What's your definition of an "investor friendly realtor"?
I met with a couple recently who was interested in investing on Oahu. They mentioned how their previous realtor told them that purchasing a single family home here (in a middle class neighborhood) would be a great investment. I was shocked. For the amount of money they had, a single family home in that neighborhood would be borderline terrible. I wish I could say this was the only experience I’ve had like this. Realtors buy and sell properties. Few are good at real estate investing.
What's your definition of an investor friendly realtor?
If someone is looking for a realtor who will write lots of offers for them, then any realtor will be fine. But if they are looking for a realtor who will help to grow their portfolio, then most realtors will not work out.
For me, the biggest criteria would be a realtor who personally invests in the market they cover. As in most things, it is difficult to lead from behind. Ideally, they will have been investing since before the recession. The last few years have made everyone look smart. Second, a realtor who is more concerned with growing their client’s portfolio than they are about selling properties. They’d prefer to have no sale than the wrong sale (i.e. one that makes poor financial sense). This would assume the realtor could decipher between a good and bad investment. Unfortunately in Hawaii, realtors who meet these two criteria are found in isle 10, next to the unicorns. ;) I would imagine this is true in most states.
My intention for this post is to help those starting out in investing. I hope the comments on this thread will produce a collection of helpful criteria in identifying a truly investor friendly realtor. One that will help a new investor grow their portfolio and not just sell them properties.
