Contrary to what many of us believe, real estate agents are relevant and important for this industry. They offer essential services that are necessary for bridging the gap between buyers and sellers. In this post, we will talk about 5 tips that matter for selecting a realtor for investment needs.
- Make a shortlist. You can talk to friends and industry colleague to find the list of best real estate agents in your area. When it comes to selecting an investor savvy realtor, references can be quite handy. An alternative idea is to look online. Since most agents have their own websites to showcase their available listings, you can get a lot of relevant details.
- Decide your financial goals. Real estate investments are subject to market risks, so you have to consider your short and long-term goals. For example, if you are buying a villa, do you want to rent it out or wish to sell it within a year for some extra money? Are you trying to maximize your rental income? Do you wish to buy the house for someone else? Long before you talk to a realtor, think about these aspects.
- Ask questions. Any random realtor can claim great things about his work. It’s important to know his background and experience in detail, and for that, you must ask relevant questions. What’s your average number of clients per month? What is the general ratio of buyers to sellers? How many deals do you complete each month? Do you have time manage my requirements and portfolio?
- Seek references. When it comes to knowing the expertise of a realtor, you must ask for client references. Real estate agents don’t mind sharing details of their big deals and clients, because it helps in establishing their reputation.
- Know your options. Considering your budget and financial goals, a realtor should be able to offer enough options in the area. Try to know more about their current listings and the extent to which they can help with the negotiations. If an agent is experienced with short sale, it’s an added advantage in the long run.
Finally, do consider the financial aspects of such deals. As an investor, you need to be cautious about working with realtors, especially the new ones. This is one of the few industries, where experience matters more than anything else, and you need an agent who is well versed with the local areas and can even offer options in nearby regions. If required, they must be capable of handling your portfolio and should be available for further communication. The response and overall assistance offered by the realtor should be considered. You need someone who can answer on your calls on time or at least ensures regular email communication. For more details, check online now and call up a few agents to take an appointment. As required, you can take the discussions further.