What makes a good investor friendly real estate agent?

Question

We all know by now that when investing in real estate you want an agent who understands the in's and out's of real estate investment, but what does that actually mean to you? What makes a truly great investor agent?

Steve Vaughan · Answer

A good investor friendly agent for me is new and hungry and wanting to learn. They have time and are passionately curious.

A good one for the new investor is experienced and successful. They have investments of their own and are probably too busy to sling low ball offers for you. Maybe they have someone in their office to help with the day to day but can step in when it matters.

Get on an MLS feed from any local broker online and learn to make offers yourself.   Most PSAs are fillable online PDFs. Or do what I do and write an LOI. Once the LOI is accepted, bang out a formal PSA.  The experienced investor agent can help at that point.

Joe Villeneuve · Answer

My questions:

1 - How many HUD offers have you processed?

2 - Will you submit all credible offers (meaning offers that the agent thinks may not go through, but are NOT embarrassing)

3 - Will they submit offers BEFORE I inspect the property based on financial/investment number$, with the inspections taking place on all accepted offers

Brandon Sturgill · Answer

@Grace Myers Responsiveness and capability...diversity...skills...experience...systems...tools, and relevance. My advice to folks shopping agents is to prepare 3 simple questions to eliminate 99% of agents that claim to be "investor specialist"

1.) What does your portfolio look like?

2.) What tools will we be using to work together?

3.) Can you tell me how to calculate cash-on-cash?

To be a great investor agent, you have to have experience in the area your client is looking...we work with out-of-state investors in the small multifamily market...so 90% of our deals are 2-4 unit properties...we do an initial feasibility interview...if you're looking for something we cannot provide excellent service on, we'll decline to work together. This has to be a relationship...it's not just about investors picking agents, it's about agents validating needs can be met before entering an agency relationship.

Edward Liu · Answer

I don't ask for too much:

1) Need to understand investor terminology, such A/B areas, CAP, ROI, etc.

2) Willing to walk away from deals with you (too many try to convince you to stick to deal) - best ones tell you which is not good deal

3) Understand our working relationship is not about 1 deal, but many deals over many years

Grace Myers · Answer

@Steve Vaughan I appreciate your perspective! As a relatively new investor agent, my portfolio is still growing, but I am learning everything I can and am willing to go the extra mile for my clients, from finding them properties that align with their needs to prompt follow-up from contract to close.

Maurice D. · Answer

@DennisD38 he could be a realtor investing out of state, so he needs a local realtor there.

Dennis Dahlberg · Answer

The question is --- why are you not the real estate agent?

https://www.biggerpockets.com/blogs/11346/78940-8-things-you-must-do-to-be-a-successful-flipper

What makes a good investor friendly real estate agent?

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