What qualities makes a realtor a good fit for a REI?

Question

Obviously things like professionalism, experience, integrity, good character, etc. are important.

But specifically, are some realtors better suited to serve REIs than others?

REIs and average Home-buyers are two completely different segments of the market, and so are their wants/needs/fears/mindsets. So I would assume that some realtors focus in on targeting average home-buyers, and others cater to REIs.

Brie Schmidt · Answer

@Brandon Paul - Great Question. I own/manage a brokerage company and 95% of our transactions are investments and I have 4 agents that work in Chicago and the surrounding areas. All of my agents were investors first, and then starting working on the agent side. To me, that is really important. Any one of us can share our own first hand experience with clients and all of us have the same passion and drive for REI.

The investor side is drastically different than the retail side and having first hand knowledge is incredibly important. I would not even consider bringing on a retail agent without investor experience themselves and it pisses me off when retail agents try to handle the investor side, they make mistakes left and right and cost their clients money

John Warren · Answer

@Brandon Paul I work primarily with investors in the Chicago western suburbs near Berwyn and Brookfield, and I like to think that I am able to empathize with them as I am an investor as well. How can someone give you great information on land lording if they do not own or have never owned rental properties?

Obviously, you want someone highly skilled that knows the market as well. I would also think you would want someone in your area who makes it there business to know the right contractors as well.

Matt Moreland · Answer

Brandon,

Some things to look for in an REI-friendly Realtor:

• Knows the market (more than just what is popular, they recognize trends and rent-growth opportunities)
• Understands how to analyze investments, and doesn't present deals that don't meet return requirements. Only having to double-check numbers on a few promising properties saves a lot of time. Let them run numbers for you and use your time to in other productive ways.
• Energetic: if they are an investor themselves, they're likely to have more drive and excitement when they find good deals that meet your criteria. If they don't have the drive and excitement about it, they're less likely to spend time looking.
• Finally, and most importantly, a desire to learn. Most REAs are in the business to sell homes, but most are also eager and willing to learn something new in order to help better serve a client.

Good luck to you!

Damien Dupee · Answer

@BRANDON PAUL Absolutely, you want a realtor who is focused on the same thing you are focused on #deals. Maybe they inspire to one day do what you are doing. Your looking for an individual who loves serving, solving problems, and last but not least hustle and flow.

Russell Brazil · Answer

Market knowledge

What qualities makes a realtor a good fit for a REI?

What qualities makes a realtor a good fit for a REI?

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