How To Find a Good Realtor in a New Market?

9 Replies

I'm trying to find a new realtor who can quickly help me in a new market? I am wondering how other BP investors who invest out of state find realtors in a different market?

Probably this website right here... I would make a new thread requesting references for the market.

Winston be 100% transparent in what you want upfront. Then a broker/agent can say yes they will work with you or no way I want to do that.

Example someone call me up and says for commercial real estate they want to find a 50 unit vacant apartment building gut job at 4,000 a door.

I say " I don't want that business ". Lot's of red tape and time for me to make only 3,000 - 6,000 on 200k sales price.

Someone else calls me up and says they have 700k cash of their own to invest and wants to buy a 3 million apartment building. If they are realistic I want to take that business.

A broker/agent in the business awhile knows what they want and don't want. You can find newbies to do the low income crazy type stuff as they have no business.

What market are you looking to invest in? Are you interested in Michigan? 

Great advice Joel

Originally posted by @Winston Spence:

I'm trying to find a new realtor who can quickly help me in a new market? I am wondering how other BP investors who invest out of state find realtors in a different market?

 This site right here. Post what your interested in. Im sure whatever your interested in doing someone has a keyword alert set to that. & they will respond if they can assist.

For instance. If Cleveland Ohio is ever typed on this website I know about it in minutes.

You really need to be candid and ask them about their current business emphasis. I know my clients want me to be their go-to based on my experience and the network I've built. It keeps me in the loop of specific deals that only my buyers would show interest in. If an agent takes on too many things at once, they will lose the war.

this website would help you out. I would also contact some local rei clubs in the area, and ask for recommendations.

@Winston Spence  in addition to the other advice about knowing what you want and being transparent with them is establishing credibility with them. Brokers get paid when you close. So you need to be an investor who knows what he wants and has the ability to close a deal. Therefore, think though how you can position yourself as a closer prior to having conversations with brokers. 

I found my realtor through an investor that I looked up to. I told him what I was looking to do and he pointed me in the direction of a realtor who is also an investor. I think it's very important to work with other investors. They know what a good deal is and most of the time, they want to see the new guys in a good position to succeed. At least that has been my experience.

Glad to hear you are building the team!

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