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The Importance of Working with the Right Real Estate Agent

And why not all are created equal for investment property owners and investors.



An agent shaking hands with an investment property buyer.

Experience


The first question we need to ask when interviewing agents for an investment pruchase is about thier experience. Usually, most real esate agents have experience working with buyers, but these buyers are looking for their primary home and their motivations are vastly different than that of an investor looking for a property that has a good ROI. The decisions of those buyers are generally based on emotion as to where the decisions for investors are based on numbers. Knowing what to look for and how to calculte whether a property is a good investment takes special skills and knowledge. There have been countless times an agent that doesn't have the experience get's the investor into a property that puts them in a financial burden.


The Numbers


It's all about the numbers and good investment properties are purchased based on the numbers. The right investor agent should know this and have the tools and experience to understand the language behind the numbers and be able to run an analysis on the property to help the buyer make a good financial decision. Now, every investor will prioritize different aspects of the analysis IE cash flow, appreciation, etc but it's important the agent knows what to look for. The other important aspect of this is knowing the leasing side and how the right rental price affects the numbers. A good agent should have experience in running comps and analysis on the leasing side to help get a full picture of the overall investment.


In Conclusion


Every real estate agent is different and has experience in different areas of real estate. It's important to make sure you are working with the agent that will look out for your interest long term and not just in it for the transaction to make a quick buck. They should have the right tools and knowledge to help you make a decision based on numbers and what makes a good investment property.

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