What value can a real estate agent bring

Question

Good morning BP members!

Just wanted to know besides running comps, what are some other reasons why you would want to have a real estate agent on your team? What value do they bring to you, specifically to wholesaling?

My other question is if you have a real estate agent that is always running comps for you, how do you compensate their time? Do you pay for each time they do it or is it as simple as telling them you will send business their way?

Thanks for your time!

Randall Weatherall · Answer

I'd say one of the biggest benefits is they sell your stuff to qualified, proven Buyers.  Well, more correctly: they prioritize selling your stuff over the other 50 wholesalers they get units from that they have no relationship with that just shotgun them properties.  But I would advise against bombarding them with comp requests; those are things that any moderately seasoned wholesaler can do because they know when they're starting off that it's important and they work to learn it.  And if you do send comp requests, please provide your number to show some effort.

If, after a while, you have some Realtor buddies that have helped you sell in the past, please send them potential listings for them to sell and they can often even give you some portion of that if they're open to it.  A big part of this is being able to admit that, 'Hey, this is MLS material and the lead doesn't want to sell to me.'  Instead of hounding them for three years, pass it on and try to get a piece of the listing.

Ini Umana · Answer

@Randall Weatherall thank you for your input. Very good points!