How to select and train:
“What do you want the Realtor to do for you?” I suppose the conventional Realtor can show you and attempt to sell you listed properties on the MLS.
Your most profitable transaction may come directly from sellers directly and owners of properties that have not sold, also known as expired listings. I would suggest you develop a relationship with an agent to be your “Fiduciary Buyer’s Broker.” This means that the agent represents you and on unlisted properties that you will pay him, a commission that you both agree with. Sometimes a new agent in the business will be more open to your proposal.
This is what, as investors, I’d want my Fiduciary Buyer’s Agent to do for me:
To supply me with expired listings on a daily basis in individual zip codes.
To assist in locating the owners of those properties.
Or, to make an offer through the expired listing agent.
To present contracts and to open negotiations on leads received.
To search for FSBO’s in a prescribed area, to notify me and to make offers on those properties.
To keep me informed of any new laws, regulations or news about the area I want to invest in.
Come back next week for Part Two of finding a realtor.
~Charles, CEO Investors United, School of Real Estate Investing.