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REAL ESTATE So I just became a RE Agent. . .

ChrisS417

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Sep 24, 2007
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I just placed my license with a brokerage here in St. Louis that specializes in investment, mixed use, and rehab properties. I don't have the means to do my own investing at the moment so I figured this would be the next best thing to learning the business. I'm still waiting for my license to go through. Hopefully I'll get started next week.

In the mean time I wanted to ask the REIs and RE agents on the board for any advice and/or tips?

What do you expect from your agents? What do you think I could do to set myself apart from other agents? What would you like your agents to do differently?

Thanks in advance for your responses, and thanks for the existence of this board!

Chris
 

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MJ DeMarco

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First, congrats!

Second, to set yourself apart from other agents, always keep your client's needs in front of your own.

There is a post here somewhere about "Why I don't use a RE agent" - you probably could get some great tips there.
 

MJ DeMarco

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Yankees338

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Congrats! One thing I'd definitely make sure to do with my clients would be to COMMUNICATE. That seems to be one of, if not, the most important qualities of a RE Agent. As a matter of fact, that seems to be a trend in most service industries. In order to please your clients, communicate regularly and as MJ said, put their needs ahead of your own. Taking a few hundred or thousand dollars less up front to make your clients happy could earn their business again in the future which would more than make that initial loss worth it.
 

AroundTheWorld

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Be an exchangor. www.infoville.com

Go to a training deal put on by Maggie Bird from Reno, NV. She's got a web site.... has launched an education type deal in the last year. I've got her web site around here somewhere. I'll find if later and post.

She changes the lives and businesses of many realtors. Many - once they have been had a taste of her (maybe a day workshop) have actually MOVED TO RENO to work with her.

It'll change your life! :)
 

AroundTheWorld

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What I look for in a realtor.

Is he an investor? I want a realtor that actually understands how to evaluate a deal… and the best way to understand a deal is to do them yourself. Some people object to this idea… thinking that the realtor will keep all *good* deals to himself – and not ever pass along any to clients. Not so. The deal of a lifetime comes along once a week.

Does she come from a mentality of scarcity or abundance? I require an abundance mentality of all my team members…. not just my realtor. When someone believes that resources, deals, money, etc. are scarce - they will fight with you – rather than work with you.

Is he well connected in the community? Much of real estate investing is solving a problem and to solve a problem you need to know who will solve it. Does your realtor know the county sanitarian well? Does he know the contractor with the super duper machine that can scale the mountain in a single bound? If he doesn’t – does he know the person who knows who does?

Does she ask the right questions? I want her to know, my long term investment objectives, my area of comfort (do I invest only locally? regionally? nationally?), my method (fixer uppers, apartment buildings via value play, SFR’s, etc.), what stage am I in??? cashflow? capital gains?, my risk tolerance.

Is he building his business based on inventory (“sure – I can search the MLS for you…†) or is he building based on relationships ( “what are your objectives?â€) I want my realtor to understand my objectives first. The inventory is secondary.
 

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