Whether you are a new investor learning how to get into the real estate market or a seasoned real estate investor investing in multiple markets, finding an agent willing and able to help you with your investments can be critical to your success!
However, most real estate agents are licensed in only one state. While they provide valuable insight into their local markets and act as a sounding board for ideas and suggestions when choosing a market, they can’t work on your behalf in multiple markets. That’s why investors must know how to find the best real estate agents in every investment market! Keep reading to learn more.
Ask Plenty of Questions
The right real estate agent is a critical player on your real estate investing team, but serious investors know that just one agent can’t do it all when buying properties in multiple markets.
When looking for a real estate agent in a new market, make sure you ask the right questions. This will help you find an agent who knows the local market and can help you meet your investment goals. Here are some questions to consider when searching for a new out-of-state real estate agent.
Who Do They Work With?
When looking to buy or sell a property in a different state, choose local partners that have proven success with other investors in the area. When choosing an agent, ask about their experience and who they work with.
If an agent is new to the market, they may not have many resources at their disposal or enough experience. Look for agents who can provide references of happy investors they’ve served in the market. In addition, if their client list includes well-known investors, you’re probably considering a reputable agent!
How Many Properties Have They Helped Investors Buy or Sell?
Looking at an agent’s numbers can give you an idea of how experienced and knowledgeable they are and how that translates into successful deals for investors. An agent that hasn’t helped investors close many sales probably can’t deliver the service you need to build a successful real estate portfolio in that market.
Do They Specialize in Investment Properties?
An agent that helps buyers find primary residences may not have the experience you need to target investment properties. Make sure your real estate agent understands what investors need in a profitable property and can help you identify good investments rather than homes ideal for a primary residence.
Use Networking for Referrals and References
One of the most effective ways to find the best agent in the area is through word of mouth and networking. Your industry peers and mentors can provide referrals and references to help guide you to the right real estate agent in a market.
In addition, referrals from your network can be more reliable than checking online reviews from a Google search.
Make Sure They Understand Your Goals
When looking for an agent to help you buy or sell a property in a different state, it is crucial to be transparent about your goals and concerns. Ideally, an agent will be knowledgeable about the market and provide resources and tips for real estate investing to make the process as smooth as possible.
The right agent listens to your goals, then delivers properties and negotiating experience to boost your success in the market!
Be Open Up Different Markets and Rules
Real estate agents work differently in different areas depending on the state and licensing requirements. Talk openly with potential agents about rules or specific processes that apply to a market and how they can you navigate these areas to buy, sell, and rent investment properties successfully.
The best real estate agents deliver a seamless experience and guide you through nuances that can impact your returns depending on the location of a property.
Be Patient!
Remember that the first agent you try might not be the ideal agent for your goals or long-term partnership. Be prepared for it to take a few tries in some markets to find the ideal expert to support your success in a way that works best for you. Waiting for the right agent to come will help your long-term success!
Privy Helps Investors Find Real Estate Investments in Multiple Markets!
Finding the best agent in real estate markets can be a challenge without the right local partnerships. Take the time to do your research and find an agent who is experienced in the markets you prefer when building your real estate investment portfolio!
When looking for an investment property, a real estate investor needs access to multiple markets. By providing insights into potential rental properties or fix-and-flip opportunities in various markets, Privy makes it easy for real estate investors to find the perfect property in cities throughout the country. Reach out to learn more about how Privy has the tools and resources to help investors find the best real estate investing deals!
With a free download of "Assemble Your Real Estate Investing Team: A Worksheet!" you can learn more about putting together your dream team for success!
