What to ask a Realtor?

Question

Hello BP family,

When talking to(interviewing) real estate agents for an out of state investor like myself what are some good questions to ask them?

Thank you for your responses!

John Citro · Answer

Thank you to all who replied! I appreciate the insight as to what to ask when talking with a realtor!

James Wise · Answer

@John Citro

Most important thing is for you and the agent to be on the same page. It's a mutual relationship.

You want to the agent your goals and see what they can do for you that will help you accomplish them.

• You may find that they are willing and able to help you accomplish your goals.
• You may find that they are willing but unable to help you accomplish your goals.
• You may find that they are unwilling to help you accomplish your goals.

Joel Owens · Answer

Hi John,

I am in the commercial space. I ask clients to fill out a PFS statement as well as proof of funds.

I want to know overall financial picture and how and where funds are expected to come from to purchase their properties.

I am not a lender but many deals fall apart due to financing so I am very detailed with the numbers.

CAPABILITY TO CLOSE - QUICK DECISION MAKER when a deal is found.

That is what top brokers and agents want to know about a buyer.

Kimberly H. · Answer

Exactly what @Jonathan Wilks

said. Make sure they understand that you are an investor and therefore numbers driven.

Jonathan Wilks · Answer

First and foremost i would ask if they invest in real estate, and if they property manage or use a property manager. I would also ask what kind of investment they have done in the past or are currently doing.  If the realtor doesn't invest in real estate you better have time and strict criteria to work them through.  In addition show them a proof of funds, so they know you are not just a tire kicker and you want to find and close deals.