JAN 27, 2023
As a first time, or new real estate investor, it would be a wise choice to work with other agents that are also investor. Besides knowing more about overall investing strategies that you're aiming for, an investor friendly agent will generally have a different style of working when compared to other realtors/brokers. Below are the most common signs that you're working with the right agent as an investor:
Investor friendly agents can not only help you crunch the numbers on specific deals you're eyeing, but they can also share their own underwriting criteria to help you make a decision. Often times, investor friendly agents are also investors themselves and are open to talking about their deals and lessons learnt.
Probably the easiest way to tell whether or not your agent is investor-friendly is asking: do they already work with investors? Although the supply of realtors in your market may be abundant, there's only a small percentage of those realtors that are investor-friendly or even investors themselves. Almost all investor-friendly agents network with each other and others in the industry. If you notice that your agent is a regular member of investing meetups, or even talks about real estate from an investor's perspective on all her social media content — that's how you can tell they work mainly with investors.
Most investor friendly agents and real estate investors know that real estate is a reputation industry — even more some when it comes to the investing side of things. Because of this core reason, almost all Investor-agents typically will avoid any kind of behavior or ethical violations that would jeopardize their livelihood or social standing with their peers.
Although most realtors can whip up a comparative market analysis on a property you're interested in within a few minutes, investor-agents can take it a step further by giving you an idea of overall trends in specific neighborhoods (is there a new shopping mall opening? Which stores are going out of business? etc.). This helps a lot when looking at your first few properties because your agent will have a better grasp on your needs as they've likely been in your shoes not long ago.
This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.