Investor and Agent Relationship

[Stefano Gasperini]

Good afternoon deal-makers!

I hope all of you are having a phenomenal day. I am starting out with REI, so I've spent most of my time reading and learning. I have been analyzing Delray Beach, FL for the last couple of weeks, and I feel I know enough to make educated guesses on deals on that market, all I need is an input of deals. I will go out there to knock some doors. However, I learned that I could also find an agent and ask him to create automatic alerts for what i am looking for in an specific area.

My question is about the relationship between an investor and an agent. I honestly don't know enough yet, so I will not probably make a deal in the next 2-3 months. Therefore, how can I provide value to them? I believe it takes little effort to do this, would they do it even if I'm not investing yet?  What is the "vibe" between new investors and agents? 

All the best, 

[Harrison Smith]

@Stefano Gasperini You ask a great question. As a Realtor that works with investors and is an investor, I can tell you that Realtors generally like adding an investor to their client list (I love working with investors). The reason being that you are someone motivated to buy properties that is usually educated on markets and deal analysis. For me, that makes life easy because I don't have to negotiate commission with you (since its paid by the seller), you won't need the hand holding of a first time buyer, and you are someone who will buy and may likely buy multiple times. I can easily set you up on drip campaigns and have MLS updates sent to you, my CRM and local MLS does that work for me (takes me 5 minutes to set up). Other than answering questions and taking you on showings, there is little work for me (most investors don't even want to go on showings, even better for me!).

The value I hope to receive in return is (1) consistent transaction flow since you will do multiple deals and (2) referrals to the other investors you know. Referrals are the greatest value you can provide an agent, so reward a good agent for their work and loyalty by giving them some introductions to your network, especially your investor friends.

Best of luck on your search to find an agent you can create a long term partnership with.