Over on Bigger Pockets there was an article posted to real estate agents on how to work with real estate investors. And by in large I really cannot argue with too much of it. It’s critically important to work on finding the right real estate agent for real estate investors. I like to think that I am one. But I know my personality and style and target does not necessarily fit everyone else’s goals. So hop on over and take a read. As a real estate investor it will help you to know how to help your agent to help you.
But I also need to point out that when you find an agent that knows what he is talking about quit trying to abuse him. Do you know how many seminar goers I get wanting me to quit making a living and help them write 100 extremely low-ball offers so that maybe they will get one (and God willing, two) $40,000 houses? Do you know how much work that is on my part? Essentially some of you are asking real estate agents to work upwards of 60 hours in the hopes of making a commission of $768…or maybe twice that if two pop.
Would you work that hard for $768? (Based on a 3% commission paid by seller and then a 64% split with broker.) C’mon. This is supposed to be beneficial to everyone. A real estate agent that understands the numbers, the neighborhoods and the outcome is worth his weight in gold. Do you know how many retirements worth having I have helped to fund for people? And in turn I’ve made a nice living for my family. See how that is supposed to work?
If you want to be a serious real estate investor at some point you are going to need a professional realtor. Know what to ask. Know what to expect. Know how to compensate them fairly while maximizing your situation as well. Win-Win isn’t just a trite saying. It’s a profitable one, as well.