A lot of agents have decided to partner up with investors - it may be a good choice for you to do so as well.
Many real estate agents have decided to partner with investors when closing deals with a buyer. Investors are skilled in the arts of persuasion and “talking numbers,” which are two of the biggest components involved in selling a home. In addition, retail buyers have also become more interested in investing – more so than they ever have been – which investors could help tremendously with. Real estate agent Amy Rasdell, who has 16 years of experience working with investors, says, “30% of consumer retail buyers are considering or would like to buy an investment property.” Due to this increase in investment interest, it wouldn’t be a bad idea for agents to partner with investors to contribute to the buying process. Before doing this, there are a couple things to keep in mind:
1. Choose an investor that can help you.
Investors typically have different niches that they specialize in. For example, some may prefer apartment buildings, while others prefer retail properties, and others prefer single-family homes. If most of your customers are looking for homes, an investor who works primarily with apartments might not be of much help to you. Do your research and find someone who could complement you (and your clients) well.
2. Create automatic email systems.
This may sound overly specific, but it is a step that you can take that’ll make a bulk of the process much easier for you. Automatic emails will allow the investor to receive information of interest very quickly, such as cap rates or income. With this information in mind, your investor will be able to help you much better, and with the automatic emails set in place, it will be much quicker to learn (and to speed up offers!)
3. Prepare for a higher rate of speed.
Investors typically work at a higher speed than agents do – it is not uncommon for an investor to make hundreds of deals a year. The quantity of deals that come through may seem daunting at first, and it is something that you should talk to your investor with beforehand, in order to get used to the way that they work. If you prepare beforehand, it won’t seem as overwhelming when the deals start rolling through.