Investor friendly RE agents

4 Replies

I am preparing to be a real estate investor, buying my first property before I graduate college. My job now working at a restaurant is not going to cut it so I'm becoming a real estate agent so I have the potential to make more money and therefore save a lot more. I have a good handle on my finances now so I'm not worried about that aspect. I'm also becoming an agent so that I have a "job" when I graduate school and as a way to network.

That being said, I want to be an investor-friendly agent so I stand out from the crowd. I listen to podcasts, and I'm learning everything the basic real estate agent would need to learn.

Question:

What else can I learn about specifically that would be beneficial to possible client's that are real estate investors? What are y'all looking for in an agent?

Hi Chelsea,

Congrats on your decision to become a real estate investor. You won't regret it! It has plenty of ups and downs, but is worth the price of admission.

I think becoming an agent is smart - that's how I started. Becoming successful in this biz (or any biz for that matter) is a matter of creating value and solving problems. If you want to work with investors, what problems can you solve? How can you help them make more money?

Find them properties. That is the biggest problem most investors have. Here are some suggestions.

  • Join a real estate company that specializes in investing, or at least does a lot of it. You will find some great agents to learn from, and may even find a mentor.
  • Connect with all the wholesalers in town
  • Go to the auctions. Talk to the investors, see what they're looking for. There may even be some guys that buy at auction and wholesale them out. See if you can work with them.
  • Get good at comping properties.
  • Get good at scouring your mls for properties.
  • Get together a vendor list of preferred vendors for your clients. Contractors, trades, staging, cleaning, landscaping, painters escrow, attorneys,etc. 
  • Use a service like Mailchimp and get all of your potential client investors on it. Send them deal alerts when you get them, and monthly spreadsheets of all available deals.

Your goal is to be the person that investors go to for anything related to real estate. Of course you should always let them know if you find them a deal, that you get the listing on the backside.

Hope this helps!

Good for you for making the jump. Just be ready to hustle, I am sure you have heard that 80% of the deals are done by 20% of the agents. It can be very hard to get started and break into that 20% but with drive and determination it can be done. 

To answer your question,  I would focus on learning the numbers and identifying a good deal. I think it is tough to be a RE investor friendly agent because investors are going to want to look at a lot of deals, make a lot of offers and might only buy one. You will also have to have the ability to tell your client when they shouldn't buy a deal which can be hard because thats how you get paid. This is how you build trust and credibility with investors and of you can show them you know the difference between a good deal and a bad deal they will bring you business.

Best of luck!

-BA 

The biggest hole in the on-market real estate business is the lack of truly investor-friendly realtors. But just wanting to be one isn't enough. It takes experience and acumen and learning power to be able to help investors and understand how they do business. I built a nationwide team of investor-friendly agents just to suit that niche. New investors are paired perfectly with licensed agents who are also looking to invest because when they see a lot of properties together, they are both learning.