I’m excited because EXIT Realty, which I am affiliated with, is taking a proactive approach with the trend towards investor purchases in real estate. With so many great deals on the market, we have seen a steep increase in first time investors. This is normally people who want to purchase a home that needs varying degrees of mostly cosmetic repairs and then turn around and rent the home. Even larger investors are still trying to tap into the rental market after they renovate. Flipping houses and selling them after the rehab is not quite as attractive today with the low housing prices. Exit has an excellent website, www.exitownamerica.com that all investors need to visit and check out. It will provide them with a lot of valuable information. We also have the worksheets available now to plug-in a house price and put in other parameters and it gives us a cash flow analysis. It’s a great tool that we can play with to predict the outcome depending upon various factors, such as purchase price, depreciation, rental price, etc. It is just another exciting tool that EXIT is providing to its agents and clients to improve their real estate experience. Contact me if you have any questions about the program.
As we have more short sales, REO’s and Foreclosures come on the market (sadly), there will be more of a need for Realtors to understand the process to market and close the deal on these properties. The process from offer to close is very different from a traditional home buying process and can be different from case to case. At this point, I am trying to learn everything that I can about the process so that I can provide the best service to my investor clients. I would really like to hear from some investors that have been in the business for a while about what they need and expect from a realtor. Also, I would like to hear from other realtors that are specializing in this field with any advice that they might have. I am just trying to position myself to provide the best service that I can to my investor clients. Any response and suggestions would be greatly appreciated. Thank you in advance.
The relationship between an investor and a real estate broker is different from the usual relationship that an agent has with his client. Personally, I would like to work with more investors. I think that we will see this area continue to expand and I would like to be part of it in the future. Let me tell you how I see my relationship with an investor developing. The relationship must be and can be mutually beneficial. I am eager to learn and if you take the time to explain to me exactly what you want, I will work very hard for you to deliver the properties that you want. In other words, you need to train me. With that being said, do not attempt to take advantage of me. I expect to continuously look for properties for you. I expect to occasionally show you a house. I expect to submit a lot of offers for you that will be low, therefore only a small percentage will be accepted. All of that is the name of the game. But, respect my time, as I respect yours. Do not expect me to show you or your representative houses every day, just for the heck of it. I don’t need to fully research each prospect, when you know that you will probably not be interested in it. It may take a little time for me to learn how you work and what you are looking for, but I have access to large databases, I love what I do and I want to learn. Myself, I look forward to establishing some great relationships with some of our investors here in the Fayetteville, NC area. Another day, people to meet and things to learn.