Buying or selling real estate takes more than just cash and property. You also need to have someone who will guide you through the ins and outs of the whole process. This person must have a deep understanding of real estate. For a successful real estate investment to happen, you should connect with the right real estate agent – one who is experienced and investor-savvy. We’re going to cover how to find an investor-savvy real estate agent in just a few clicks. Let’s dive in!
What is an Investor-Savvy Real Estate Agent?
With their understanding of real estate investments, an investor-savvy agent helps and guides buyers and sellers like you in finding the right investment properties. They are knowledgeable in the different aspects of real estate, including tax implications and return on investment (ROI).
What makes a real estate agent investor-savvy?
Real estate agents are plentiful, but only few of them are truly investor-savvy. These agents take into account your needs as an investor along with the market’s needs. Here are some characteristics that make real estate agents investor-savvy:
They have knowledge of the market
Whether you are buying or selling property investments, it is important that the agent you enlist has a deep understanding and vast knowledge of the market. This is because knowledge of the market, especially your local one, will help you to find the best options and value for your money. An understanding of the market will also lead your real estate agent to find property or buyers that meet your needs.
If, for example, you plan to invest in a city or town that is not in your area, a real estate agent who is knowledgeable on the local market will give you options on where to put your investment best. This is not just pointing to which part of the city you should look out for; their experience and knowledge will tell you which specific areas of the city will fit your needs as an investor.
They work with different investors for different investments
It is a huge advantage when your real estate agent has experience working with several investors for different investments. It is also ideal when the real estate agent has had experience investing in the market themselves. This means that they are capable of handling any issues that may come in your way. They can also make offers that consider not only the market, but also your needs. They know which goals are attainable, and which deals align with those goals.
Accumulated experience with property investments also indicates that the agent has a good reputation among people within the industry, including other investors. This is helpful especially if you have just entered the local market.
They know how to analyze details
Real estate, as with any other investment, involves analysis and number crunching. So, a real estate agent who is investor-savvy knows how to analyze potential investments to narrow down which options would best fit your needs and goals. They are also familiar with the industry’s vocabulary, so when you mention words such as “ARV”, there won’t be any confusion or misunderstanding between you.
Other than the familiarization of terms, an investor-savvy real estate agent knows how to calculate for your returns on investment. If you are investing in rehabilitation of property, an investor-savvy agent can calculate the estimated cost of repairs you have to spend. Although real estate agents know these like the back of their hand, it’s important to double check and find someone who is completely familiar.
They instill their core values into their work ethic
When searching for an agent for your property investment, their character and work ethic matters most. Investor-savvy real estate agents will be honest and upfront with you regarding your investment. They also have commendable work ethic, and recognize your needs. After all, an investment cannot be made without the investor.
Investor-savvy real estate agents take into consideration different factors that can affect your potential investment. They know which goals and needs to prioritize, and they look for options that best suit those needs.
Tips on How to Find an Investor-Savvy Real Estate Agent
Knowing what makes a real estate agent investor-savvy will bring you one step closer to finding your agent. Here are some helpful tips on how to look for an investor-savvy real estate agent for your next deal:
Searching real estate investment groups in your area
An investor-savvy real estate agent does not just come falling off a tree. You have to take steps to meet different real estate agents and figure out which one is the best. There are two great ways to find agents: online and offline.
With the dawn of Facebook and other social networking, there are now real estate investment forums you can join. There are plenty of groups where investors can interact with each other or with potential real estate agents. You can look into these groups and discover which agents and realtors have a good reputation, which ones got investors to trust their deals on, and which ones are not up to par with your needs.
The COVID-19 pandemic also limited physical meetings and contact with other people, so searching for investor-savvy real estate agents through these channels is highly advisable.
Remember, though, to look for groups that have members in your area of choice.
Participating in investor networking events
It takes an investor-savvy real estate agent to close a successful deal. You can meet successful investors at networking events and ask them about the realtors they worked with to make their investments. In addition to the ‘who’, you can also ask investors why they worked with the real estate agent in question. You can discover a lot about an agent’s work ethic, as well as their strategies, when you ask the people they’ve worked with before.
Through these approaches, you can develop a list of potential real estate agents to contact and consider for your property investment. The question now is an obvious one: who do you pick?
Narrow down your list
Now that you have your list, it is time for you to assess the people in it and take your pick. Here are some ways to help you in choosing the right investor-savvy agent for you.
Even with certifications and experiences, sometimes a real estate agent will not be the best fit for you. Always ask questions before making a serious commitment. The questions can range from their experience as a real estate agent to their experience as an investor (if they have any). You can also ask them questions about their strategies on making a portfolio of properties. The harder the question you ask, the more you will learn about their experience and knowledge on the local real estate market and its processes.
Checking out their website
Technology makes interacting with individuals easier. Buyers of real estate tend to use websites when looking for property, as sellers post their property on different listing websites. With the rapid transition to digital transactions, it is imperative that your real estate agent knows their way around the web. You can check their website if they have one: notice the details and appearance of the website, and see whether it is easy to navigate. Look also for any social media presence. Are they active or not? How about blogs? Their online presence will likely indicate how savvy they are with real estate investments.
Contacting their past clients
One of the best ways to know someone’s work ethic and character is through asking people they have worked with before, which is why recruiters will always ask for your references. This is the same with your real estate agent. Before you can make any commitments, you should first investigate your potential agent’s methods and work ethic.
You can see what an agent’s past clients have to say through their testimonials, which are usually found on their website. It’s also possible to contact them directly to ask about the real estate agent.
You’ll be shocked about how much you can discover about your potential real estate agent through their past client’s words. This way, you can get a general view of how they work and how they approach any problem that may arise.
Search for references and experience
One way of becoming an investor-savvy real estate agent is to become an investor. An agent who has experience investing in real estate will know about the different aspects of the investment. They’ll know which issues are substantive to the transaction, and therefore will be able to provide an informed input on calculating returns. Although difficult to find, these gems are a massive help when making a property investment.
Connect with an Investment Savvy Real Estate Agent
By using these handy tips, you can assess which among your list of potential agents is investor-savvy. You can easily narrow down your list until you decide which agent is best suited to your needs.
However, the easiest way to get yourself an investor-savvy real estate agent is by connecting with a collective of real estate agents such as FastExpert.com. We will help you search for the right real estate agent for your needs, all of whom are investor-savvy. Contact us to make your property investment a success.