Work With The Right Agent

If you’re considering the purchase of real estate investment property, it’s vital that you work with an agent who can help you make the right decisions. One of the biggest mistakes a first-time investor could make is to work with a real estate agent who deals primarily in residential sales and purchases. The sale of real estate investment property just isn’t the same as the sale of a home, even if the appear similar on the surface. You will need someone who understands investing from the ground up, and not someone who is just starting to dabble in those sales, too.

It might seem like a comforting thought that you and your real estate agent are learning everything together as you go, but it’s actually the fastest way to start losing money right away. After all, if you are new at real estate investing and your agent is new at real estate investing, which one of you will notice that the wording in the contract favors the seller more than the buyer? Which one of you will be able to recognize that the percentages discussed aren’t actually conducive to profits? You have to forego the warm, fuzzy feelings caused by working with a green agent and choose the real estate agent that knows the best way to bring you profits.

When you choose a great agent, you can even count on him or her to be a mentor throughout the process. If your agent has years of experience with property investment, then you can ask questions about property management and being a landlord before you actually take the plunge, and that will give you a head start on your new job after the papers are signed at the closing. You could also get some tips and tricks on setting leasing prices, maintaining properties for the least amount of money possible, and how to find the right tenants for your homes.

In the end, you will be much happier with your experienced real estate agent, even if you’re sad to leave behind your friend, the brand new real estate agent. The moment you start to see profits on the properties that you’ve purchased, you will realize how wise it is to work with experience and not with friends. It’s a hard decision to make in the beginning, but the final results will always prove to you the wisdom of your actions.

By: Ken Boutilier

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Ken Boutilier is an Atlantic Canadian based real estate investor, trainer, speaker, consultant and entrepreneur who has combined his knowledge of real estate investing and Internet marketing to train and teach others how to increase their cash flow through successful real estate investing. Learn more at Real Wealth Atlantic.