Real estate investing is a field where one keeps learning all his life. This is because real estate world remains in a state of flux and every new property has unique features and circumstances to teach the investor new things about investing. Of course, you become clever with experience and learn to overcome obstacles in your path. You also learn how to achieve your goals and long-term objective with minimum of effort. But when you are starting out, you need help and guidance of experienced realtors. What is one most important quality that a realtor must have to be on your side when you are stepping into the field of real estate investing? Let us find out.
Realtor who is a teacher by heart
You need a teacher who can teach you about different aspects of real estate investing. The realtor you shortlist to help you with your real estate endeavor should be a teacher and also a guide and mentor. In fact, the services of a realtor who can understand your aptitude as well as your goals can be extremely helpful. Such a realtor is an invaluable asset for you as you learn how to wade through the murky waters of the world of real estate.
He should identify with your goals and personality
Ask any successful investor and he will tell you that without the help and support of an experienced realtor, he would not be what he is today. However, you cannot take a realtor on face value. All realtors make tall promises and they also appear to be the same. But you must understand that not all realtors are created equal. If you have a realtor who is knowledgeable and understands your goals and aptitude it is like having a gold mine with you.
As a beginner, you need someone who can teach you the ins and outs of investing. But more importantly, he should understand you as a person so that he can identify with your goals and method of working. You need someone who can hold your hand like a parent and show you the way to success.
This is not an easy thing for most realtors. They have been trained to think in terms of loss and profit and their own commission. You will come across realtors who are experts in retail real estate while still others will be masters in fixing and flipping. Working with a realtor who has a specialization in an area is like limiting your own growth prospects.
Someone who you are comfortable working with
Choose a realtor who does not impose his own knowledge upon you. Instead, find someone who first understands your style of working and aptitude. You should feel free to ask any questions to him as you want to clear your doubts. Once the realtor is clear on your goals and objectives, he should chalk out a short term and long-term plan for you. The realtor you work with should have deep knowledge about real estate investing. He should make you understand pros and cons of every step you can take when approaching various kinds of properties.
Now that you know what kind of a realtor you want to work with, find someone who has been in this field for a long time. In addition to experience, you also need someone who has a proven track record of high percentage of success. It is better to find a realtor having interest in same kind of properties as you. Make sure you do not work with a greedy realtor who is always thinking about his commissions. Also, stay clear of realtors who push you in a direction.
If you’d like to talk more about property management, or you need help with Everest Property Management, please contact us at Everest Realty.
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As a top producing Realtor and Property Manager; Terry specializes in sales, extensive construction homes, rentals, REO’s, short sales, and all aspects of Real Estate. After graduating the University of Michigan with a master in MBA, Terry continued his endeavor and now has over 15+ years of experience in the Real Estate world. If there is anything that has to do with Real Estate and sales, you can always be sure of Terry to provide important, specialized knowledge.
