Boost Your Bottom Line With an Investor-Friendly Real Estate Agent in Panama City Beach Fl
The Panama City Beach real estate market is a perfect place for investors. There are many opportunities to purchase properties at discounted prices, with the potential for profitable returns in just a few short years. Investing in Panama City Beach real estate has never been easier than it is today!
What is an investor-friendly real estate agent?
Simply put, an investor-friendly agent is one who understands the ins and outs of investing in real estate, including the tax implications, the return on investment (ROI) calculations, and most importantly — how to find the right investment properties.
What are the benefits to working with an investor-friendly agent?
When you’re sinking your savings into a real estate investment, it’s not enough to just have a good agent in your corner, no matter how experienced and highly-recommended they come.
Help you identify profitable properties
Every agent has access to the multiple listing service (MLS), but only investor-friendly agents know how to analyze the data for the profitability of the all-important buy.
Trends in the cost of rent
For buy and hold investors, investor-friendly agents follow trends both in the home sale market and in rental markets. They’ll know what other owners are charging in monthly rent for properties similar to the house you’re looking to purchase.
Competing with traditional buyers
This insider info is important when you’re investing in a healthy real estate market where there’s plenty of properties for sale. And it’s absolutely vital when you’re searching for investment properties in a hot market.
“Investing is tricky when you’re in a seller’s market where there’s low inventory, and more buyers than sellers. When you’re bidding against buyers looking to purchase property as a primary residence, they’re willing to pay more for the property than an investor can afford to based on their ROI calculations,” says Graves.
“However, buying a property at list price isn’t necessarily a bad deal for an investor if it’s a seller’s market, because the property is appreciating. You just need an agent to look at the statistics and appreciation percentage to help you decide if it’s a smart purchase.”
It takes time to build the right team for a real estate business, and finding an investor-friendly agent is no different. Before you even start searching for the perfect Realtor, understand that the process may involve a little trial and error. However, by putting time and thought into building a relationship with a great real estate agent, you could find yourself at the hands of some excellent deals.
The best place to start when searching for an investor-friendly agent is by asking your network. Meet with other investors in your area, or ask your mentor for recommendations. More often than not, they can point you in the direction of some potential options. You can also try searching online for agents who specifically advertise working with certain types of real estate, such as commercial or multifamily properties. In some cases, you may even find agents who have not yet worked with a real estate investor but who are willing to learn the process. Keep these options open, as they may come in handy.
Once you have a few potential agents, reach out and get a feel for what working with them could be like. It can help write down the types of experience you are looking for before you meet with a prospective agent. This way, you have a better understanding of what to look out for as you talk. Additionally, remember to ask about their communication preferences, work schedule, and the markets they are most comfortable working with. While it may take more than one sit-down to find the right agent, finding the right person to add to your network could be invaluable in the long run.
To confirm whether or not you have found an investor-friendly agent, try asking yourself a series of questions:
- How punctual has the agent proven to be in the brief time you have gotten to know them?
- Does the agent respond to calls with urgency and show up on time?
- Has the agent demonstrated that they could calculate and understand market values?
- Can the agent drop what they are doing to meet at a home or show a property?
- Do they know how to write a contract and know the answers to simple real estate questions?
- Is the individual a full-time agent?
If you can answer “yes” to all of these questions about a candidate, there’s a good chance you have found an investor-friendly agent. To be clear, that doesn’t necessarily mean they are a good agent; only that they meet the basic needs of being investor-friendly. Investors will need to vet their agents more thoroughly than simply asking the above questions, but they are a good place to start. When all is said and done, an investor-friendly agent will not only know the local marketplace inside and out, but they will know how to facilitate all logistics and exercise punctuality.