Many years ago, I heard a broker with 40 years of experience say, “Of all the licensed real estate agents in the market, only 1% of them are actually any good.” Whether that’s an accurate percentage or not, finding one that can work successfully with investors is certainly a challenge.
If you’ve had an unpleasant experience with an agent/broker, I want you to understand it doesn’t have to be like that. You just need to find a good one and work with them. I realize the term “good” is very subjective, so let’s qualify what I mean here.
How did I determine It?
I got lucky. The first real estate agent I decided to work with called me off one of my For Sale By Owner signs in front of a house I was selling. I actually had many agents call me off the sign, but this one was different, and in ten seconds, I knew I could work with her.
She immediately told me that she had a buyer for my house and asked if I would pay her a commission. I agreed and we ended up working together for several years until she left the business. She delivered value by setting expectations and stayed focused on getting deals closed. From working with her and other good real estate agents, I learned what to look for before hiring one:
- Someone who is highly motivated, who actively strives to close deals, and is full time in the business.
- Someone who is easy to work with and makes a good impression on potential buyers and sellers.
- Someone who has invaluable industry experience, as well as experienced in the area where you are buying or selling.
- Someone who is a great manager of people and communicates effectively throughout the buying and selling process.
Talk you your investor friends or others in your investor circle to get a referral. If you believe they meet the criteria mentioned, you should definitely consider hiring them. Once you find someone that works out, be sure to hang on to them for as long as possible, as they will have a positive impact on your success.