You gain plenty of benefits when you become the go-to agent for real estate investors. With a few investors using you exclusively, you will gain regular clients looking to buy and sell often.
While it’s always a good idea to have a variety of clients, real estate investors can provide a great choice with your client list. Sometimes, they will even buy multiple homes in the same month and could be paying cash.
If you want to become a real estate investor’s go-to agent, it’s time to figure out how you can land this gig. Here are a few tips to help you become the go-to agent for investors in your area.
7 Tips to Become the Go-To Agent for Investors
1. Understand How Investors Speak
Unlike a regular homebuyer, investors aren’t going to be as worried about the features of the home. Investors speak in terms, such as cap rates, ROI, 1031 exchanges, net present value, and other investing terms.
Learn to speak like an investor so you can provide correct answers to the questions of an investor. When they call about a property, you want to know what to expect and have an understanding of what they are talking about.
2. Do the Math for Them
Investors love it when agents can help make their job easier. Doing the math for investors will help them and help you. It will give you the answers they need and when you do it correctly, they will trust you to help them again with the next deal.
3. Understand the Goals of Investors
Most investors have one simple goal, which is to make money. There are different types of investors, however. Some will buy homes to rent them out, while others are looking for fixer-uppers to flip for a profit. Make sure you understand the goals of the investors.
4. Figure Out the Timeline of Your Real Estate Investors
Understanding the timeline of your real estate investors makes a big difference. Some investors use a long-term approach looking to hold onto a property for several years, while others want to fix and flip. If you can figure out the timeline of your investors, you can better serve them.
5. Know the Investor Pain Points
Are you working with investors that need suggestions to provide a good handyman for tenants? Do you work with investors in need of good contractors for remodeling?
When you have the ability to address the pain points of investors with referrals for other services, you can become the go-to agent for real estate investors. By providing more value, they will come back to you when it’s time for the next transaction.
6. Become an Insider
When you want to work with investors, you need to become an insider in their world. Learn as much as you can about investing in real estate and you will discover some of the ways you can better serve real estate investors.
As an insider, you’ll be able to speak like an investor and put together deals investors will find attractive. You can specialize in fix and flips, rentals, or any other type of real estate investing, or learn about all the different types.
The hardest part about becoming the go-to agent for real estate investors is finding investors. With the right networking events, you can find investors to work with you. There are plenty of investors out there and networking will help you find those looking for a real estate agent to help them.
If you become good at working with real estate investors, you’ll be able to call them up when you have a property they might be interested in, instead of the other way around. You can even do this now as a cold-calling strategy to find new investors to work with.
Working with real estate investors comes with a different set of challenges. If you use these tips you can become the go-to agent for real estate investors in your area.