Ways to find legit real estate agents, narrow them down, and become their favorite customer
There are tons of real estate companies out there from a small one in your town to a big public corporation.
It is difficult to choose the best one for you from a bunch of selection like that.
But this is the first important step towards successful Real Estate Investment.
◆Ways to find legit RE agents
Make inquiry through the internet or call the number on paper ads and actually visit the company.
You should email or call the real estate agent that you find on the internet or paper ads.
Try to set up a meeting with them and actually go visit to see if they can be your best partner.
Have your investment mentors introduce a good agent.
One of the ways to get to know a great real estate agent is to ask successful investors around you to introduce one to you. They have their own unique network and you should take advantage of it.
Let’s join seminars that real estate companies host. Joining seminars allows them to know more about your personal situation so that they will have better understanding of what kind of property information to show to you.
You can also get to see how decent this agent is and judge if it’s worth to do business with from now on.
◆Ways to narrow down selection of agents
If responses from a RE agent are too slow, this company may have some kind of issues internally.
Choose the one that gives you a fast response in email or phone calls.
No aggressive peddling
If the agent has great properties in stock, they can sell anyways so the agent wouldn’t try to sell aggressively.
Real estate companies can’t make money unless sales contracts are made. Therefore they try to move things forward smoothly. However, they prefer customers who purchase many properties over the years. Based on your investment experience and plans, they will give you an advice honestly not to purchase a specific property if it’s not a good investment for you.
Asking your personal information
If a real estate agent asks your personal information, that’s a good sign to indicate that this company is legit because they are just trying to match the best property and recommend it to you. If they think you are able to purchase properties, they will prioritize sending you great information before anyone else.
◆Ways to become RE agents’ favorite
Disclose your personal information
Not telling your personal information to real estate agent is almost equivalent to saying “I don’t trust you”.
They won’t give good property information to person like that. Firstly you should give out your personal information such as your assets, income, etc to the company you trust without holding back.
Highlight that you are a legit customer with money
Just wanting or wishing to own a real estate property is not going to get the deal done. You may need to show to the agent things like how much you have or how much your credit line is to let them know that you are capable to buy a property as long as criteria matches.
Act quickly when you receive a property recommendation from your trusted RE agent. Turn in a LOI or visit the property if the property seems interesting. Even if you don’t like the building and want to turn down the offer, respond as soon as possible. That way the agent can introduce it to other clients. They like fast-response-clients.
Avoid being too picky
It’s understandable that you become so careful choosing the right property. However a real estate company doesn’t like the customer who is too picky about everything. Good property information does not always have all the details lined up for the first time yet there are many investors who jump on it and make a contract right then. Real estate companies tend to prefer those kind of customers. Also too-picky-customers are thought to be too picky after the sales.
Avoid asking too much for something
For example a brand new building 5 mins from station that yields more than 20% on return with all the rooms filled that can be financed with over loan does NOT exist.
Such as this kind of absurd request would turn off your agents and make them think you are not a serious customer.
Unfortunately you are not the only customer your real estate agents have. Their new clients communicate with them back and force every day to ask for a good deal on properties. They may forget about you if you don’t call or email them so often.
Therefore, try to have some communication once a month or so to remind them of you.
Do NOT cheat on your agent
There is only a slight chance that a real estate company recommend properties to those who have many relationships with a whole bunch of different agents. Because these kind of customers have higher chance that they purchase somewhere else.
Also companies do not like disclosing too much confidential property information to anyone because other RE companies may come across.
It is better to deal with a couple of real estate agents at most and create a deep relationship rather than dealing with many companies frankly.
Even though you are a “customer”, RE agent do not always like a person who is oppressive.
They are also a human so the truth is they don’t want to deal with these kind of customers.
Make a actual purchase history
As a real estate company, a customer who actually has purchased from them before is their real customer in a true sense.
They truly hope that their customers become richer. Knowing the purchase history and what kind of properties customers have bought, the agent easily understands what to recommend next time.
- Sale by Private Contract & Sale by Auction
- Price Limit Order
- Settlement & Ownership Transfer
- Ways to Search for Properties
- Documents & Points to check
- Ways to find legit real estate agents, narrow them down, and become their favorite customer
- Gross Yield & Net Yield
- Letter of Intent
- Important Description & Sales Contract