Real Estate Wholesalers Learn The Indicators Of A None Investor Friendly Real Estate Agent

Real Estate Wholesalers Learn The Indicators Of A None Investor Friendly Real Estate Agent
None Investor Friendly Real Estate Agents

None Investor Friendly Real Estate Agents

What often happens to new investors and real estate wholesalers is that they find a real estate agent who talks a good talk and appears to send good properties to make offers on; however, when the real estate investor or real estate wholesaler really starts learning about the market they find that what the real estate agent is recommending is not entirely true or is not really in line with the real estate investor’s investment criteria.  Real estate investor need to find an investor friendly real estate agent, who understands how real estate investing works and how to help real estate investors accomplish their investment goals.  The items listed below are limitations that some real estate agents might have; you don’t want to work with these limited real estate agents.

  • The none investor friendly real estate agent might have a limited understanding of the market, or their experience may be limited to a small area. If such is the case, the  investor friendly real estateagent might constantly bring you back to the area they are comfortable with.
  • The  none investor friendly real estate agent might limit him or herself based on price point or property type. They might not like going into a lower income area or working with a property that needs major repairs.
  • The none investor friendly real estate  agent might be eager and willing, but they might have limited experience and understanding for the market you need.
  • The  none investor friendly real estate agent might be limited in their ability to listen to you or to respond to your requests quickly.
  • The  none investor friendly real estate agent might be limited with their time and be too busy (or lazy) to show you enough properties or to perform the detailed searches and reports you need.
  • The  none investor friendly agent might place a limit on the amount they are willing to work for and be unwilling to work for lower commission amounts. In fact, some none investor friendly agent might even have commission caps.
  • The  none investor friendly real estate agent might only send you their, or their office’s, property listings. If these properties are good deals, certainly take advantage of them, but be aware that such a relationship severely limits your opportunity to find good deals.  The none investor friendly real estate agents that approach it like this are acting as an employer and not an employee and are probably not your best option.
  • The  none investor friendly real estate agent might simply give you access to the Multiple Listing Service (MLS) or key codes to get into properties, but if that’s all they’re doing, you need to ask yourself if they are making you work too much for what you’re paying them.
  • The  none investor friendly real estate agent might consistently send you the Client Summary version of the MLS listings for the properties. These limited listings don’t have the details you need to make a sound investing decision based on value, condition, and overall quality of the deal.

Your investor friendly real estate agent will be an important part of your power team; they must be on board with you and your business plan or you’ll need to find a different agent. Always remember: you are paying them, so they are working for you, not the other way around. You dictate where you’re going to spend your money and what investment criteria you’re focusing on, not them. It’s great to be open minded to new areas and opportunities, but if you lose sleep at the thought of investing in a particular area, or property, you’re being untrue to yourself and you won’t find comfort in that investment. You need to invest where, when and in what you feel comfortable investing in, after all, the real estate agent isn’t investing their money into the property, you are.

If you want to learn more about finding investor friendly real estate agents, I recommend that you read a book titled “Surefire Techniques to Find Investor Friendly Agents.”  It discusses the characteristics any real estate investor should look for in a real estate agent too.  It is a great read.

January 13, 2013 / by / in , , ,

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