headaches.
By too old or too new I mean this. Choose a new agent with caution. Now often times new agents are hungry and will do a great job searching for a good property, but be sure they know your criteria and be prepared to help correct their searching to allow them to better serve you. By too old, I mean a busy agent who is no longer hungry. They might just set you up on automatic emails and wait. You want the middle ground agent who has experience but is hungry to do more deals. Investors are some of my favorite clients as they bring repeat business and often can articulate EXACTLY WHAT THEY WANT! Prepare what you are looking for very specifically, give it to a couple realtors and see what you get. Make sure you tell the agents you are talking to multiple agents up front!
Check out this video I made, "Is this a good deal?" I got this question so much I made this to answer that question.