What Investors Look for in a Real Estate Agent. Do You Qualify? Do You Want To?
Investors as you know are a different breed. They work to the beat of a different drummer. Some Realtors love working with investors others hate working with them. That is fine. There is a Realtor for everyone and if you find a match with a local investor, you will find that it can be quite lucrative. But one thing is certain, you need a respectful, trusting relationship where both sides get out of it what they are looking for and that is success and profit. This really is the bottom line when it comes to investors and real estate.
Investors are numbers oriented, they don't really care about curb appeal, colors on the walls or even the condition of the property, if they intend to rehab and resell. They of course want to make sure the home has no significant issues, like structural damage, etc. unless they plan to tear down and rebuild on that lot.
Investors appreciate and require the knowledge that only Realtors have access to like FMLS, MLS listings, number of sales and listings in their chosen area, days on the market, etc. They also have a large arsenal of contractors who they can refer to investors when it comes time to renovate the home.
Realtors who have a great relationship with lenders who are dealing with foreclosed properties are a definite plus. A good Realtor can get your offer noticed especially when there are multiple offers involved.
Realtors who can act as a buffer between the investor and the potential buyer. Investors do not always want to deal with the buyers upfront and explain when they purchased the home, how much they put into the home and why the are selling the home. Realtors can answer the questions the buyers may have in a way that investors cannot.
Realtors who understand that the profit an investor makes starts on the day they purchase the home they intend to resell or rent and not just on the day they resell the home.
Realtors who do not have a problem with "bird dogging" for investors for good deals. If they continue to find investors homes that turn out to add profit to the bottom line, trust me when I tell you, they will continue to work with that Realtor.
Realtors who can save investors time, in whatever manner possible from purchasing to selling to closing the deal, will rank high in the investors eyes.
Realtors who market and sell homes as quickly, with the most profit possible. That is what the investor needs and wants. OF COURSE! But that means a Realtor has to be brutally honest with the investor from time to time. The investor will have much more respect for you and will trust your judgment from that point forward should your honesty prove to be accurate. Realtors know the areas more than anyone else, as it should be and your guidance to the investor in this regard is invaluable.
Now you may say, I do not want to deal with these demanding investors, but before you make this decision, remember this, investors are repeat customers.
Investors are also good sources of referrals to other investors, friends, relatives, associates, etc.
Investors are not picky buyers that want you to cart them around in your car all day.
Investors can either search online for properties or Realtors can give us a list of homes and we can drive by and check them out ourselves.
Investors do not need Realtors to hold their hands through the whole process. Plus they are usually pre-approved for loans or have the cash. If not they should be!
Realtors do not have to work for weeks finding investor loans, investors have access to these loans or hard money loans.
Unless you are dealing with an untrained investor or a novice (which I highly recommend you avoid) investors can actually save you time, headaches and frustration.
Investors are going to the be the ones who start buying up these homes that are sitting vacant across the country, they already are in many areas. So why not work with those who are buying rather than those who want to buy, but can't get a loan, or can't decide which home they want, or who can't decide which area they want to buy, etc. Investors already have a handle on these issues for the most part.
So if you think you want to focus on something new for the upcoming Year think about working with investors as your new niche market and prosper in 2009.
It does take a special Realtor no doubt, but talk to those who have found great success in the investment market and you will understand why they chose to go this route and stick with it.
If you think you fit the bill in your area, let me know as we work with Realtors from across the nation and we are always looking for great local Realtors!
May all of your real estate transactions be prosperous and thanks for stopping by.
Related Tags: investing in real estate, real estate coach, real estate training, real estate mentor, peter vekselman
Peter Vekselman has been successfully investing in real estate since 1996. He has completed over 1000 real estate deals, owned a construction company, been a private lender, and owned a property management company. Peter currently works with clients all over the US www.CoachingByPeter.com .Your Article Search Directory : Find in Articles
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