How to Find an Investor Friendly Agent
I’m not sure why, but for some reason there is a disconnect between real estate agents and investors. A smart agent would help make the connection realizing that the investor is more likely to make several purchases rather than just one or possibly two.
Here are some tips you should use to ensure you are working with the right agent:
- Make Sure they Understand the Numbers – Make sure your agent understands your strategy and what your numbers (returns) you are expecting.
- Areas – Make sure your agent knows the area of town and can find you properties that will produce the expected outcome . A good investor friendly agent will most likely be working with more than one investor and will have an inside track to great investing neighborhoods.
- Willing to send you deals – Your agent needs to be on top of the market and needs to be constantly looking for deals and sending them to you. They should have an auto-email list that you need to be on.
- Keep you informed on market/neighborhood trends – You agent needs to have a clear picture of both the market trends and neighborhood trends. This will save you (the investor) a lot of leg work.
- Make Offers – Your agent should submit offers for you. Even if they don’t like the offer they should be willing to submit it and present it in a way to me more likely to be excepted.
- Estimate ARV – Your agent should be able to give you a fairly accurate estimate of the after repaired value (ARV) of a property.
- Rough Estimate of Repairs – Your agent should have a good idea of what repair costs are. It does not have to be super accurate, but they should be able to get you in the ball park.
- Contact – You should be able to talk to your agent. Via text, phone and email you agent should be accessible to you.