Any real estate investor knows that having a strong real estate team is an essential part of the business. You need your attorney, accountant, title officer, lender and real estate agent. The last two are probably the most important. Today we’ll talk about selecting an agent.
In a city or a large town it’s fairly easy. You probably have hundreds of agents to choose from and you just keep going until you select one that meets your needs. Choosing someone to work with in a very small town is a horse of a different color. You may need to choose from a very small number and it’s possible that none of them will seem to fit the bill. I was recently faced with having to make that choice myself when it was time to list a property.
Defining the Parameters
Most of my properties are in the small mining town of Ely in northeastern Nevada. It is actually a very good real estate market with a strong demand for rentals. When I first started rehabbing there several years ago I had the opportunity to work with a truly outstanding agent. She knew the market and understood rehabbing and investment. Unfortunately after watching me make a lot more money than she did, she decided to go into rehabbing with her contractor husband and she left the business.
When she left I started working with the first agent’s associate. That worked out well until that agent left the area because of her husband’s job transfer. It was back to the drawing board for me. I defined what I was looking for in an agent and began my search.