Whether you are looking to flip houses or rent them out, you need to have a good realtor when looking at investment property. Most people just starting out in the business of real estate will look in the phonebook for the first realtor they see and go with it.
However, if you truly want to be successful, you need to do a little research on which realtor will be a good match for you and your business. Here are three things to consider when looking for a realtor.
Make sure they know the area.
It is also important for investors to know about the neighborhoods and communities where they invest. You may not always be in the same town in which you invest property. In this case, use a realtor that is in the area who knows the ins and outs of the neighborhoods. Too many realtors are looking to make a quick profit off of outsiders rather than forming a lasting relationship with investors. Use realtors who are experienced and have been around a while.
They should be willing to take risks and chance being rejected.
Buying investment property and buying a home for personal use can be completely different. As an investor, you are going to have to offer what you think property is worth. If your realtor is experienced, they will often have a pretty good idea of what a person is going to accept. Find a seasoned realtor who knows you are buying investment property and will help you make offers accordingly. Often times, other investors in the area will suggest certain realtors that work well with investors.
Make sure they are easy to work with.
There are many reasons that make people hard to work with. Your realtor needs to be open and up front. They should never neglect to tell you important details of a property or keep information from you. If they aren’t looking to help you grow your business, look for a better realtor.
Plus, sometimes two people just do not click.