By Brandon Doyle
Tapping into the investor real estate business is a common goal among agents and brokers. While buying and selling residential property on behalf of individuals and families in search of their next home is typically an agent’s bread-and-butter, working with investor clients can open up a whole new stream of revenue and referrals. With that in mind, consider a few of the tips below as you seek out this desirable breed of real estate client and earn their trust for the long haul.
1. Prioritize Speedy Responses
Real estate investors do business on multiple properties per year, which could mean a steady stream of business for you and your office, too. First, you must prove to your client that you work with efficiency and stay accessible throughout all phases of a transaction. To investors, time is money, so forging a speedy and proficient reputation for yourself will go a long way to convince investor clients to partner with you, an agent who works hard and fast to deliver results.
@Unsplash, 2016. pixabay.com
2. Learn the Vocabulary
Because investors have different goals in mind when buying or selling property, it’s important to learn the different vocabulary involved when discussing investment transactions with a potential client. The first way to net an investment client is to signal to them that you understand the lingo, stakes, and special circumstances involved. Do your homework on terms and phrases like “capital gains,” and “hurdle rate,” to name a few. In order to be considered a viable real estate representative for an investment client, you must demonstrate a deeper, more specific understanding of the market you’re seeking to tap.
3. Be Organized
Organization goes hand in hand with working quickly and efficiently. Investors need to be able to make snap decisions in order to scoop up a great deal before the competition does. In those instances, an investor client will need to be able to quickly touch base with you on the property, other agents involved, the neighborhood, and the numbers, among other factors. By staying organized on a daily basis, you’ll be able to respond with key information, without additional delay—making you an invaluable asset to your investor client.
4. Go Where the Investors Are
While it’s worthwhile to screen potential investment clients to be sure they’re experienced and ready to take on the rigorous challenge ahead, first you must tap into the network of investors out there. Getting involved in community and professional organizations like the local Chamber of Commerce, REALTOR® association, or local and state entrepreneurial organizations, can lead you to a wealth of investors seeking the help of an established agent with knowledge of property investments. Investors are always on the lookout for a fellow professional who can deliver results and make their business go smoothly. That someone could be you, as long you as position yourself in the right company.
With their multiple yearly transactions, investment clients can change the face of your business. Keep in mind some of the tactics above to hone your skills, meet potential investor clients, and tap into a game-changing market of clientele.
Brandon Doyle, ABR, e-PRO, is a second-generation real estate pro with RE/MAX Results in the Twin Cities. He is also coauthor of the book M3 – Mindset, Methods & Metrics: Winning as a Modern Real Estate Agent available now on Amazon. Learn more about Brandon at www.doylerealestateteam.com.