The Synergy of Investor and Agent

​Remember, real estate investing is a business, and the best investors usually have the most business skills.  An agent will help you expand your real estate investing skills.

The Synergy of Investor and Agent
By Pierre Mouchette | Real Property Experts

Before deciding on a Real Estate Agent, you must ask yourself the following:
What is your background?  As you answer this question remember, real estate investing is a business, and the best investors usually have the most business skills.  Supplement answering this question by creating a business plan if you have not already made one.  This plan will help keep you on track to securing your business goals and dreams.

Now, ascertain how much do you know about:

• Business and Business Management.
• Finance – how are you going to finance your investments?
• Strategies - what strategy or strategies will you employ?  What are you going to do with your investment property?  Fix-n-Flip, buy and hold, or what?
• Investing – what type or types of property are you going to invest in?  Single-family, multifamily or commercial.  Determine your niche!
• Team Members – aside from your agent, have you obtained your team?

Why do you need an agent?  Can you

• Locate properties for sale on your own?
• Negotiate your deals?
• Navigate the buying and selling process?
• Access the MLS?

How will an agent benefit from your relationship?

• Multiple Deals – you will invest in numerous properties.
• Buy and Sell Often – unlike residential home buyers, you will typically buy and sell frequently.
• Systematized business – as an investor, you have no emotional ties to a property.
• Funding – your ability to obtain financing for the investment process.
• Closings -you are familiar with the closing process.
• Referrals – you can furnish referrals.

If you decide that you have reached this point in your investing life, then it is time to secure the services of a real estate ‘buyer’s agent.’
 
The Agent
When interviewing the agent, say, “Tell me about yourself?”
This statement should give you answers to the following:

• Their education!
• How long they have been in real estate!
• Their experience!

 
This is a great way to begin the discussion and break the ice.  In asking this simple question, you can learn a lot about the individual.  For instance:

• Did they make a face when asked?
• Did they respond immediately or, did they have to think before responding.
• Their qualifications!

 
If their reply did not provide you with the answers to your question, then ask them specific questions such as:

• Their real estate specialization (does it match your needs)?
• They generated the volume of dollars in sales for the past five years for both buys and sold.
• If they have ever had a client pull a sale from them?
• And yes, the list does go on.... formulate yours!

 
After the interview, let the agent know that if you employ them, you will expect the following:

• When pricing property, you want to know the reasonable price a property will sell before purchasing or selling it.  No exaggerations!
• That time is of the essence, no cliché.  Time eats up profits in all properties! 

 
Let the agent know that you will get back to them within a few days and that you thank them for their consideration.