But how can you determine whether an agent’s personality, experience, and skills match your investment plan or ambition?
There are a number of things to consider before deciding whether a real estate agent is a good choice for your real estate investment business or not. In some cases, a real estate investor might not even need a real estate agent by his/her side, and in some cases hiring a real estate agent could actually cause more harm to your investment than good.
Related: Real Estate Investment Agent: Do You Need One and Why?
So, in order to determine whether an agent is a good real estate agent for your individual investment agenda or not, these are the things that should be taken into consideration, and the importance of each will be determined by you as a prospective client.
A Good Real Estate Agent: Experience
In the real estate business, experience leads to greatness, and this applies to real estate agents and real estate investors alike. This does not necessarily mean that a good real estate agent must have a lot of experience in order to qualify as such; however, it does mean that experience is always a plus on any real estate agent’s resume.
Most real estate investors typically try to find agents with a minimum of 5-year experience. This ensures the client that the real estate agent to deal with has a good base of knowledge in the real estate world, has qualified leads, and has made a good number of real estate deals in his/her career.
It should be noted, however, that a real estate agent with less experience is not necessarily a bad real estate agent, and getting to know the agent might lead you to realize that this is the perfect match for your real estate investment goals.
There are even some advantages to hiring a less experienced real estate agent. For example, a less experienced real estate agent will have a fewer number of clients, giving him/her more time to focus on your investment and give greater attention to it, making such an agent a good choice for investors looking for real estate agents who can dedicate a great deal of time to their investment without any other distractions.
A Good Real Estate Agent: Communication
One of the major characteristics that any real estate investor should look for in a good real estate agent is the communication skills. Communication is a very important aspect of being a real estate agent, and a good real estate agent will know that. Being a real estate agent means that you will have to communicate with several property buyers and property sellers in a manner that is suitable for each particular situation, finding the balance between being friendly and being professional in order to establish yourself as a strong yet flexible agent.
If you’re a real estate investor looking for a good real estate agent, you will want to find an agent who will always find the time to communicate with you and provide you with all the information that you might need as a client. A good real estate agent will also be proactive in communicating with other property buyers, sellers, agents, and any other individuals who might play a role in a real estate investment, and he/she will always seek ways to facilitate a real estate investment deal and be on top of all processes related to it.
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A Good Real Estate Agent: Understanding the Client
Another aspect to look for in a good real estate agent is his/her ability to understand the clients and their individual needs. The real estate market offers a wide variety of investment strategies, property types, and other factors that can greatly differ from one investor to another, and a good real estate agent will be able to determine the needs and requirements of each of his/her clients in order to deliver the most suitable services to them.
Related: How to Find a Real Estate Agent for Investment Properties
Understanding the clients does not only mean understanding their investment plan only but also their individual personalities. This allows real estate agents to further understand what the clients are looking for in an investment property, what their intentions and ambitions are, and what their motive is for the purchase/sale.
This greatly affects certain aspects of a real estate investment, and a good real estate agent should realize it. For example, if you’re looking to sell an old inherited family home that you have a personal attachment to, then your agent should have knowledge of it in order to avoid selling the house to a buyer who’s planning on demolishing the real estate property and build a shopping mall in its place.
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A Good Real Estate Agent: Personal Qualities
In addition to the characteristics of a real estate agent that are more related to the clients, there are some personal qualities that could help you determine whether a real estate agent is good for your investment purposes or not. For example, a good real estate agent with develop a business plan and stick to it. This is a very basic quality that is much needed for this line of work, and a real estate agent who does not possess this quality might not be a suitable match for you.
Related: How to Become a Successful Real Estate Agent
Another personal quality of a good real estate agent is the specialty when it comes to doing the job. A good real estate agent does not necessarily have to be good at sales, and having an excellent base of knowledge that allows him/her to be a great consultant might be more suitable for you than if he/she is an aggressive seller who could be perceived as pushy.
Bottom Line
There are many qualities that make for a good real estate agent. But more often than not, these qualities are determined by the individual real estate investor and his/her investment needs. Thus, the qualities that make up a great real estate agent for one client might not even be related to what another client is looking for in an agent.
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