Real estate agents play a key part of your dream team that enable efficient and successful real estate investing. Some novice investors immediately shun the idea of using real estate agents to assist them with real estate investing. However, the truth is that they can provide access to great properties, help add to your real estate investing education and can be used to perform a lot of tasks that are better delegated. In short, they can actually save you a lot of valuable time that you can spend on the more important areas of real estate investing.
So how do you choose a real estate agent to help you with your real estate investing mission? Not all agents are equal and the best ones to help you flipping houses may not be the ones you think. It is important to start by interviewing several real estate agents to see who will be the best to help you flipping homes. Some Realtors are skeptical about real estate investing and flipping real estate and should be avoided. To be a valuable and positive member of your real estate investing dream team they must believe in what you are doing. You will no doubt be spending a lot of time working with the agent you choose to help you flipping homes, so you also need to make sure that your personalities are a good match for each other. The success of your real estate investing depends a lot on speed. So you must make sure that the real estate agent you work with is reliable and fast. They may be able to augment your real estate education, though they must also do what they are told, when you tell them to do it. They are working for you. Test several agents out and see who performs the best. They should also be aggressive about going after what you ask for, whether it is a price reduction, more credit for repairs or any other terms.
One of the biggest reasons that investors shy away from using Realtors is the commissions that they demand. However, when you look at the actual numbers and what you can save in time and marketing money as well as by having a professional negotiator on your side it is well worth it. Though you also ought to be able to negotiate a deal for the amount of real estate investing volume you will be doing. Times are still tight for Realtors and they ought to be happy and excited about working with an investor who may be providing them with 4 to 10 or even more deals a month. Try to negotiate a good rate for the properties that they make offers on for you, in exchange for your loyalty. Depending on the state you are flipping houses in you should also be able to have them list your properties as an ‘open listing’, which enables you to still market them by yourself and pay no commission if you find your own buyer.
