The other day, we got a call from a niece who wants to get started in real estate investing. She’s not a Realtor® and is having trouble finding one who’s willing to help her with some of the information gathering. I had to remind her that they’re living in a small(er) city and there might simply not be very many active investors there for the realtors to be exposed to.
Why should Realtors work with investors?
A new Realtor should appreciate the chance to practice drawing up CMAs. That’s what we need in order to determine an accurate ARV, and that’s what realtors do on a daily basis. An experienced agent should have relationships with investors, because they’re going to be going on listing appointments for houses that simply can’t be put on the MLS (Multiple Listing Service). Instead of just walking away from these owners, a Realtor who knows investors could earn a referral fee as well as provide these people with other routes to getting their houses sold. Plus, once an investor rehabs a property, they’re more likely to list it with a Realtor they already know. Sometimes a Realtor can get both sides of the transaction if they bring the buyer or sell the property to an investor on their own buyers’ list.
If you’re a Realtor reading this, here are a couple of articles that might be of interest:
- Working with the Investor Client: 10 Tips for Success
- Real Estate Agents and Investors: A Win-Win Relationship