What are investors looking for in a realtor? What are some things that make this relationship work?
You require an investor friendly realtor that will show you various properties, know you may make multiple offers, low ball if necessary but also knows that you are a buyer.
Preferably- one that owns rental properties, and or, investment properties. One that knows the criteria of a profitable asset and one that has your end goals in mind. A team player and is out for your best interest.
Most realtors are used to retail buyers who are not savvy to the Real Estate industry. They go through a realtor once a decade, so its easy to pay the fees and get on with living in your new home.
Investors obviously do a lot of transactions in a year, they are savvy, and they are always trying to save on fees. Investors can be much more time consuming than a retail client, but they will also do many more transactions. A relationship with an investor can pay a realtor for a long time, whereas retail buyers won't really keep business coming.
As an investor, I'm looking for deals primarily off market. A realtor brings the most value to an investor for off market deals because once its on the MLS, it's probably not a good deal anymore. This is where I get the most traction from realtors. Make sure you understand the investor's criteria for what they need to make their type of deal work. If you understand that well and can meet those expectations, then an investor should buy from you regularly.
I appreciate the insight.
As an investor and development consultant, I am looking for a realtor that is nimble, creative, can make deals quickly and can bring me opportunities. I also look for someone who has other skill sets like creative financing, title search, understanding of laws in their jurisiction related to legal transactions and who has a buyer pool. For example, I am working with a real estate agent now in helping her become a broker by matching her with one of my broker clients and together they have already researched and packaged several deals for me and have done title search for me that saved me a lot of money. And they are also now co-partners in two deals with me. A good real estate agent who can bring opportunities and money is invaluable for an investor.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.