How to Find a Great Realtor as a Real Estate Investor

by Dave Peniuk

Not all realtors are created equally. In fact, most realtors just aren’t that good when it comes to working with real estate investors. As real estate investors we need a realtor who will:

  • Take the time to understand our parameters and WHY we have those parameters. Just because a property has a basement suite doesn’t make it an investment property.
  • Respond quickly – when we’re working on a deal we are usually moving quickly and when we need information or want to see a place we would like a call back/email returned within 24 hours. And in most cases I would prefer a realtor respond within a few hours.
  • Be willing to try different things when it comes to making offers. We rarely make a standard offer. We almost always ask for special terms like vendor financing and we ALWAYS ask for the ability to access the property several times before closing to show to tenants.
  • Be comfortable with the foreclosure process, making aggressive offers and sniffing out the real story behind the sale of a property.

So – how do you know what to look for in a good realtor and where can you find one that will work well with a real estate investor?? I created a couple of short videos as part of our 31 Real Estate Investing Video Tips. You can check those videos out right here:

And I’d love to hear from you … what makes a good realtor for you? Do you have an awesome realtor? How did you find him or her??

And if you want more awesome videos like this be sure to sign up for our Real Estate Investing Video Series. Julie and I created 31 short videos full of tips to help you be a more successful real estate investor. The videos are all 3 minutes or less and they are free!! It’s our gift to you!!! 🙂 Enjoy!!

11 Comments

Filed under investing, real estate, Realtors

11 responses to “How to Find a Great Realtor as a Real Estate Investor

  1. Hi Dave,

    I loved the videos. I know I have said this before, but you are a natural behind the camera!

    One thing that I have picked up over time with regards to selecting a Realtor, may seem a bit obvious, but it is not…

    I have learned to never trust any Realtor that lies to me. It can even be the smallest lie ever. However, with me, that is enough to tip the scale.

    I have been lied to by Realtors in the past, the lies were in an effort to help them make a sale.

    This is unfortunate and it gives a bad rap for all Realtors.

    There are a lot of amazing Realtors out there, so I would recommend sticking to the ones that are honest.

    Keep up the great work.

    Neil.

    ps: my favourite part of your video was ‘the gut check’ part! 🙂

  2. Thanks Neil! I always like to think I am a “natural” in front of the camera, but it is quite funny how many “takes” we have to do with me (vs. Julie). We will have to get the bloopers videos out in the coming weeks!

    Great point about “even the smallest lies” by a Realtor. We have, unfortunately, been exposed to realtors like that as well and we do the same…walk from them. Thankfully, there are lots of honest, hard-working realtors out there. We just need to hook-up with more of them!

    Cheers,
    Dave

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  4. Cameron

    What I ask is, “do you have an investment property”?

    How can someone who has never owned an investment property help find you one/sell you one.

    Like going to your financial advisor, and them not having their own financial plan.

    I think it is key to know what to look for, if you are working for someone.

  5. Thanks for your comment Cameron. I couldn’t agree more!

    That is almost always the first (or second) question I ask a realtor as I get to know them. And, I take it one step further and ask them “what do they look for in an investment property?” Or, “what criteria do they use to determine if it’s a good or not-so-good investment property”? Once I hear their answer, I can determine pretty quickly if they are someone I want to work with.

    Cheers

  6. I personally don’t mind using Realtors who have possibly owned rental properties in the past. To Cameron’s point, I too have much more comfort using someone who currently owns at least one rental property.

    • Very true Neil. My preference is actually working with realtors that currently have a few investment properties AND have been a full time realtor for several years.

      Cheers

  7. LindaJ

    Dave, I nearly missed this post, and that would have been such a shame. These videos are wonderful. And I have only bought a couple of rent houses myself but I can say that the realtors I used were lousy. You are so right in saying that what makes a good realtor for a home buyer isn’t the same things that makes a good realtor for an investor.

    You are really great in the videos!! Neil is right!! I’m signed up for your video series now. Looking forward to tehm.

    • Hey LindaJ,

      Thanks for the compliments and I am happy to hear you found the post informative!

      If you want to make sure you don’t miss any more of our blog posts, just sign up on the right (scroll up…waaay up). You’ll see an Email Subscription and you can enter your email to be notified whenever we publish a new blog post!

      Thanks again for stopping by!

      Cheers

  8. As a Realor, the most important point I find is to “listen”, to your clients needs & wants..But try, if possible to guide them through experience towards past winning trends. I.E a fair priced waterfront property, may well be a good bet, as I’ll you’ll always be able to sell it on..

  9. Well, it really hard to find a real realtor as a investor, however, these tips is great help to those who are looking for the the best realtor. These will serves as a guidelines for anyone for them to choose the best realtor. Always bear in mind that the best and real realtor is the one who understand you and honest with you. Right!!..

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