Becoming Top Real Estate Investor Friendly Agent in Local Market
Hello,
David Greene talks about this constantly on his podcast that there is not enough real estate investor friendly agents from coast to coast ;
I have made a decision that i will specialize in working with investors only in my market;
I have joined local REI and have been very vocal to my sphere of influence
My question for other agents on this forum how did you become the go to person in your market (Investor friendly real estate agent)
In addition is there books or courses that i should look into that will help me become more recognized in my local market ?
I'm not a RE agent but am one who is talking to a few currently. How are books or courses going to make you more recognized?
You have to get out there. Practical experience, deal flow, etc. You should be in front of your investor. Understand the different types of investors, what they're looking for, and already know what direction to go when they hit you up.
He makes good points as many agents are guilty of saying "that will make a GREAT investment!!" … on EVERY house they see. So, for starters, don't be that agent. Reserve the right to say to people what is a bad investment. In my area I actually advise against A class SFH as their are so few people who earn enough to pay premium rents , defined locally as excess of $2000 per mo… and those who do earn that much will much rather own a house. So that's just an example. Of course, the goal is not negativity it is simply being able to articulate the contrast. This will allow you to point to what is actually a "good" investment, likely defined by numbers. Become a good numbers guy for sure.
Also. Walk as many properties as possible. Become so familiar with the common problems in certain areas. For example we have pockets in our region that are notoriously bad for foundation issues, often due to being near rivers and more of a flat plain type terrain that allows water to pool and further cause settling issues in our already too moldable clay like soil. I know this not from the internet, but from having walked literally 100’s of properties in that area and having met with many foundation repair companies, engineers, and home inspectors on these sites.
For you, maybe there’s an area near a forest full of termites… I’m making that up of course but I’m saying become an expert not just on the good, because that’s the salesy stuff that comes a dime a dozen. Be an expert on the bad so as to be honest and pragmatic and you stand out.
Lastly, the thing that will by far and large separate you the most is being an investor yourself. Caution: if you’re a deal finder for others don’t be surprised if they don’t want to hear about every acquisition you make... Having said that, you do want to own at least a few investments assuming you don’t already. If you don’t, I’d take time to partner with someone even if your cut is only 5% or 10% I’d do whatever it took as there’s nothing better than literally putting your money where your mouth is.
Hopefully this helps. 1/2 my business is investor related it’s a good niche. I choose to diversify because investors can also be treacherously not loyal. So be warned of that. Many do not care about exclusivity with you, and it’s why I’d urge you to gain your own investments as well, as with any job the goal eventually is freedom. Being an agent is a good step towards that but is not actually passive or an automatic license to invest. Good luck and feel free to reach out if I can help.
- Investor
- Austin, TX
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Be someone who has off market deals in their back pocket. Investor friendly agents are investors first, and they help their clients while having the same goals.
- Real Estate Broker
- Coppell, TX
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Read the books Millionaire Real Estate Investor, FLIP, and HOLD depending on what kind of investor you're going after. Maybe one about STR on BP if that is in your market and your investors have interest.
Teach a class about investments....
Set up searches that might interest your clients and then send out those properties....maybe searches they can't do on the public facing sites....like $/sqft....what's your average, where do prices start at attractive $/sqft, etc. Long time on market, perhaps 180+. Foreclosures.
Every investor likes deals....so if you find one, send it to them.
Start investing.....no better way to learn the ropes and speak with authority than from someone who has been there and done that. Always so weird to me there are so many agents who don't own their own place, or sell investment properties, but don't invest themselves. I understand there are circumstances, but way way too many people with circumstances. It's pretty rare I find agents who are good at recommending investments and know the lingo if they are not themselves investors.
Hey @Dennis Rogov - I'm in the same boat as you, I'm an investor & realtor!
What's helped me most is what you're already doing, putting yourself out there. It takes time to build a name and reputation for yourself as an investor friendly agent because there are a lot of agents out there that have no idea what matters most to investors.
It definitely helps being an investor yourself, but that shouldn't be a deal breaker. If I'm in your shoes, I would attend at least 1 RE event a month or two, just to brush shoulders with lenders, other agents, and investors that frequent these events.
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Broker New York (#10401359681)
- 929-349-8042
- http://www.ClosedByMo.com
- [email protected]
I am in a similar position and also working towards that same strategy in my local market. There is such an appetite out there for real estate investing but very little support for it.
The CCIM designation is something I've been looking into to provide a little separation from peers in addition to any free content I can gobble up.
Everyone here hit a lot of great points. Only thing I could possibly add here is there is a large market for out of state investors. Make some good contractor connections, and property management connections.
Everything eveyone here has said so far is very good advice.
Another thing that has helped me attrack investors is to actually get out there and teach people how to invest. Teach them about the 4 ways that real estate makes you money (loan paydown, tax benefits, appreciation, cash flow) and teach them how to analyse properties to see if it's a good deal for them or not. Make a calculator on excel and share it with your clients! You don't have to just find already existing investors. You can make new ones.
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Real Estate Agent TX (#745809)
- Royal Equity Property Management
Step 1) Buy investment properties. If you dont own them yourself, you wont have credibility to sell them to others.
Step 2) Start a real estate Meetup
Step 3) Grow your instagram
Step 4) Join a local Realtor Association committee, preferably the Public Policy Committee. This will gove you thr credibility that you are fighting for landlord rights.
Step 5) network, network, network.
Im a top 1% agent nation wide and I work promarily with investors.
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Real Estate Agent Pennsylvania (#SBR005765 ), West Virginia (#WVA230040225), District of Columbia (#BR200201381), Maryland (#648402), Virginia (#0225219736), and Delaware (#RA-0031082)
- (301) 893-4635
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- Podcast Guest on Show #192
Quote from @Dennis Rogov:David Greene published 3 books on how to be the best agent in your market.In addition is there books or courses that i should look into that will help me become more recognized in my local market ?
1)SOLD: Every Real Estate Agent’s Guide to Building a Profitable Business
2)SKILL: A Top-Producing Agent’s Guide to Earning Unlimited Income (Top-Producing Real Estate Agent Book 2)
3)SCALE: A Successful Agent’s Guide to Leveling Up a Real Estate Business (Top-Producing Real Estate Agent Book 3)
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CPA
- Basit Siddiqi CPA, PLLC
- 917-280-8544
- http://www.basitsiddiqi.com
- [email protected]