Interviewing an Agent?! Must ask questions some investors miss.

Congratulation's, at this point you probably have turned yourself into a human sponge soaking in every BiggerPockets Podcast you could find. Virtually brainwashing yourself into some sort of real estate investing sleeper agent who springs into deal making action every time you here your trigger words. "Multi-Family Cashflow" 

That's great and all, but like most people you probably still need an agent. If you never worked with one before, chances are you still will have no idea what to ask. Or your like me and forget half the questions you were going to ask once you get on the phone. So in this article I have provided a series of questions to weaponize yourself during your next agent interrogations.  

(This article is for individuals who haven't worked with or have limited experience working with an agent. This list is to help you get the most out of your interview the first time around.) 

1. Ask them how his weekend was!- So important! 

2. How many years they has been in business and how many deals have they closed this year?- If they have not been in business long, ask him if he has a team in place to draw from. If so, ask to speak with them or get them on that call! There is still opportunity here. With this type of agent you will receive exceptional service as they do everything in their power to please you. Could be great long term!

3. Is this your Full Time Job?- You should already have a feel for this by the first question. But again, it is good to know they are not more distracted than they need to be. 

4. How long has he lived in your target market?- Always good to have a local professional. They don't have to live there their whole life, but it is good to hear they have "worked the market for years", or "attended school there." So long as it's something better than... "I don't live there, but I can help."   

5. Do you own any investments!?? - Its always better to have an agent that is doing it themselves. Ask him about his investments! Where and what are his investments? You may have a plan in your mind, but it could be very beneficial to have someone who has experience to guide you. What you think your looking for may not even exist in your market. First "value" an agent should be able to provide you is by helping you establish a crisp clear framework/expectation for what your looking for in your specific market. There is a balance here. To specific and you will never hear from him. To broad and you may find it hard to make a decisive decision when presented multiple opportunities.  

6. How often does the borough do inspections & what documentation do I need to file for the city I am investing in?- This is very location specific question. If they can answer this, they are clearly in tune with the neighborhood. (Usually you can just find this info on city website.) 

7. What types of offers are getting submitted in this market?- They should be able to provide specific details into the offers they are writing up for buyers. This will give you some insight into what's to come if you want to write up a killer offer. 

8. How has the (YOUR MARKET HERE) market responded to the resent market change?- Always good to talk a little shop! 

9. How will I be sent multi family deals?- If they just set you up on a MLS feed, that is lame. You should be receiving emails with COMPS, RENTS, or a quick analysis to help you establish home value/projected returns.

10. Do you hold any pocket listings or work with wholesalers?- Deal flow is good and with some persistence can lead to a killer deal.  

11. What title Co. and Inspector do you use?- Look em' up on google quick!

12. Look him/her up on zillow and facebook ect.- Do this first! It could save you from setting up the call in the first place.

13. Do you have an inhouse mortgage/title company?- This is good to insure deals close smoothly. Don't need it, but it is a bonus. 

14. What is your commission?
Best to ask at the end, after the agent has had a fair opportunity to provide his value. Remember, you get what you pay for! 

Remember, They don't have to nail every single one of these questions. There are probably more you have, that are not listed here. This is just to provide a sense of direction 

Please be respectful and listen to your agent. They are experts in the market, and have probably helped many people just like you. You may even be surprised to find they have questions for you! It's good to have an agent that challenges you when necessary. You will generally get to the fact of the matter quicker, and waste less time. 

At the end of the day its about building relationships. We are not just investing money. We are investing our time into people. Your ability to create mutually beneficial relationships will contribute to more of your success than the skillset of a particular agent. 

Hope you enjoyed reading this as much as I enjoyed writing it. Thanks for playing along & Happy Investing.

Sincerely, Austen Mueller