How to find an agent

15 Replies

Hi, I'm trying to find an agent that understands investing. I have been through so many that don't know what they're talking about, feeding false information or just don't have any faith in me going through with it. How do you find someone that will understand your goals and actually help you. Where can you look to find theses people?

I would ask them how they go about searching for investment properties and if they own investment properties. Ask about cap rates they are seeing in the area you want to invest in. I really wouldn't use an agent that did not invest themselves. When I have tried looking for investment minded agents in other cities (I am only licensed in DFW), I have found some luck finding agents on Instagram. For example if I were looking in Dallas, I would search hashtags like dallasrealtor, dallasinvestor, dallasrentals, dallasrealestateinvestor, etc. Then I look at their profile to see if I can get a link to their website or more info to see if they are an investor and agent. Good luck!

I think having a conversation with your agent or prospective agent is the easiest and most important part of the deal. You need to make sure your agent knows as much or more than you about investing in order to make sure they are qualified to operate in this space. Ask as many questions as possible in order to make sure your agent can speak on the region, the status of investment properties, the returns they are seeing and many other things. By doing this, you will make sure your agent is qualified. I would also make an attempt to speak with some brokers in your area as well. 

@Randy Gutierrez Thank you for the shout out! 

Cole - good on you for looking for the right agent to work with. Most home buyers, including investors, will start working with the first agent they come in contact with. I did this for my first three deals and missed some really big red flags. Though my agents gave me good recommendations for purchase price and rental amounts, they were clueless when it came to rehab estimates, and totally underestimated the vacancy rate I would experience. They just didn't know, what they didn't know. Being an agent and an investor are two completely different skill sets.

Overall, it's important to find an agent that has first-hand experience as an investor. There really isn't any substitute.