Hey, what’s up real estate addicts? …Have you ever wondered what it takes to find a real estate agent willing to work with you as an investor?
Here’s what you need to know because it is a challenge. Yes, almost all real estate agents are familiar with the buying and selling process of residential real estate for people looking to buy and hold. You know, people looking for a place to call home. The average agent understands this better than most people. But, when you get into buying properties for investment, profit, and cash flow you need a different breed of an agent.
So let’s get to the point and let you know… what you need to know …about finding a real estate agent that you can actually work with as an investor. It’s not easy because you need to find a real estate agent that is willing work for FREE and spend their money, time, and resources on you as an investor until one of your offers gets accepted …that’s the hard part. As an investor you need to negotiate harder than your average home buyer and on top of that… you want to offer the lowest dollar amount the seller will accept on any property. Of course doing this will affect an agents reputation within the real estate community because other agents get to know him or her as an agent that submits offensively low offers.
Not only are an investors offers for properties usually much lower than retail buyers, they get accepted few and far between. So, as an investor you need to find an agent willing to help you send multiple offers on dozens of properties and that demands an agent who believes you will pull the trigger when the deal is good and eventually one of your offers will stick. I’d be honest with the agent upfront and say to the agent “Hey, I want to buy a deeply discounted property, 20 -30% below market value minus repair costs, and I need to net at least $25,000 in profit at resale after all repairs, commissions, and closing costs.”.
P.S. If you learned anything about working with an agent as an investor share what you know in a comment below. Hey, better yet… if you’ve ever worked with a real estate agent at any time what was your experience? …good or bad share your experience below.