Working with an experienced buyer’s agent gives you an advantage in three distinct ways.
Your agent will care about your success because when you succeed, they succeed. A buyer’s agent keeps money in your pockets by recognizing real estate pitfalls and mistakes that are common to beginning investors. Let’s say you want to purchase a beach property to turn it into a short-term rental. Your real estate agent will be able to warn you against local municipality regulations that say homes must be rented on a minimum 12-month basis. By recalculating potential rental income, you can decide if the property is worth the purchase.
Secondly, a buyer’s agent is legally obligated to serve your best interests. The agent can warn you against too high prices, negotiate that the seller pays closing costs, or fight for certain repairs to be made. Your agent fights for you to have the upper hand in each step of the buying process.
Lastly, a strong buyer’s agent can serve as a long-term team member. As you explore different areas of real estate investment, like condos, wholesale, or flipping, your agent can act as a guide. By answering questions, researching property, and helping you make the best deals, your agent secures your trust and can be a long-term asset to your investment team.
Research buyer’s agents in your market. Read reviews, recommendations, and review the agent’s past deals. Ensure your personalities mesh well and that the agent enjoys teaching clients. You’ll learn profitable tips from the agent and ideally build a partnership that grows your portfolio.