Thinking about hiring a real estate agent?
Are you an investor thinking about hiring a real estate agent? You are on the right path. There are quite a few benefits to having a real estate agent on your team. When considering hiring, it’s good to know that not all real estate agents are “Investor-Friendly.”
Investor-Friendly agents are proficient with RE Law and their respective local markets, just like any other agent. The difference being the Investor-Friendly agent has developed an additional niche in the investment world and is familiar with financial metrics such as the fair market rent, operating expenses, cash flow, return on investment (ROI), and potential tax benefits of owning a specific rental property.
An Investor-Friendly agent can benefit new investors or investors who are investing remotely.
Like with anything else, there is a risk when hiring an Investor-Friendly real estate agent. As an investor, you want to be sure the real estate agent will not cherry-pick the best deals for his or her portfolio, leaving you with the rest. Working with an Investor-Friendly agent who isn’t actively investing is a solution. However, other options can meet the same objective.
Keeping in mind that the Investor-Friendly real estate agent is also in the business of making money, here are some alternatives that will ensure the agent is aligned with your investment goals and that you, as an investor, meet their objectives as well:
Make the agent part of your team
Give them repeat business
Offer a small percentage of your profits
The real estate investment world is built on relationships. Relationships are built over time. Taking the time to invest in an Investor-Friendly real estate agent can open up unlimited opportunities and have a significant impact on your ROI.
SOURCE: Roofstock Blog | Written By: Jeff Rohde | Published: 12/15/2021
What is an investor-friendly real estate agent and Benefits to having one?