EP 132: 10 Things Your Realtor Should Do For You

In this episode, I talk about the 10 things your realtor should be doing for you. I advise most beginning real estate investors to find a good realtor as soon as they launch their business. Not all realtors are created equal, and it’s important that you set your expectations right from the start. A good realtor should:

  1. send you qualified leads  (no generic lists).
  2. communicate via your preferred method – email, text, phone.
  3. give you  feedback on your rehab (based on their expertise).
  4. meet you at properties that you need to see in a timely manner.
  5. do market analysis on houses you bid on: in-depth ARV analysis.
  6. share market trends on your target market(s).
  7. offer to sign paperwork on your behalf (if desired).
  8. look at houses and offer rehab estimates if needed.
  9. always work on your behalf to give you more time if needed to evaluate a deal.
  10. introduce you to other investors/wholesalers in your area.

Again, please don’t march into your realtor’s office right off the bat and demand that they do all of these things. It is critical that you first provide value to the realtor, and then, over time, start introducing some of these concepts. Eventually, they will be doing all of them for you and you can watch your business take off!

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3 Comments

  1. Ben Vereen on 05/02/2014 at 12:32 PM

    “It is critical that you first provide value to the realtor and then, over time, start introducing some of these concepts.”

    WRONG. Realtor makes thousands and thousands off of commissions on selling property that they have no vested interest in (they aren’t investing in a property that may provide a negative return). They always get to keep their commission no matter what return you get on your investment. Therefore, THEY have to show you value first before you use them on a repeat basis. All of those things in the list besides #7 are basic stuff for realtors.

    • Mike Simmons on 05/04/2014 at 11:03 PM

      Ben, I know where you are coming from. The point I’m trying to make is that investors often will call a bunch of the realtors or just or send them all kinds of requests, asking them to do market analysis, or get into several houses a week, etc. The point being, if realtors spent a lot of time on every investor came their way asking them for things, they would never really make money. I think that it’s fair to start asking more and more of your realtor once you’ve actually done business with them. There are a lot of tire kickers out there who would have no problem wasting realtors time.

    • chandler crouch on 05/14/2014 at 12:14 AM

      Ben,
      There are crappy agents and crappy investors.
      There are extremely valuable agents and extremely valuable investors.
      Some agents actually have the ability to send you unbelievable deals. Scarcity mentality is focusing too much on how much money your agent is making.
      Its best just to always consider the other person’s needs as a matter of human decency, regardless of the situation.
      The cool thing is that doing this will actually result in additional paychecks coming your way.
      Wouldn’t you rather do business with someone that wants you to win too?
      Mike is giving good advice.
      Chandler, broker/investor

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