I was speaking with a friend who is a fellow Real Estate agent (young guy that is hungry to grow) and we were discussing my side of the industry (Real Estate Development and consulting). He asked me if he could connect me with a client he has who wants to get into real estate investing. Of course this immediately set off the thought of a way to expand my consulting business and wanted to know if other agents/brokers get the everyday man or woman coming to them looking to be taught one thing or another in regards to real estate?
Being a licensed agent myself and being involved in transactions, I know a buyer or seller wants a agent/broker to do everything under the sun and expects them to know every event and how to handle things before it even comes up. I was wondering if other agents feel the same that they are expected to teach their clients when you either are not well informed or don't feel it is part of the job description.
I think you are asking the wrong pool of agents. Haha I believe that a big part of my value proposition is my knowledge of the investment side of the industry. I assume that a lot of the agents on this site would agree.
I also know that there are plenty of realtors in my market that would say they are not responsible for explaining why a certain purchase or sale is a good investment or not. They are there to sell and some quite frankly do not care whether or not their clients lose money on the purchase in the long run.
When they are asked the question of is it a good investment I hear this sentence a lot: "real estate is the best investment you can make in your life". While that is true the quality of the investment depends on a variety of different moving parts that most agents do not understand.
I also think that some agents that get to a certain level do not want to bother with simple questions like average cap rate in the area, how to establish a good team, and where to find hard money lenders. There are plenty of agents that I know of that will only work with established investors. So, another portion of your business could be connecting new investors with agents that are willing to work hard and help push them in the right direction, with your assistance as well. The more I am talking it through, the more I like the idea. Good luck to you @Jonathan Orr !
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