Working With An Agent, part 2
The question that Zack Childress poses on every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer.
Today’s episode is part 2 of 2 about working with a real estate agent. Zack has local agent, Tim Knox, on the show, so we can get the info from the agent’s side.
Tim’s company, Revolved Realty, is a flat-fee listing company in Madison, Alabama. Revolved has 2 offices and 19 agents that deal with buyers, sellers, investors and builders.
All agents are not the same. As discussed in part 1, many agents know only retail buying and selling. Investors have different needs.
Investors should ask agents about their experience level, consider personal compatibility and generally treat the first meeting like a job interview. Often the most suitable agent is also an investor.
Zack asks Tim an important question, “What bothers you the most about investors?” Turns out that it’s lack of preparedness, wanting Tim to teach them how to invest.
Zack adds to that. He warns investors not to have several agents doing the same thing and not to look at agents in any way other than as a partner/colleague. The goals should be the same for both parties.
Don’t go to an agent too soon. If you’re not prepared to buy, don’t have an agent out looking for deals. You’re wasting their time and losing credibility.
Tim’s company is a flat-fee brokerage, which simply means the fee is lower than most. That’s particularly important for volume users like investors.
“Never forget how you reach success and always stay humble.”