Are you looking to invest in real estate and are wondering how to select the best property professional to work with? Investors should arm themselves with these 3 questions for real estate agents before signing an agreement:
1) Are you investing in real estate for yourself?
This question may sound like it comes out of left field but working with a real estate agent who has invested in real estate themselves gives them credibility. It’s one of the most important keys in finding the right agent: someone who walks the talk. This simple pre-requisite, will allow you to filter out agents who may focus on houses that are good to live in, but would not be considered as a good investment option.
2) Will you be analyzing which deal is good and bad or just sending me a list of properties?
Many of the thousands of real estate agents in the US only arrange for their clients to receive information regarding new properties that are within a particular price range, in a certain town, or as an automated e-mail blast. People who are looking to invest in real estate need more than a checklist of properties in a particular category. Busy investors need an agent who will analyze and evaluate potential properties; keeping the specific needs of their investor clients in mind, filtering out ones that have all the characteristics they require but fail to be a good investment.
3) How do you analyze properties to determine market value?
In order to make a sensible investment, investors need to know how much to offer on a particular property regardless of the asking price. You will need a real estate agent or a broker who is analytical and understands how to read the data: one who can demonstrate how they arrived at a certain suggested offer price, despite the seller’s and the listing agents asking price. Often times the listing agent got the listing because they came in with the highest suggested List price or told the sellers what they thought they wanted to hear. You need an agent who can guide you through the maze of expectations and ultimately find you a sound and profitable investment.
I hope these three questions for real estate agents will help you get in touch with a highly skilled Realtor to help you make the best offer and get a profitable property. If your search leads you to Napa or Sonoma Valley, considering discussing your needs with me. Having been ranked in the top 1% of the 45,000 worldwide agents of NRT, parent company of Sotheby’s International Realty, I am known for being a respected expert in the sale and acquisition of listed and confidentially offered luxury homes, estates, vineyards and wineries. Just check out the Active Listings page of my site. In addition to what you see there, I have and am aware of several confidential Offerings o please contact me at 707-738-4820 or email [email protected].