Here’s what you need to know when selecting an agent for your investment properties.
1) Find a Realtor with Investment Property Experience
Just like any profession, before you hire someone, you should take a look at their resume and experience. A realtor who understands investment properties will have case studies and references from former clients who’ve worked with him or her in the past. Research the properties discussed in each case study to ensure the references and information offered are accurate.
2) Choose a Realtor that Knows the Area
Understanding the local area is a priceless attribute in real estate. A Realtor who has experience in the city/town will have a better understanding of the investment property’s value. Whether it’s a commercial investment or you’re taking a stab at becoming a landlord for the first time, a Realtor who knows the neighborhood should be able to help answer the following questions:
– What rent can I expect to receive?
– How likely is it to stay occupied?
– What are the resale capabilities?
3) Find a Realtor with Connections – It’s All About Who You Know
You’ve heard this phrase your entire life “It’s all about who you know.” This especially holds true in the world of real estate investments. Someone who specializes in investments will be well-versed in the community and receive opportunities before the property even hits the marketplace. The first question you should ask potential Realtor is “Do you have the right connections to help ensure this process goes smoothly?”
4) Select a Realtor that Understands ROI
Investment Realtors are always on the lookout for the best deals for their clients. Finding a good deal is great, but understanding ROI is imperative. Before you select a Realtor, make sure they understand your financial goals for the investment. These are important points to bring up to the Realtor so he can help you find the right property to achieve your goal;
– I’m investing to resell within 5 years
– The property will be used to garner additional income through lease agreements
– I plan on fixing-up the property in order to sell it and make a profit
5) Choose a Realtor that Invests in Real Estate
Once you speak to a few candidates, you will find that many investment Realtors also invest themselves. Find a Realtor who has their own investment properties because they will have first-hand experience, which means fewer mistakes and less guessing resulting in increased trust.
To learn more about how our team can help you locate investment properties or selling existing ones for the highest return on your investment, please contact us below.