New agent in Columbia, SC: what do you want from an investor-friendly agent?

Question

Hi everyone, I'm Nicholas. I'm a newer agent with RE/MAX Results, and I live in Lexington, SC. I've been spending most of my time working with long-time rental owners around Lexington, West Columbia, and Irmo, and I'd like to get better at serving investors.

For those of you who invest in the Columbia area, or anywhere really: what makes an agent actually useful to you? Is it fast comps, rent estimates, off-market deals, contractor contacts, or something else? And what's the biggest mistake you've seen agents make with investors?

I'd also love to hear what areas around Columbia people are finding cash flow in right now. Thanks in advance!

Matthew Morrow · Answer

@Nicholas Mitsakos me again! Long-time rental owners are a great group to work with. The biggest thing I'd say is brutal honesty. As investor agents, that's what we tell our new clients up front: you called us because you want a good investment, not a bad one. So we're going to be open with you, and there will probably come a time when we say something or show you data you don't like or agree with. This is business, and you have to run your real estate like a business. Otherwise it's a charity, or worse. Some people will get turned off by that, and that's OK. You don't want the gun-shy, overly critical clients anyway. But the large majority will say, 'Wow, I've never had an agent talk to me like this. When can we start?' From there, my next words are: let's talk about your finances, your purchasing entity, and your business support. A slam-dunk deal without good structure can still be a world of hurt. Just be honest and direct. These are business people, or they're learning to be.

Brandon Vukelich · Answer

The agent should be an expert in their lane. We (agents) can't be the expert to all investors that want STRs, mobile home parks, land, flip opps, multifamily, etc. Pick your lane (asset class or strategy) and service investors in that lane by knowing the market pricing, inventory, activity, neighborhoods, etc.

Nicholas Mitsakos · Answer

James, this is gold. Deals that fit a written buy box, plus fast, honest no's, is exactly the bar I want to hold. I'm building that for Columbia and Lexington investors now. I'm learning a few zip codes street by street, including real rents, Section 8, and actual rehab costs, and I only send houses that fit instead of everything that hits the MLS.

If you're ever looking outside Memphis, or know someone who wants Columbia-area deals handled that way, I'd love to stay connected.

James Jones · Answer

Nicholas — what I want from an agent is deal flow that fits a written buy box, and fast, honest no's. My box in Memphis is single-family under $100K, 3BR+ preferred, ARV $180K to $265K, rent clearing the 1% rule. An agent who learns that box and only sends houses that fit it becomes valuable fast. An agent who sends everything wastes both our time. Second, know your ZIPs at street level: what a 3BR actually rents for, what Section 8 pays, what rehab really costs. Third, send the full picture up front: address, beds and baths, rent with a source, and your honest rehab read. Cash flow in any Southern market comes from buying under the rent, not from a hot ZIP name. Learn a few ZIPs that well and investors will keep you busy.

New agent in Columbia, SC: what do you want from an investor-friendly agent?

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