Why Realtors Make Good Team Members
If you want to make the most money on your real estate deals, then you need to create a solid team.
And some excellent members to add to your team are investor-friendly realtors.
But, why do realtors make such great team members for real estate investors?
Well, first of all, they have a constant pulse on the market.
They know what’s happening, where it’s happening, and how it’s happening.
Second, discounted properties also tend to fall into their laps, and they can pass those properties on to you.
So, what type of realtor should you work with?
Well, they should do more than put you on their MLS drip. Any realtor can do this, and nowadays, many of the properties on the MLS get listed on sites like Redfin and Zillow.
So, getting on an MLS drip won’t help investors much…especially when we’re looking for under-market properties. And under-market properties aren’t found on the MLS often. The right kind of realtor will have a lot more hustle. They’ll actually search for under market properties and then go through the numbers to decide it’s worth investing in before they present it to you.
Better yet, investor-friendly realtors connect with professionals in various industries, like bankruptcy attorneys. That way, when investment properties pop up, they’ll be one of the first to know about it. And then tell you about it, rather than making you wait to—hopefully—see it on the MLS weeks or months later.
Most importantly, the right realtor will LOVE working with investors.
Unfortunately, about 95% of the realtors do NOT like working with investors. Or, if they do, it’s part-time and not a high priority for them. These are usually more experienced realtors who have an established client list. They don’t really need your business to make money. They already have a system in place.
But, when you find realtors who are investor-friendly, you’ll know. You won’t be a side gig or a part-time project for them. They’ll be hungry to help you find investment properties and make a lot of money.
Many times, these are newer agents who are willing to be trained. They’ll be the ones looking for business and finding ways to make money with you, not off of you. So, rather than selling 3-5 properties a year, they want to sell an investment property every month.
Now, is it a bad idea to team up with both experienced and new realtors?
Not at all.
In fact, it’s a great idea to work with multiple realtors, because they all have different resources, experiences, and ideas. Plus, if one moves away or quits their job, you don’t need to worry about losing your main resource for finding properties. You’ll have others to fill in the gap.
If you want to create a smooth, easy system with your investment properties, then adding a realtor or two…or three…to your team is an excellent idea. Just make sure they like working with investors and are hungry to make money. The hungrier, the better for both of you!