I am looking for RE agents in another state, and due to my full time job I cannot travel any time soon. I don't want to wait and I want to start contacting RE agents by phone. Can anyone provide some guidance on questions that I need to ask when interviewing a RE agent on the phone and out-state? I am looking for a RE agent specialized on small multifamily rental properties.
@Victor Andrade Right off the bat, you want to see if they are investors themselves. If not, they will throw every single multifamily deal at you regardless of investment potential and just waste your time. A good RE agent for an investor like yourself understands your goals and works to meet them with applicable listings.
I agree with Marshall... I´d also ask about how many other buyers the agent is currently working with. If the agent´s roster of buyers is stacked, you most likely won´t get priority unless your purchase price is high.
Everyone wants to work with an experienced top producer... but those type of agents usually specialize in listing property.
If you need a hustler who is going to hunt down properties, find someone who can tell you that most of their day is going to be dedicated to you.
You can go as far as asking to speak to the sales manager of an office. Interview the manager and ask who they recommend. Email them an approval letter or proof of funds so they know you´re serious.
Best of luck
Excellent - thank you for the advise. I already set a couple appointments with some RE agents. Appreciate the time to reply!
From the responses I am assuming you are looking for an agent to help you buy a property? If that is the case then finding one that will send you any deal is great. As posted in other topic on the forum about 90% of agents only do 10% of the deals, so just getting 1 to work with you will be great. As an agent I'll give you my routine, I'm not saying it is correct way or the best way:
1. I'll put you on the MLS auto campaign, that is the most work i'll do.
2. If you happen to like one, then I'll ask for your proof of funds and preapproval letter, before I do anything else
3. Since you're out of town and cant drive by the property then I'll ask if you want to make an offer "subject-to interior inspection" if you decline then thats where this transaction ends and I wait until you find another one you like. If you accept then I'll write an offer and send to you for signatures.
4. IF the offer gets accepted THEN i'll go out to the property, until then I have not left my office chair.
If I happen to find a deal myself that I do not want to buy I'll go to buyers who are local here and can make decisions fast, and can close fast. Since you are out of town you wont be top of my list. If they dont want it then i'll send a eblast to my buyers list, which you will be a part of. And if I still dont get any hits then on the MLS it goes. All of this is done with the seller's permission of course, full disclosure to the seller I represent.
Not sure if that helps, probably doesn't.