Is A Real Estate Agent Necessary For A Wining Investment Team?
The simple answer to this question is a resounding yes! Your team will be weak without a Calgaryreal estate agent. It is extremely important to find an agent who has a sound understanding of investments. You must ensure that you see eye to eye with the agent you select and that he understands the objectives you are setting out to achieve as a team.
Here are some important aspects you must consider when selecting a good agent to work with.
The training the agent has received
The training that a real estate agent receives in school teaches him how to simply sell a house on behalf of a client. Most of the training instills the ability to make tough negotitiations and sure enough, this is exactly how they operate. If you are making investments, however, check on the experience that the agent has and any up-to-date training. Real estate is an ever-changing industry and when you are investing you’ll need someone that has kept up with all of the recent changes.
The agent’s risk strategies
Some agents are extremely averse to taking any kind of risks and want to play it safe to avoid any losses. This is a good quality to protect their clients from losses, but it is serious lacking in the investment mindset that takes risks and thinks creatively. An agent that is not willing to take a risk thinks about protecting the interests of those he represents while an investor thinks as an entrepreneur, constantly looking for opportunities to make profit. A real estate agent must be able to think like an investor.
The agent’s duties
An investor must have a clear understanding of what an agent brings to the team without having unrealistic expectations about what the agent can and should deliver. An investor should avoid the common mistake of delegating duties to the agent that are way over his head such as performing an indepth market analysis. The investor has the responsibility to know investment facts and should not expect such information to come from the agent.
The pros of using an agent
There are 2 major pros that an agent brings to the team. The first one is access to the listing service. About 75% of all real estate is transacted through these listings. The second thing is the real estateagent can take up tasks that relate to his training and skills such as negotiating on your behalf to get the best deal.
Cheap is expensive
Just because an agent charges the lowest commission does not mean he is the best agent. The commission charged should not be the only criteria you use when selecting an agent. Such a consideration can attract less experienced agents to join your team. Eventually this will lose you money. Higher charges often go hand in hand with quality and top notch service. Pay more and attract competent agents that will deliver. The results will be obvious.
A wise investor understands the need for a qualified real estateagent on his team. Take your time to look for a good agent and watch this translate into increased profits.