I am trying to purchase my first property in the Houston area. I have my financial go lined up and have narrowed down my areas where I would like to purchase a property.
A coworker of mine has several rental properties and recommended her Realtor. I spoke with him and set up for a search on Har.com. We went to look at properties. He works under a company that has both Realtor services and property management services. When showing me the properties he seemed very knowledgeable about things investors should consider and had suggestions about which properties would be a good purchase.
HOWEVER, he has terrible communication skills and I often will not get a response to a text message or email about a property until the next day after contacting him again. I expressed my issues before but today I emailed him and let him know that this wouldn't work after a property I asked to see since Thursday was changed from active to pending.
All that being said,how did you all go about finding a Realtor that is experienced with investors AND understands acting quickly. Honestly, most Realtors will do it willingly but experience is helpful.
Well, as I recall, I went home one day and heard by dad say he passed his agent's test and was going with a broker friend who'd been after him for some time, so I thought all that RE talk was finally over with, little did I know it just began. That's how I found my Realtor. Then my mom got her ticket, so I was between a rock and a hard spot until they worked it out. :)
For others, begin by looking at listings, who has the most, look at sales at brokerages, who are the top agents? Some go that route, but doesn't mean you'll get one to spend time with you.
Then look for references, folks you know, co-workers, just ask around, leading names will surface.
Interview the agent. You need to see how you communicate, things in common, are they honest, judge integrity, you may not need the most successful you may want more knowledge and experience with an agent that doesn't have to beat their head in to stay afloat, they may have retired from another profession so they may have time to take more interest in you.
You're looking for a personal business relationship, not a girl friend or drinking buddy, but someone who has ethical standards, knows the business is current understands investing aspects and that has time to devote attention to you. Look for them, IMO. :)
I look on zillow. I find my area and than look at all the reviews and what people say about the realtors. Than I set up an interviews and invtweview various ones until I find one I liked!
@Denise Mayo-Walley have you signed a Buyer Representation Agreement with this Realtor? Usually Realtors don't take buyers too serious if buyers are not willing to commit and sign the agreement. As a Realtor, one would be working and spending time, gas and tolls showing properties and shooting emails/texts and the customer is not willing to sign a representation agreement and become a CLIENT.
If you haven't signed a representation agreement with this Realtor, then you are only his costumer, not a client and he/she is probably not taking you very serious. Maybe he/she doesn't like communicating, I don't know. When you sit down with this Realtor (or any other), sign the IABS (Information About Brokerage Services), sign the Buyer Representation Agreement (give him/her 15, 30 or 60 days as a test), provide proof of funds and your complete information and that way the Realtor will know you are committed to buying a property and not wasting his/her time driving around to see houses.
Again, I only know one side of the story and I'm just pointing out one reason this Realtor might be acting the way he/she is. If you have signed the representation agreement then you ARE a client and if you are not happy with his/her job representing you, then you can cancel the agreement and move on to the next one.
Good luck and happy investing.
@Denise Mayo-Walley - I'd recommend looking for an agent through this site. The best way I've found to do so is by looking at old postings about the area you're interested in (Houston). Then just connect and/or PM anybody who seems knowledgeable and ask for a recommendation. Who knows, they may even be a Realtor and can help you directly.
I agree that quick responses to texts and emails are a big deal for an investor - if the agent can't do that then move on to the next one.
Every morning when I look in the mirror, I see my Realtor staring back at me. Couldn't imagine being able to find one that understands my needs any better than that fat red-headed guy.
I found my realtor here in bp. If you are looking to buy & hold make sure you find someone who has worked with investors that is the most important quality. And preferably someone who is a landlord themselves so they understand what you are looking for and had been thru the same process for themselves with tenants etc. Also someone who can do electronic signatures my first realtor was not experienced in this and every time I wanted to make an offer I had to print and fax paperwork now I just sit at the computer and in 5 mins I'm done and never have to print anything.
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