Investing in rental property can be a complicated procedure. From finding the right property to navigating the complicated laws and policy surrounding the sale, it is important to have a knowledgeable person by your side. Working with local real estate agents is an important part of any real estate investment. Unfortunately, finding a good real estate agent is not as easy as it sounds. Here are some questions to ask real estate agents before you decide who to hire.
The first thing you want to ask a potential real estate agent is how long they have been working. While some real estate agents are very successful right away, most gain their skills after several years of on-the-job learning. You will want references from at least three of the agent’s most recent clients, though five is ideal. Do not ask for their best clients, as the most recent may have a very different story to tell.
Second, you will want to ask the real estate agent about communication. First, determine whether they work with buyers, sellers, or both. You will want to make sure the real estate agent can advocate for you, so only work with agents who are strictly for buyers or sellers, depending on your situation. Establish how the agent will contact you, how you can contact them, and which situations may require you to talk to their team of assistants.
Lastly, you will want to ask local real estate agents how well they know the neighborhoods in which you are most interested. Be sure to hire real estate agents who are willing to show you every house for sale, even if it is for sale by owner, which may pay a smaller commission.
If the answers to all of these questions are satisfactory, you will have found a great real estate agent to represent you in the home buying process. Now that you know how to find good real estate agents, you are ready to begin house hunting.
