The Ultimate Guide to Picking the Best Real Estate Agent
Last week, we identified how to avoid bad contractors and choose the best for your REI expert team. Now, The Investor's Edge focuses on another crucial element to the success of your flipping business: the best realtor.
There are hundreds of realtors out there for you to choose from. All of them are vying for your business, but which are the very best? You can go online and check out reviews and ratings. However, there are more subtle details which can only be discerned if you meet them in person. As you interview prospective realtors, be sure to keep the following attributes in mind. These five traits of the ideal realtor will help you rest assured that you’re working with the very best as you find, fix up and resell your REI properties.
1. They Deal in Reality
The best realtor will be upfront and honest. Period. They won’t deal in the hypothetical, they deal in reality. This means providing real numbers and presenting the clearest picture of what you can anticipate. A good realtor knows the market and will impart that knowledge to you as you move forward with your deal. They will have done their homework on the properties you look at and know the neighborhood comparables. They know the true value of homes and will advise you to keep your asking price in the margin most likely to sell your home quickly while obtaining the highest return on your investment.
2. They are On-Time and Professional
The best realtor will be professional at all times. They arrive on-time and early to appointments, unless an unforeseeable accident or otherwise critical circumstance occurs. They respect your time and make themselves as available to you as possible. A phenomenal realtor will also dress and act professionally. The very best ones will also show up prepared, having done their research on the property and able to answer your questions. Once you secure the services of a fantastic realtor, be sure to also respect their time and efforts by showing up on-time to meetings and open houses.
3. They Go Above and Beyond the Call of Duty
The very best realtors will treat you like their #1 client. They go above and beyond the call of duty for you in many ways. First, they compare your property to many other comparables in the area and estimate the value as accurately as possible. Second, they go out of their way to answer all of your questions clearly and articulate how they obtained their conclusions. Third, they aim to educate as well as buy and sell. They will help you learn the ins and outs of the real estate market so you can make the best, most informed decisions.
4. They are Excellent Communicators
Fantastic realtors are excellent communicators. First of all, they will be in touch with you consistently. Second, they will be available for you to reach them by phone and answer email queries quickly. The best realtors will also be clear in their communication. They will clearly outline expectations and prices so that you don’t get surprised by any overages in the fix-and-flip process. We’ve worked with many realtors who not only communicate well with clients during the flipping process, but they keep in touch after the property sells. These realtors receive the most referrals and repeat business.
5. They Defend and Advise
The very best realtor has your best interests at heart. They will both defend and advise you as you go through the property purchase process. Good realtors will advise you regarding the price to buy your property based on neighborhood comparables. They will then defend you as they work with the sellers to get you the absolute best price possible, thus increasing your profit margin. The best realtor will also advise you on marketing, staging and selling strategies so you can sell your property quickly and for the best price.