As a real estate investor, you need a multitude of resources at your disposal that contribute to your success. Simply buying a home below market value and renovating it is not enough to be competitive in a highly competitive industry. Having a wealth of resources at your disposal gives you a competitive edge over other real estate Investors. A highly-skilled and knowledgeable real estate agent should be the main resource you need for your real estate investment business. Not only are they able to help you sell your property after you’ve renovated it, they can also be instrumental in helping you find properties below market value that you can renovate for resale. An efficient real estate agent has an extensive knowledge of the market and knows the future trends of neighborhoods within a community. Their services can be beneficial in helping you analyze comparable sales in the area which could help maximize your profits.
Real estate agents as a source for wholesale properties.
As mentioned earlier, agents are a great resource for helping real Estate investors find properties below market value. Real estate agents have access to foreclosed properties that are listed by the banks. Often, they’re able to get information about these properties before they are made available to the general public. This type of service can be invaluable to you as a real estate investor because it gives you the opportunity to get a jump on the competition. Finding the right wholesale property in a community that is trending higher in values is the ultimate deal for any real estate investor. A real estate agent can help you put together an offer to the bank to get you started on your renovation project
A knowledgeable real estate agent is priceless.
Having a real estate agent who knows the area is a valuable resource for any real estate investor or potential home buyer. Even if you are a home buyer, no one wants to purchase a home above market value. Everyone wants a good deal. As a real estate investor, your business is predicated on buying real estate properties as low as possible, renovating them and flipping them to an end home buyer for profit. A knowledgeable real estate agent can get you pertinent information that helps you make an initial decision to buy a particular property. It is often said in the real estate industry that you make your money when you buy your property not when you sell it. This means that when you buy the property correctly, you’re able to realize larger profits on the back end.
You need a real estate agent who’s a marketing machine.
Simply placing your newly renovated property in the MLS system is not a sufficient marketing campaign. You need a real estate agent who’s going to be a bulldog in the real estate industry and get your property in front of the right home buyers. This could possibly include marketing your property to potential home buyers who are out of state. One effective way to properly market an investment property is to stage it and create a marketing brochure for that property. This not only displays the exterior of the property, it also gives photographs of the interior of the property and how it can be properly designed for a potential home buyer. Playing on a home buyers psychology is an excellent way to get them interested in looking at your property. By staging the property with beautifully decorated items, this is an effective way to peak their interest for your property.
Real Estate agents should be a wealth of resources.
Usually a seasoned real estate investor has access to numerous contractors. Often the season investors become overwhelmed as they have multiple projects running at the same time. In such cases, it is always helpful to have a real estate agent who has a resource of additional contractors that a real estate investor can use in the event they’ve overbooked their current contract or resources. Other resources that an efficient real estate agent should have access to are home staging services, a list of home inspectors and mortgage companies. There are times when potential home buyers take a look at properties and they are not pre-qualified with a mortgage company. In such events, it is helpful to have a real estate agent who was already partnered with mortgage companies to make the process more seamless for the potential home buyers.
A real estate agent who is a problem solver.
If your real estate agent has the right resources, they’re halfway in the fight to be a problem solving expert in your corner. You need someone that’s going to solve your problems and not add to your problems. A real estate agent who is well-connected in the community and has an extensive list of resources is an individual who has the characteristics of being the problem solver you need. For example, if you have a situation where a home buyer is needing a last-minute inspection for a home, a real estate agent should be there to help guide you through that process. After all, once they make the sale, they get their commission as well. You need someone who’s going to be willing to work hard for that commission.
A real estate agent who stays in touch.
You don’t need a real estate agent who’s simply going to list your newly renovated property on the MLS system and then disappear in the wind. You need an agent who is going to advise you on the recommended price point for your home, any potential offers and any feedback from potential buyers. Anything less than this is unacceptable. A real estate agent should be in touch with you to keep you updated every step of the way throughout the home-buying process. If there’s some last-minute changes that need to be made to the initial contract, this is the responsibility of the real estate agent to make you aware of those changes and why the changes have taken place.
You need a real estate agent who is a bulldog.
Let’s face it, the more you sell your property for, the more you make. The reality for a real estate agent is the more they price the property for, the more they make. It is essential to have a real estate agent who knows the market and is willing to ask for top dollar for a property that is properly renovated. If you have hardwood floors with granite countertops and custom-made cabinetry, you want a price point that is going to reflect the top of the line renovations you’ve made to the property. Any real estate agent worth their weight in salt should understand this and should not be afraid to ask for an amount that is appropriate for the level of renovations.
A real estate agent can be a benefit or hindrance to your real estate investment business. When selecting a real estate agent to assist you in finding or selling your properties, it is important to select someone who is knowledgeable, professional and willing to negotiate a great price for your renovated properties. There’s nothing more frustrating than to have an real estate agent who is passive and allows your property to sit in the MLS system with no activity. Selecting a real estate agent can be a delicate process. You want to make sure you have someone that is professional and someone you can establish a good rapport with. Regardless of how you choose to select your real estate agent, it is important to have someone who has a sound understanding of the local real estate market.
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