Special offer

We need investors, they need us too!

By
Real Estate Agent with Morris Williams Realty

 

 

Many Investors are really looking for guidance. We as Realtors have tools and training to find what the normal consumer can't. The MLS is a super tool, and it's getting much stronger all the time.

I have been working with Iinvestors now for quite a while... I quit pursuing them after becoming a Regular Realtor working floor time in a busy office. Before I knew it, I was chasing around like the rest of the crowd, becoming what Jessica Horton calls a Pop Tart Realtor. I tried being all things to all people, worked all the floor time I could get, and canvassed for FSBO's.

I did watch as one or two Realtors worked a few iinvestors on deals over and over. They cultivated relationships and looked for investment properties. Regular deals came along too, but they counted on the iinvestors for their livings. Their very stable ongoing commission driven livings...imagine having 5 - 10 more deals a year, would that make a difference!!! 

As the years have gone by, I have gone to a 90-10% profile of investor clients. That led me to the developers who need our tools, our professionalism. They need our access to the MLS. Also, after a property is purchased, they need our services to sell it for them.

Investors don't run around with signs on their backs.  Its not always obvious who an investor client will be. I learned to say, " I find deals for people to help them make back the money they lost in the stock market" That particular line (which is true) has put me in conversations with people I never saw as investors.

I know now that       investors buy homes for children. Investors look for deals to supplement thier income. They buy condo deals and dream of vacationing more often. Investors are looking to find an  experienced professional who will find them deals that fit THEIR needs, not yours. I would suggest taking commercial investment courses, learn more about cap rates, ROI, time and value of money. You also have to find properties that are not just good deals, but have enough left in them to be fixed up and sold for a profit later. Its a totally different set of math skills

So, Realtors out there who want to stay in the game longer, go back to school. Learn the math. Deal with investors. Join the local investment clubs and just listen for a while. When you are ready, you too will have a steady stream of clients who will count on you....Its worked for me..Its worked for may long time Realtors who have chosen to learn the math and have a constant flow of income, no matter the market..

   Best of luck, and take good care of your clients...Oh yeah...learn to become a single agent...My humble opinion only...but we can only serve on person at a time...Make sure your investor knows that they are your only interest!!

 

 

Mike Norvell Sr
Morris Williams Realty - Leesburg, FL
Norvell Consulting Group
I know this seems like blashphemy, but it is what keeps the cash register ringing!!
Mar 14, 2008 02:14 PM
Brian Keller
Brian Keller Realty - Newport, TN
Realtor
interesting  data
Mar 14, 2008 02:33 PM
Paul Haynes
Re/Max Integrity - Cary, NC

Mike,

I understand what you are saying here.  To find affordable new ways to grow you business can be challenge.  Take a look at mndls.com it gives you a new way to grow.

Paul

Mar 14, 2008 02:41 PM
Mark Archer
Fathom Realty - Glendale, AZ
Realtor,
Well Mike I couldn't agree more with your post. At the end of your post you hit lightlyon branding yourelf without even saying the words. It is importnt for investors to know that you know what it is you are speaking of. If you are going to work with investors it is important that you speak in a way that creates confidence. They ae usually pretty smart and they usually know how to read people. So if you want to work with investors you must know what you are talking about.....  
Mar 14, 2008 02:41 PM
Keith Perry
Coldwell Banker - Hiram, GA
REALTOR - West Metro Atlanta

Hi Mike, solid advise. Diversity is a great game plan in todays market. Right now is when investors are doing there best.

Mar 14, 2008 02:43 PM
Mike Norvell Sr
Morris Williams Realty - Leesburg, FL
Norvell Consulting Group
Brian..You bet
Mar 15, 2008 10:24 AM
Mike Norvell Sr
Morris Williams Realty - Leesburg, FL
Norvell Consulting Group

Paul........I will check it out..thanks for stopping by

Mark ..I can't emphasize enough the importance of learning how to work with investors...They are you and me, and the man driving the cab...Or the person that owns the hardware store..or the part time barber that you find out has 6 rental properties already...In this time of no retail buyers, investors are coming out of the woodwork to find real deals...Its mind bending how many people there are that own or are looking to own more Real Estate..

Mar 15, 2008 10:34 AM
Mike Norvell Sr
Morris Williams Realty - Leesburg, FL
Norvell Consulting Group

Keith,,you are so right..I went back to working with a brother of a friend over the last few days ...he is trying to get financing. looking for a deal he can get with only 5% down..Today I handed him (nice guy) off to an agent to work with that has the patience for working with the short sales process on foreclosures like he wants to buy but can't afford...I went that route with limited success and have learned my lessons...I want to work on projects that have a good chance of closing....not playing phone tag

Keith..its time to find deals in nw atlanta

Mar 15, 2008 10:44 AM