How do I find a good, investor-friendly real estate agent?

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How do I find a good, investor-friendly real estate agent?

Raghav Haran
Kokomo, IN · Member since 2014 · 4 posts · 0 votes

I'm in the Ann Arbor, Michigan area and I'm looking for a real estate agent to work with me on my first deal. 

What sort of things should they be able to help me with? What separates a "good" real estate agent that understands multi-family investment properties from someone who's not so good? 

Alternatively, if anybody here is an agent based around/near Ann Arbor, please send me a message!

Thanks everybody! I really appreciate the help :) 

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Michelle B.
Investor · Lebanon, OH · Member since 2016 · 144 posts · 87 votes
9y
Raghav Haran Have you defined what you are looking for? If not, I would do that first. Determine what is most important to you and what assistance you will need throughout the process. Do you need help identifying a target area? Do you need help analyzing the deal? Do you need referrals for contractors, title companies, lenders, etc etc etc? Will you use this same agent to list properties (if your exit strategy is to resell)? Are you in a competitive market? Do you just need someone to open the door? Have you thought about just using the listing agents on properties that meet your criteria? Everyone's definition of a 'good' agent is different. Just need to outline your expectations so you can find a match. Good luck! Michelle
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  • Dany Namou
    Realtor · Detroit, MI · Member since 2016 · 67 posts · 20 votes
    9y

    Hey Raghav,  are you looking for commercial multi family or a residential home with 4 units or less? 

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  • Ramon HuertaPro Member
    Real Estate Agent · Kalamazoo, MI · Member since 2016 · 223 posts · 26 votes
    9y
    Raghav Haran I would suggest you join a local real estate investment group and start networking and I am sure you will get some Greta referrals. I wish you the best in your real estate journey.
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  • Keri Middaugh
    Rental Property Investor · Ypsilanti, MI · Member since 2016 · 230 posts · 86 votes
    9y

    Todd Chartier of Moving the Mitten is great with single family homes.  You could pop into the Ann Arbor Real Estate Investment Club on Tuesday evenings and start some conversations to meet other agents.

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  • Sastry Srini
    Canton, MI · Member since 2016 · 112 posts · 47 votes
    9y
    Thanks Kerry.. I live in AnnArbor and would like to participate in AA real estate investment club.. would you please share the location of the meeting and time.. or better if you can please point to schedule on a web site, that would be great I worked with Dorian Forge of CharlesReinhart for my deal of Sfr.. you can look him up on their website or contact them.. they service major portion of AnnArbor Thanks, Srini
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  • Michelle B.
    Investor · Lebanon, OH · Member since 2016 · 144 posts · 87 votes
    9y
    Raghav Haran Have you defined what you are looking for? If not, I would do that first. Determine what is most important to you and what assistance you will need throughout the process. Do you need help identifying a target area? Do you need help analyzing the deal? Do you need referrals for contractors, title companies, lenders, etc etc etc? Will you use this same agent to list properties (if your exit strategy is to resell)? Are you in a competitive market? Do you just need someone to open the door? Have you thought about just using the listing agents on properties that meet your criteria? Everyone's definition of a 'good' agent is different. Just need to outline your expectations so you can find a match. Good luck! Michelle
    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    @Ramon Huerta  I like that Idea when I got to the very few investor meetings I attend.. maybe one every 2 to 4 years... there is always a small cadre of agents.. I would suspect just by being there they are interested in helping investors.

    @Raghav Haran  how you find and retain a good agent is by proving your a for real buyer... I have quite a bit of experience at this... having owned a few brokerages and getting bombarded by wanna be investors when the latest Guru event comes through town.... I trained my agents to always vetter investors.. there is no one on the planet that will burn more of your time effort and money than a wanna be investor or new investor. 

    So to that end you need to prove you have money to buy.. Not just say so... you want to have POF ready to go.. and a real one not one from a HML or the kind you buy.. but a bank statement or a letter from your banker... without liquidity and ability its all talk...

    So when I go into a new market if I want to engage an agent in my pursuits those are the first things I do... I let them know if they want to work with me that I have the ability to close.

    Most of your good OREO agents etc.. already have their best client's list.. And go to investors your trying to break into the club..

    Or you can try a newer agent who may know know better and see where you get.

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  • Shaun C.
    Royal Oak, MI · Member since 2015 · 257 posts · 230 votes
    9y

    I was at the coffee shop on Thursday and just happen to overhear the people next to me talking about real estate.  I listened for a while and they knew what they were taking about. I slipped her my card and she called me the next day. 

    I would only recommend searching for agents that are investors themselves. 

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