Real estate brokers are the biggest asset to small investors because brokers handle more real estate than the individual real estate investor could ever handle. As said, however, real estate agents usually work for the seller so tend to act directly opposite the buyer. In addition, their commission depends on the price they can sell the property, the higher the price they sell, the more they can earn.
This article confirms this and lists four things you can do to get the most of the real estate agents you meet when shopping for your next real estate investment agreement.
Tip 1 Use their knowledge
Most people know that some places have higher rental rates than other similar real estate in the same class of real estate. If you are new to an area, you want to master the vast knowledge of the real estate agents local knowledge. Ask him which areas command a better rental and why. Then ask him to show you these qualities. That way, you get a better return on investment than show you the qualities that he wants you to see.
Choosing a property in a good area is good because it allows you to get maximum time when the economy turns. Let the real estate agent know that you are a committed property investor and when he knows you can be a potential buyer, he will let you know about some new real estate deals that comes his way of interesting you.
Tip 2 Go early to figure out the area
This is a simple tip that most people seem to miss when looking for a real estate property. If you are the potential buyer, spend time going to the property in question earlier than the mentioned time and check it out. You want to spend time observing the neighborhood and talking to the neighbors so that you can find out everything you can about the neighborhood before talking to the real estate agent who would try to paint a glowing image of the area. Watch out for things like crime issues, bad neighbors and other things that can turn potential tenants.
For real estate investment in commercial real estate, you may want to go there one day before to scout the area to determine walkthrough traffic. The higher the transit traffic, the higher your potential rent will be. Its not good to buy a commercial property in an area that has no visitors because your rental rate would be very low.
Tip 3 Compare stories with other agents
Once you have thought about the type of real estate investment property you are interested in and what area you want, you want to meet with several real estate agents to learn more about the potential area you acquire property in. Since real estate agents compete with each other so that you can find out the disadvantage of another agents proposed property at no cost at all.
In addition to learning the disadvantage of your potential property investment, some of these real estate agents can provide you with valuable information that you can use to tell your potential tenants to rent the property, such as proximity to bus stations, subway to the metro, low crime rates, and secure parking.
Tip 4 Get an agent who is qualified and in a medium to a large agency
In general, beginners should contact a permanent established real estate agent who is very familiar with the area you intend to invest in. The reason is that you want an agent who knows this area very well and knows what properties are for sale and a bargain . The agent will also be able to tell you which areas are good for rental purposes and these areas should be the areas for which you will spend your energy.
Another thing to note is that your agent should be a big agency agency to access a large database of real estate for sale and rental. This would facilitate your search for high rent that provides properties through the agent. A medium sized real estate company would also not be folded so easily and leave you at the edge while youre in the middle of a real estate business.
In summary, realtors are a useful part of the real estate investment process, but if you know mentally what you want, you can benefit from their annual industry knowledge. Efficient real estate investment requires training and massive action on your part.