Hey Investors, Im wondering what did your Realtor do that set him apart from all the others in your market that made you decide to work with them? I ask because I am a newer agent with two clients who invest with me as their Agent and I want to learn more ways to add value specifically when it comes to clients who are buying to invest.
My realtor House Hacked. He showed me how to house hack. I got my license, I show all of my clients how to house hack. Been going on 8 years of being a realtor, fun times! At the end of the day most traditional agents want to get a sale regardless of the deal. For me I want to make clients for life so I find properties that will set them up to win. I specialize in 2-4 unit MFR in New Jersey.
@Micah Brandel It's all about finding unique ways to differentiate yourself, and a lot of that depends on each individual client and their needs. Whenever you sense an opportunity to step in and make an aspect of their buying or selling process easier--or even their life, for that matter--a great agent finds ways to step in and do that. That could be helping them move, finding them contractors for necessary repairs, ordering food for them and their friends on moving day, etc.
The possibilites are only limited to your own imagination!
@Micah Brandel my realtor went well above and beyond (bringing her own stuff to stage my house, helping clean, and much more) when I was selling my house, and also showed how she invested herself and managed others properties. Now she gets any of my on market business and all the references of anyone I know looking to buy a house as an investment or to live in.
My sisters realtor impressed me by showing how he had experience house hacking himself, and helping various others successfully househack in the Denver market(where my sister is).
So I would say just show you know what you’re talking about and are willing to go the extra mile to help them succeed eventually your record will speak for itself! Good luck!
I don't use a Realtor to invest.....haven't found any that cared enough, well except for one. It is just too easy for a seasoned investor, especially with building experience, to find properties.
In order to attract newer investors, you'll need to be really knowlegable about all the aspects of investors and their goals....STRs, Flips, LTRs....Etc.
@Micah Brandel answering your phone and responding to email in a timely manner is what usually gets my attention. I can’t believe how bad some people are at that. If they don’t respond or react quick enough in this market, how do I know that they can secure what I want when time is of the essence?
If they are new, but show me they work hard, I will always give them a chance. The best agents make you feel like you are their only client. Very rare.
Six months ago she brought to me a deal (which closed as recent as 24 November 2021), which, although it was the most stressful, it was also the most profitable. Had the communication between us not been quick, someone else would have gotten the deal.
Absolutely.....A Realtor MUST return calls/texts/emails ASAP. This is huge.
Bonuses are going out of their way to find you properties that might be a fit and sending these to you every day. They may not be a perfect fit, but at least then you know they're trying....
To me, an investment-minded agent in Colorado, I think communication and competence are what buyers should look for in an agent.
Communication is two things to me: quick responses and clear articulation of concepts.
- Quick responses to questions. In our markets in Denver and Colorado Springs, you've got to move quickly, sometimes within hours, to get a deal done. If your agent isn't getting back to you quickly in the initial conversations, then they're likely not going to move quickly when it really matters.
- Clear articulation of concepts. An agent getting back to a buyer quickly but with answers that they don't understand isn't much help. Can your agent explain an escalation clause? Appraisal gap coverage? Cap rates and cash flow?
If I'm a buyer who is investing, I want an agent who knows that world in and out. Maybe you're a generalist with investing or maybe you have a niche. We specialize in helping house hackers and buyers wanting a vacation rental/Airbnb property in Colorado Springs and Denver. So if someone calls to chat about STRs, we can go on for days about numbers, Airbnb laws, STR strategies, etc. Do I know flips, though? No, I don't, so if someone calls asking about the BRRR method or flips, I'm probably not the agent for them. Buyers should be trying to suss out how experienced this agent is in the rental model I'm pursuing.
Those are my two cents. Interested to see others' takes.
My two chosen realtors send me clients (I’m a contractor). So I do the same for them.