Realtor · Youngstown, OH · Member since 2023 · 13 posts · 12 votes
Hello BP Family! I am new to the forms but have been listening to BP for a couple years, and are a big reason why I became a Real estate agent. I would love to be able to provide value to investors in the NE Ohio area! With that said, I am curious to know from an investor's perspective what are some key skills you look for in an agent? I look forward to reading your input and connecting!
Have seen al the houses in area on preview (boots on ground); have contractor/insurance/CPA/handyman/lender/title on speed dial; know the cods and dude at the planning desk; have all the utility contacts on a card; play well with other agents and be known as a honest negotiator; be available in their time zone; say I don't know but I will find out when you don't have the answer and call them in ten minutes with the right answer; perfect at contracts...
Have seen al the houses in area on preview (boots on ground); have contractor/insurance/CPA/handyman/lender/title on speed dial; know the cods and dude at the planning desk; have all the utility contacts on a card; play well with other agents and be known as a honest negotiator; be available in their time zone; say I don't know but I will find out when you don't have the answer and call them in ten minutes with the right answer; perfect at contracts...
Have seen al the houses in area on preview (boots on ground); have contractor/insurance/CPA/handyman/lender/title on speed dial; know the cods and dude at the planning desk; have all the utility contacts on a card; play well with other agents and be known as a honest negotiator; be available in their time zone; say I don't know but I will find out when you don't have the answer and call them in ten minutes with the right answer; perfect at contracts...
It varies client to client. Some people want "just sign here, this is an awesome deal" other people want to be much more involved.
In my experience, a good agent can read the client and see what they're REALLY looking for.
When investors are looking for an agent, they want someone who understands how buying rental properties works, ideally owns rentals themselves and has the connections to make things happen. You don't need to know 100 contractors and lenders, but 2-3 of each that you know and trust goes a long way. They don't even have to be the "best" necessarily, they just have to be good, reliable and honest.
It varies client to client. Some people want "just sign here, this is an awesome deal" other people want to be much more involved.
In my experience, a good agent can read the client and see what they're REALLY looking for.
When investors are looking for an agent, they want someone who understands how buying rental properties works, ideally owns rentals themselves and has the connections to make things happen. You don't need to know 100 contractors and lenders, but 2-3 of each that you know and trust goes a long way. They don't even have to be the "best" necessarily, they just have to be good, reliable and honest.
Hope that helps!
Ben, thanks for the insight! Building my network is going to be huge!
Hello BP Family! I am new to the forms but have been listening to BP for a couple years, and are a big reason why I became a Real estate agent. I would love to be able to provide value to investors in the NE Ohio area! With that said, I am curious to know from an investor's perspective what are some key skills you look for in an agent? I look forward to reading your input and connecting!
Thanks,
Joe
A lot of my BP clients just need someone who can go and physically get into the property. There are a LOT of things that might look great in an online listing, but that have plenty you notice if you go in person that you didn't see in photos or descriptions. I've worked with investors who have never actually ever set foot inside the property - I'll go and either do Facetime or make a video walking through it and just talking about what I see (and smell, and hear!).
I think having a good understanding of construction costs is also incredibly helpful. Knowing if what you are looking at in a property is a $2,500 problem or a $25,000 problem matters - a LOT.
Lastly, just knowing your market, as intimately as you do accurately, is critical. When I talk with investors, I do a really in-depth pre-interview before I ever pull the first listing for them. It takes an hour to an hour and a half, but it's absolutely the most important part of the process for me. I want to know what their motivations are, what their goals are, and what their ideas are about how they want to implement their vision and goals into reality. It helps me what to think about when I'm evaluating a property for them, and how to present a property to them. My goal is to help them find the perfect property, and that means I need to know how different property types, neighborhoods, and conditions intersect with the goals they have.
Good luck! I've poked around online listings in NE Ohio before, and it looks like an interesting market!
Martin, Thanks for the response. I love what you said about knowing the market, as intimately as you do accurately - this could be a great advantage to investor agents!