What sets Realtors apart?

Question

In your opinion what sets some realtors apart from others? What do you find helpful? What do you find frustrating?

Mitch Messer · Answer

Hi @Andrea Snyder!

As a buy-and-hold investor, the best Realtors for me are those capable of thinking like an landlord, and who approach deals the way a landlord might. They must also have an investor's sense of urgency around getting deals closed, repairs completed, and prospective tenants screened and secured, so that actual money can be made.

I find nothing more frustrating than being presented by an agent with a prospective rental "deal" that, even using the most generous analysis, clearly makes ZERO financial sense. To me it indicates a shocking lack of professionalism and good judgment.

Alexander Felice · Answer

for most of them - NOT MUCH

The problem with realtors, as with many brokers these days, is the internet. Brokers were the experts in many areas to bridge the gap between the end buyer, and the field they want to operate in. Whether it be real estate, equity markets, car buying, insurance, and more. The buyer doesn't have the information or even access to information to make a good decision, so they hire a broker to help facilitate their business needs.

Enter the internet, an abundance of information like the world has never seen. 99% of what a real estate broker provided in the past: access to MLS, understanding of market prices, ability to walk a client through the buying process, are no longer strictly available to realtors. Zillow has leveled the playing field so greatly that for a buyer who isn't brand new, the realtor gets in the way more than they help.

So, for a new buyer who is buying their primary residence a realtor still has some value (access to homes, creates trust in a big purchase decision), but for someone who buys investment homes the only way a realtor can provide value is to help the investor MAKE MONEY.

This is tough though because the barrier to entry for realtors is ZILCH, and most have no clue how to make money in real estate. My realtor sends me great deals and she includes comps, and talks to my property manager and gets rental rates, and she sends me pros and cons lists of these units all at once. My realtor earns her commissions above and beyond, but I've been through a lot of realtors who were just order takers before this one. Most realtors are just order takers, and they only reason they still earn 3% is because the system has not kept up with the changing environment.

The best realtors have aligned goals, if the realtor is just looking to make an easy commission (which is most), then their value diminishes every day that house buying technology increases.

sorry for the rant LOL

James Wise · Answer

If you are asking this as a form of market research I am gonna break down the biggest thing you gotta understand about this business. The most important part of being a successful agent is marketing. The 2nd most important thing is marketing. As is the 3rd, 4th & 5th thing. It's a marketing & volume business. Remember that above all else.

Joe P. · Answer

Honestly if it weren't for the access to Trend MLS/similar programs (so I can see actual expenses, taxes, etc.) and access to the property, I could do most of the work on my own with a title company.

I would want an agent who can see something hit MLS (or not, maybe something pre-MLS) and run some rudimentary numbers to see if its worth bringing across my desk. I've yet to meet an agent who can do that or is willing to do it. But bringing deals and useful information to my front door would qualify as a great agent. Someone who responds to my inquiries and gets my information quickly would be a good agent. Someone who just has the access and escorts me from property to property, because you need to be an agent to do that, is just an agent.

Corby Goade · Answer

Welcome, @Andrea Snyder! I became an agent because I was frustrated, in general, with my experiences. Ask any agent if they work with "X" population (investors, first time home buyers, short sales, whatever) and they will say, "Yeah! that's my specialty!" Much of my business as an agent comes from investors who were working with agents who "specialized" in investing, but had no investment properties and had no idea how to help them analyze a deal.

As an investor myself, my biggest frustration was telling an agent what I was looking for, and for them to tell me that they knew better than I did, they were doing to educate me about what I really wanted. I'd always have to hand them the property I wanted, they'd do the paperwork and collect the commission.

All of that said, there are some GREAT agents out there- lots, in fact. One of the reasons I got my license was because I finally found an agent who was great to work with and they provided me with support and encouragement.

What sets Realtors apart?

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