When Should You Contact a Real Estate Agent?

Question

In my research I have found that it is best to build a relationship and use a RE agent on your first property. Yet, it isn't clear to me as to when is the best time to start building the relationship [when you aren't exactly ready to buy] without wasting the RE agents time? (1 year out, 6 months out, 3 months out ... etc)

Thanks in advance for any and all responces.

:Nef:

Thanks in advance for any and all responces.

:Nef:

Sean Sloop · Answer

Hey Nef,

As others have mentioned, certainly when you are ready to start taking action is the best time. However, I think if you have some questions about the market or want to introduce yourself to the agent you plan to work with, doesn't hurt to do that either.

Nef Ojeda · Answer

@Marcus Auerbach: These are very good tips and simple. I will use them.

@Steve Morris: I will definitely narrow down my end goal to a specific type of property and have hard cash and/or financing plans squared away before first contact.

@Eudith Vacio: I do have a good idea of the property and area in mind. As of today, I am missing the hard cash and financing. But, working on it. I think it would be beneficial to have a chat early on (even so far out) to help better prepare me for variables I may not even considered. But, this will require an Agent who is willing to be ok with just having a conversation knowing my timeline - my goal is to respect the agents time as best I can yet, obtain valuable information that will better prepare me for when the time comes.

@Tony Angelos: Exactly the conversation I want to have. From all the reading I am doing it all comes down to understanding as much of the process as you can. Hence, me utilizing this forum and being a proactive new member.

@Steve Rozenberg: This method will really be helpful filtering out agents that may not be a good fit for me. Great point there.

I appreciate every response. Thanks for your time and advice. I will continue my journey educating myself and making small moves that ultimately support my end goal.

Nef Ojeda · Answer

@Sean Sloop: Makes sense to me. And, it never hurts to ask!

Steve Rozenberg · Answer

I would say that after you decide on your goals and have a clearly defined strategy to achieve them. And you now know what type of properties you need to help you get there with clear criteria, then you contact investor focused agents and clearly explain what types of deals you need to have for your goals.

Be as clear and concise with what you are looking for so that they can help you achieve that goal. If you do not know what you want, how can you expect them to get you to your end goal

Tony Angelos · Answer

@Nef Ojeda I don't think there is a bad time to connect with an agent. I've had many conversations with new investors and one of the values a good agent brings is asking probing questions and good fact finding questions to help you, as a new investor, discover what it is you are actually looking for.

Most conversations I have start out like this, " I want to get into REI." "Great, tell me about that, what do you want to do?" "well, I haven't really decided, maybe flip, maybe wholesale, maybe be a buy and hold investor."

Then it's my job to push deeper and help you figure out which direction you want to proceed down.

Eudith Vacio · Answer

@Nef Ojeda - you should try networking with real estate agents once you have an idea of what you are looking for. Most real estate agents have their own niche neighborhoods. Agents want to know that you are reading and willing to make a move and have a solid understanding of what you are looking for and why.

Hope this helps!

Steve Morris · Answer

"it isn't clear to me as to when is the best time to start building the relationship"

When:

1) You have funding to execute AND

2) You know what you want with detail

Otherwise a broker will throw you stuff and after a month lose interest.

Marcus Auerbach · Answer

@Nef Ojeda - it's the first thing you do. And take your time to find a good agent, there are many, but not many great ones.

An agent can set you up with an MLS portal, no need to be active at that point, you can be on the sideline for a year and just watch the mls.

A great agent will also know the best local lenders.

Once you are ready to see properties, tell your agent, pretty simple.

Nef Ojeda · Answer

Much appreciate the clarity @Aaron K. & @Antonio Cucciniello. These responses are super helpful.

Antonio Cucciniello · Answer

@Nef Ojeda There's a specific point.  You first must be clear as to what your goal is, once you are clear on that, pick an investing strategy. Once you have that, pick a location. Once you have a location, call a lender.  Get a pre-approval letter. Then call an agent

When Should You Contact a Real Estate Agent?

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