Generally speaking, it is not so hard to find real estate agents when you are looking to buy or sell your real estate property. However, if you are a real estate investor, two main questions come to mind: How do I find real estate agents near me? And are they qualified to work with investment properties in specific?
It is important to understand that not every real estate agent is qualified to work with investment properties. When you are buying or selling your own home, it does not really matter what real estate agents you are working with because most of them are able to do the job.
Related: How to Know You Are Ready for Multiple Investment Properties?
However, if you are a real estate investor, you are looking to work with real estate agents who are experts on dealing with investment properties. So again, you are asking yourself: How do I find real estate agents near me who are qualified to work with investment properties?
No worries, all you have to do is to follow these steps:
Find real estate agents near me for investment properties: Ask for referrals
It is always a good idea to ask family and friends when looking for real estate agents. You might know someone who is investing in real estate and therefore has worked with a real estate agent specialized in investment properties. After all, you are asking people who have worked directly with an agent. They can provide you with a feedback on their experience with this real estate professional. Ask about his/her work, punctuality, answering phone calls, and how easy is it to work with this person in general. Still, you should not take any advice as a given. Even if the real estate agent whom your friends have worked with was able to meet all their requirements, it does not necessarily mean that they are going to meet yours for a fact. So, just keep that in mind when looking for a real estate agent for investment properties.
Find real estate agents near me for investment properties: Test their knowledge of the real estate investment market
Do not be afraid to ask some real estate relevant questions. Your real estate agents should know the answers to most of your real estate questions. Otherwise, they are supposed to tell you if they fail to answer them. They should tell you if they do not know the answers readily but that they will find out the answers for you. This isn’t just an indicator of their knowledge, but also of their honesty and integrity.
Related: What’s a Good Cap Rate for Investment Properties?
Find real estate agents near me for investment properties: Look for local real estate agents
Now, this is important. The best real estate agents are the ones who work in your target housing market. They know more about investment properties in that location. Therefore, they know about available investment properties with the best cap rates, properties that bring about positive cash flow, and ones with better financial prospects. Try to discuss the best investment strategies in that area as much as possible. Your real estate agent should be able to recommend some for you based on your investment goals. So, be smart and look for a real estate agent who works locally.
Related: These Are the Best Neighborhoods for Dallas Real Estate Investment Properties
Find real estate agents near me for investment properties: Look for experience
Your number one priority is to find real estate agents who have worked with a number of investment properties. Therefore, finding someone experienced in that area is your goal. Some people look for real estate agents who have an experience of at least five years. However, this does not mean that if they have less experience, they are not a good option. Just focus on their experience with investment properties. Ask them how many investment properties they have worked with. You can even ask them to present some of their work to you. Do not be shy to ask them to show you their achievements. A good real estate agent should be OK with that.
Find real estate agents near me for investment properties: Look for a real estate agent with good connections
The real estate market is all about connections and contacts. Good real estate agents should have all kinds of people on their contact list and within their real estate network. They will have to work on regular basis with home appraisers, other real estate agents, real estate brokers, and other parties. A good real estate agent should have connections with people in the real estate market in general, and in the real estate investment market in particular.
Find real estate agents near me for investment properties: Are they investing themselves?
Although it is not that crucial, it might be a good aspect to consider. Real estate agents who have invested in real estate properties personally are a better option for you. They know what to do, and what is required from them, as well as all the other procedures they have to go through. So, asking about personal real estate investments is indeed a good idea for you.
Find real estate agents near me for investment properties: Look for ethical real estate agents
Ethics are very important in terms of work. If you find a real estate agent who is willing to break the law just to bring you good deals, you should be concerned. Breaking the law during the procedures means legal problems for you. Legal issues are the last thing you need for your real estate investment plans. That is exactly why it is important to get referrals from people you know who have worked with real estate agents personally. Or you could use the services of a realtor who is just like a real estate agent but is a member of the National Association of Realtors. A realtor committed to a strict code by which he/she must act.
As we mentioned before, finding a real estate agent is not the hardest thing to do. However, finding a real estate agent that is qualified to work with investment properties is the real challenge. Remember that your number one goal is to make a financial profit out of your real estate investment. Your agent should be able to help you achieve that goal. So, following the previous steps will be of great help to you. Make sure you have your real estate investment goals set and that you choose a real estate agent who is capable of reaching those goals.