Thoughts of Investor/Realtor, 3 yrs after
Hi BP
3 yrs ago, you encouraged me to be get my license, after 12 yrs of investing.
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WHY INVESTOR FRIENDLY REALTORS ARE HARD TO FIND???
I realized that just because you are an agent doesn't make you an investor.
REALTOR by definition is in SALES. Most efficient way to succeed is to find the path of least resistance, get the highest possible price and close the deal as smoothly as you can.
INVESTOR by definition is looking for VALUE. Most efficient way to succeed is to gather as much information, and purchase at lowest price. Closing the deal is optional, but they will BUY IF they find the "perfect" deal. There is NO TIME FRAME. There is NO REAL LOYALTY either. They go where the deals go!
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There are just different kinds of agents. just like there are different kinds of doctors. If you need surgery you don't go to your GP, you go to a surgeon.
Investor friendly agent like me are around, BUT I find we tend not to advertise we are..... here is why, in my opinion....
Like most investor/realtors, I got my license mostly to facilitate my own deal. and help other investors along the way. My time is split between my own properties and my clients.
Investor friendly agent I found go by WORD OF MOUTH.
I find eventually investor friendly agents can only handle a few pocket investors, because investors are a repeat business and a relationship business. After my 2nd year, I started to SCREEN my investor clients.
I like to joke that I have many "boyfriends", and its nice that they all are interested in different thing so no jealousy. As I do a daily scrub on the MLS. I can shoot multis to A, REOs to B, and commercial to C.
Most importantly there is not conflict of interest in my part bc I also invest completely differently from my clients. This reduces my stress level too.
Also I tend to go back to the investor that know what they are doing and are ready to close.
I find I am most efficient if I just facilitate their transactions. I setup a broad search, because there is NO MAGIC INVESTMENT PROPERTY BUTTON on the MLS, and they scrub through it, They know their #s best.
I just help them with the resources I have available that they don't have. And sometime they have me make the offer or list in return.
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I think the time realtors need to invest on investors, and the knowledge realtors need to cater to one is the barrier to entry. The Lack of Return and Lack of Support from Brokerage dissuade most.
On the other side of the coin, if you TREAT a good investor friendly realtor RIGHT, you will find a great partnership.
If you use and abuse a good investor friendly realtor, you will have a hard time finding one in general.