Of course, there are so many real estate agents out there in the housing market. However, you don’t just need a real estate agent to work with. You want a good one that will meet all your demands on your investment properties. So, here is some advice in order to find a good real estate agent.
Find a good real estate agent: Look for agents with good credentials
- Find a real estate agent that works in your area: A real estate agent that works in your area is the best option for you. This means that he/she knows enough about the area, the neighborhoods, the facilities, and the latest real estate market trends in that area. It does not matter whether you are looking to buy an investment property or sell one, find a good real estate agent that knows all the details about the area you are interested in.
- Check the agent’s license and check if he/she has any awards: What you really want to avoid is an illegal real estate agent. Make sure you check your state’s list of licensed agents. This is important in order to make sure you are dealing with an agent who is operating legally. Another thing that might help you to find a good real estate agent is awards. If the real estate agent who you are looking to work with has awards and honors, he/she might actually have what you are looking for in an agent. Though, it does not mean that an agent who doesn’t have them is no good. It is just another optional thing to look at in this case.
- Look for experienced real estate agents: Look for real estate agents who have been in the business for a few years. This is, in fact, an indicator of a good knowledge of the real estate market. Still, it doesn’t mean that they’re not good if they are new, it’s just a matter of more experience in the field.
- Ask for referrals: Ask around people you know who have bought or sold their properties lately. You can even ask your family or friends. But it still doesn’t mean that you have to pick the real estate agent they have worked with. Even if an agent has met all of their requirements, it doesn’t mean that he/she is going to meet yours.
Find a good real estate agent: Interview the real estate agents you have on your list
Interviewing real estate agents directly might reveal some personality traits in them that would determine whether you can trust them or not. You should take notice of their communication skills, for instance. Observe whether they are good at relaying information or not. Find a good real estate agent who has the ability to let you know clearly where you stand in terms of the deal. Another thing to pay attention to is that your selected real estate agent is not the type that settles for “good enough” results. You need to get your business done as perfectly as possible.
Therefore, here are some things to ask when you interview real estate agents:
- Ask them what kinds of properties they work with: Some real estate agents are specialized in certain types of real estate properties. They could be specialized in commercial properties, while you want to sell your residential property,which will not be the best choice for you. In this way you can make sure they have enough experience with the type of property you are dealing with. You can also ask them to show you some of the properties they are working on at the moment.
- See if they are easy to deal with: It is crucial for you to get along with the real estate agent you are looking to work with. After all, you are going to deal with him/her for quite some time.
- Ask them for reference: A good real estate agent wouldn’t mind giving you the contact information of his/her recent clients. You could contact past and current clients and ask about their experience working with this particular agent. That might help you make a decision regarding whether to work with this agent or not. But, keep in mind that no real estate agent would give you the contact information of clients they had problems with. So, be careful about it.
If you feel like you don’t want to interview prospective real estate agents, you can go with attending open houses. You can see real estate agents in action. Thus, you can have a better idea of their work. This will also let you observe whether they have what you are looking for or not.
Now that we have talked about what to look for in a real estate agent, there are things to avoid in order to find a good real estate agent for your real estate investment transaction. So, here is a list of what you should avoid when looking for a real estate agent to work with:
- Do not work with agents who don’t work in your area. Remember, a good real estate agent should know everything about the area you are looking into. So, make sure your agents knows the area, know the market trends, and knows the best locations if you are looking to buy an investment property in that area.
- Try to avoid part-time agents. A real estate agent who works part time is not capable of dedicating his/her time to your deal. Therefore, this might affect the service you get on your deal. Though it does not necessarily mean the agent is not good, it is just a matter of time and a better service. This is something to consider to find a good real estate agent.
- Do not be swayed by lower commissions. A good real estate agent does not have to lower his/her prices to attract clients. He/she usually charges an average of 5-7% per deal. So, do not get tempted by a lower commission.
Now that you know what to look for and what to avoid, it is all up to you. Be wise with your choice, and make sure you find a good real estate agent for your investment property.
For more advice on your real estate investing business and finding the best investment properties, keep reading on Mashvisor.