What Do Investors Expect of a Real Estate Agent

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What Do Investors Expect of a Real Estate Agent

Gianna Cariffe
Middletown, NJ · Member since 2012 · 7 posts · 1 vote

What does someone who invests in real estate expect from a real estate agent in order for them to want to work with that agent and have them on their side? I am a licensed real estate agent and i would love to work with investors. How can i make this a part of my business and become the go-to agent for this type of work. what type Knowledge, skills, etc..? or even be able to analyze a deal for a potential investor. i really want to be able to create a win-win situation.

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Steve Babiak
Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
14y

Some related reading for you, since you seem to not like research (an undesirable attribute in an agent, BTW):

http://www.biggerpockets.com/forums/21/topics/170-how-to-find-a-good-realtor-

http://www.biggerpockets.com/forums/21/topics/74296-what-defines-a-good-re-agent

http://www.biggerpockets.com/forums/21/topics/69232-what-do-you-actually-look-for-when-selecting-an-agent

http://www.biggerpockets.com/forums/311/topics/70483-how-to-find-a-good-re-agent

http://www.biggerpockets.com/forums/21/topics/69807-value-of-using-an-real-estate-agent-in-the-deal

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  • Dale Osborn
    Mobile Home Investor · Spanaway, WA · Member since 2008 · 1k+ posts · 578 votes
    14y

    There have been numerous posts on this topic. Do a search of the forums and you should come up with plenty without adding another thread on the same subject.

    0Reply
  • Gianna Cariffe
    OP
    Middletown, NJ · Member since 2012 · 7 posts · 1 vote
    14y

    I know I figured that, but instead of having it all over the place
    And searching through a thousand posts I wanted to keep it as one subject
    That reflects building myself or others as a good real agent to work with. Thank you for your post Dale. Can you tell me what key things you would classify as a good agent?

    0Reply
  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 17k+ posts · 17k+ votes
    14y
    Originally posted by Gianna Cariffe:
    I know I figured that, but instead of having it all over the place
    And searching through a thousand posts I wanted to keep it as one subject

    Gianna,

    That was exactly why Dale recommended looking through the older posts -- so that we could keep this topic contained to a few threads (that already exist) instead of creating more.

    This topic has been discussed at length, so there are some very good discussions in other threads -- I would recommend reading through those, and use those to make additional points/comments/questions.

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  • Steve Babiak
    Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    14y

    Some related reading for you, since you seem to not like research (an undesirable attribute in an agent, BTW):

    http://www.biggerpockets.com/forums/21/topics/170-how-to-find-a-good-realtor-

    http://www.biggerpockets.com/forums/21/topics/74296-what-defines-a-good-re-agent

    http://www.biggerpockets.com/forums/21/topics/69232-what-do-you-actually-look-for-when-selecting-an-agent

    http://www.biggerpockets.com/forums/311/topics/70483-how-to-find-a-good-re-agent

    http://www.biggerpockets.com/forums/21/topics/69807-value-of-using-an-real-estate-agent-in-the-deal

    3Reply
  • Gianna Cariffe
    OP
    Middletown, NJ · Member since 2012 · 7 posts · 1 vote
    14y

    Hahaha Steve I knew that one was coming!Don't get me wrong I actually love researching you would be supprised how much i research. I just haven't found what I what to know reading them maybe I am just asking the wrong question/s. but I appreciate all the input from you guys. I'll keep doing my research and start asking questions on the other threads.

    1Reply
  • Joshua D.Pro Member
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    14y

    Gianna Cariffe -
    Here are a few you may have missed on our BiggerPockets Blog:

    - Is Your Realtor a GREAT Real Estate Agent? - This likely answers your question fully, but I'll add a few more below for additional insight.

    - Traits of a Great Real Estate Agent
    - Becoming The Investors’ Realtor: The Keys to Agent Success
    - Earning Your Keep: What Makes a Good Real Estate Agent

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    3Reply
  • Steve Babiak
    Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    14y

    Joshua Dorkin - you have the foundation of a good sticky here ...

    0Reply
  • Joshua D.Pro Member
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    14y

    Great suggestion, Steve Babiak - Done!

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    0Reply
  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    14y

    The short answer.....an investor expects to make more money on the deal than the Realtor does!

    0Reply
  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    14y

    Make yourself valuable with "knowledge and experience".

    Take yourself to new levels everyday by constantly learning and being at the top of your field.Don't aspire to be AVERAGE. Truly love what you do or go to another field.

    DON'T just do it for the money.

    Know that some people will just want someone that is CHEAP to transact.Learn that it is more than okay to not go after or want that business.

    Pick a certain aspect or aspects of real estate and become a world class expert in them so that you are highly sought after.

    Do not take abuse from any buyer,seller,investor etc. A successful relationship is where both parties feed ideas off of each other and have mutual respect for each other to achieve and agreed upon common goal.

    If a potential client sees you as a necessary evil or worthless then let them do it themselves if you are not a valued and respected component to the transaction.

    Just like investors demand quality properties to buy a broker/agent should demand and screen for quality clients to work with.To make this demand however you have to make yourself valuable.

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    0Reply
  • Steve Babiak
    Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    14y

    I'll add something that came up in another thread: don't push those exclusive buyer agent agreements upon any investor; they are intended for the owner occupant types where you are taking the buyer through lots of houses. An investor is going to have multiple agents finding deals, so trying that exclusive stuff isn't going to fly too far (except with newbies maybe, like in the thread below):
    http://www.biggerpockets.com/forums/41/topics/76478-agent-steering-us-away-from-short-sales-foreclosures-etc

    Also, realize that an investor is going to be looking at junkers, and be prepared to get lowball offers on those that might have commissions that don't seem worth the time of working the deal.

    1Reply
  • Dale Osborn
    Mobile Home Investor · Spanaway, WA · Member since 2008 · 1k+ posts · 578 votes
    14y

    One attribute that really bugged me about certain agents is they ask for the Seller/Buyer to do all the legwork then they are no where to be found. Come closing time lo and behold there they are sticking their hand out for a commission they did not put much effort into earning. What a stumbling block in the middle! Seems like we have another one doing the same tactics. In addition now there is another thread on the same subject to sort through!

    0Reply
  • Gianna Cariffe
    OP
    Middletown, NJ · Member since 2012 · 7 posts · 1 vote
    14y

    Are you talking about me doing those same tactics Dale?

    0Reply
  • Gianna Cariffe
    OP
    Middletown, NJ · Member since 2012 · 7 posts · 1 vote
    14y

    I'm guessing you have had very horrible encounters with agents. No need to judge me off that because you dont know me. Don't lose hope Dale if needed you will find the right agent. You should just have a little more patience.

    0Reply
  • Joshua D.Pro Member
    BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
    14y

    Lets get back to the topic at hand, please.

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    0Reply
  • T Brown
    Pittsburgh, PA · Member since 2012 · 55 posts · 2 votes
    14y

    Steve Babiak -- since I am the newb who started the thread you mention above about exclusive buyer agent agreements, I can only say, "If you can't be a good example, then you'll just have to serve as a horrible warning." ;-)

    0Reply
  • Mike H.
    Rental Property Investor · Manteno, IL · Member since 2009 · 2k+ posts · 2k+ votes
    14y

    First off, I don't think the poster should be told to go to previous posts. Otherwise, you'd get half the traffic on here telling people to go to previous posts and not post their question.

    Since its a subjective question, I think they should be allowed to start the thread anew so that people who missed the previous posts can chime in as well.

    That being said, I'm going give my response to what I want out of an agent.

    1) Someone that gets me showings as fast as possible.

    2) Someone that puts in any offer I want to put in - regardless
    of whether they believe the offer will be enough to be accepted or not.

    Thats really it. If they can do those two things for me, I'm tickled pink.

    2Reply
  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 17k+ posts · 17k+ votes
    14y
    Originally posted by Mike Hasemann:
    First off, I don't think the poster should be told to go to previous posts. Otherwise, you'd get half the traffic on here telling people to go to previous posts and not post their question.

    The problem is, after answering the same questions over and over, many of the frequent posters here don't have the energy to keep answering. So, that leaves us the option of ignoring the post or suggesting that the poster check old threads that have already covered the topic in detail.

    If we ignore the thread, the poster wonders why they are being ignored; if we refer them to other threads, at least they get their answer.

    I'm happy to answer the same questions several times -- especially when asked in different ways or if things have changed since it was previously asked -- but, there are certain questions that come up literally multiple times per week where the poster will get better information by going to an old thread.

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    1Reply
  • Michael Quarles
    Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
    14y

    Jscott.

    I will bet josh could come up with a flag button thingy that could be used as a suggestion to look at the archives. Almost a popular archive question bar. I don't know. Imho theres no room for ridicule of the poster because they asked a question. Which is always promoted. The most common questions are the most needed. And new members just need our help.

    And Josh's business is page views and selling stuff so I'm not certain he minds repetitive questions.

    Just my thoughts. And I too get a little miffed when I see a question which has been answered over and over then I think of Sunday Church

    0Reply
  • Albert Hasson
    Investor · Paradise Valley, AZ · Member since 2012 · 361 posts · 214 votes
    14y

    I agree with Mike. If the "frequent posters" out there don't want to reply then don't reply.
    Gianna, my agent searches the MLS, visits the property, sends me sales and rental comps then based on the results I will decide whether or not to see the property and make an offer. I have made countless offers without physically seeing the property because after 7 years of doing business I trust my realtor's judgement. That being said, once an offer is accepted I will go see the property during the inspection period.
    My offer to acceptance ration is probably 20 or 30 to 1 and my agent never whines or complains.

    0Reply
  • J ScottPro Member
    Moderator
    Investor · Sarasota, FL · Member since 2008 · 17k+ posts · 17k+ votes
    14y
    Originally posted by Michael Quarles:
    Jscott.

    ....

    Imho theres no room for ridicule of the poster because they asked a question. Which is always promoted.

    I hope that wasn't an insinuation that I ridiculed the OP...

    Not that I mind you insinuating that if it's true, but I hate to think it's true.

    If so, that certainly wasn't my intent...

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    0Reply
  • Michael Quarles
    Flipper/Rehabber · Bakersfield, CA · Member since 2008 · 3k+ posts · 3k+ votes
    14y

    nope. I didn't think you were at all. You're actually one of my favorite posters. I think that you're one of the most complete posters here. I just think that there's a very fine line between telling someone to go to this topic post over answering the question.

    Maybe I'm PMSing today. Hell I do that a lot lately. Night flashes and dryness are next.

    1Reply
  • Johny Sam
    Orange, CA · Member since 2012 · 8 posts · 0 votes
    14y

    I think a real estate investor want to have full discloser of information related to property as well any knowledge about the other party that may affect negotiations. He loved to have full confidentiality of information regarding opposing party’s secrets. A real estate agent should be obedient to th client as far as the instructions are legal. The rest you can read from the discussion that we already had in the other threads.

    0Reply
  • Account Closed
    Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
    14y

    Gianna,

    I'll be blunt. Based on my experience, investors are looking for good deals. Investors will work with whichever agents that bring them profitable deals. There is no secret. That's just the nature of the business.

    0Reply
  • Gianna Cariffe
    OP
    Middletown, NJ · Member since 2012 · 7 posts · 1 vote
    14y

    i want to go beyond the basic real estate agent stuff like the threads I see. is there some basics that every investor does that with a deal that I could focus on and have in place. That would make the investors job easier. I do not know if this has been asked. But I just want to know an investors opinion the best thing I could focus on in regards to my question.

    0Reply
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