Real estate agents often specialize in different parts of the industry. For example, some agents work solely with first-time home buyers while others focus on investment properties. Those that specialize in working with investors can be much more valuable to these clients as they know what type of property will give the client the best return on their investment.
Investing in real estate is a lucrative business, but it can be quite the time-consuming undertaking. Investors typically want to make a quick turnaround from buying the property to selling it, so they need an agent who understands their needs. Those that are investor-friendly will understand how to assess the investment potential of a property, as well as how to market these properties to their client base.
One of the best ways to find an investor-friendly real estate agent is to ask for referrals from other investors in your network. You may even want to join a real estate investment meetup group so that you can ask other members for recommendations of agent who has worked with them in the past. It’s also a good idea to make sure that any agent you’re considering has experience in working with investors in the past as it will show that they have the skills necessary to meet your investment goals.
Another way to find an investor-friendly agent is to look for one who has earned the Certified Investor Real Estate Specialist (CIRS) designation. These are agents that have been trained in investment strategies, such as 1031 exchanges and cash flow analysis. They’re also familiar with investment jargon, including cap rate, gross rental yield, and internal rate of return.
An additional benefit of hiring an agent that works with investors is that they’re likely to have access to off-market properties that aren’t listed on the MLS. These types of properties can provide investors with a great deal of profit and help them grow their portfolio quickly.
It’s important to communicate with your investor-friendly real estate agent regularly so that they understand exactly what kind of properties you’re looking for. This helps them keep in mind when they see new listings and can ensure that they don’t waste your time by showing you homes that won’t meet your criteria. You should also let them know if you’ll be attending all property visits and inspections or if you’ll need to be out of town for a certain amount of time.
Whether you’re a seasoned investor or just getting started, it’s beneficial to work with an agent who is willing to do whatever it takes to meet your investment goals. By letting your agent know what your objectives are, you can build a strong partnership that will last for years to come. This article was written by Roofstock. This content is for general information only and is not intended to replace financial, tax, or legal advice from a qualified professional. Please consult with your own advisors before making any investment decisions.
