This week I wanted to talk about my real estate agent Shannon Guetter. Yes, I am a real estate agent, and I also work with a real estate agent. Let me explain…
A lot of people (including myself at one point) think that a real estate investor is a lone wolf. One that finds deals by hitting the phones, driving for dollars, or sending out direct mail. While those methods certainly will work, most of my deals have been sourced by other people. When I talk to some investors, they don’t want to work with agents. Especially not in an exclusive relationship. I think that’s the wrong move.
In his book “The Millionaire Real Estate Investor”, Gary Keller talks about the different “circles” an investor should have. Your circles provide you with mentorship, advice, services, and dealflow. In the “support” circle, a successful investor should have one or more real estate agents.
A local real estate agent that is an expert in their area will have knowledge of the market and off market deals for you. When we went looking last Friday, we went to three properties in Redwood Falls that were not listed. One of which we’re moving forward with to possibly purchase. Since she found that deal, I’m going to make sure Shannon gets paid for her work with a commission or finder’s fee. It’s a win win for both of us.
How do you know an agent is an expert in the area? I met Shannon when I toured one of her commercial listings (which I eventually bought). I noticed she had most of the commercial listings in town. She also seemed to be well connected, and she is the head of the local downtown revival group Discover Downtown. So I knew she had the scoop on all the good deals.
You should also choose an agent who knows the subject matter of investing…one who hopefully invests themselves.
If I use an agent for my investment transactions, you definitely need to be doing the same. If you’re an investor looking for an experienced agent in investment properties, let’s chat!