Author: Realty Times
As a Realtor, you can tap into a whole new market by catering to investors. In my book, "Flipping Houses For Dummies," I encourage readers to avoid flying solo and build a strong investment team, consisting of a Realtor, mortgage broker, title company, appraiser, home inspector, attorney, and contractors. You probably already have a Rolodex packed with the names and contact information of professionals who can take on these roles.
All you need now is an eager and capable investor to acquire the financing and put the project in gear, and you can start generating business and profits for everyone on the team, including yourself.
If you need some additional business, consider marketing yourself as a buy-fix-and-sell real estate investment team builder. Attend local meetings where real estate investors gather to talk shop and offer to speak on the valuable role that a Realtor can play on their investment teams. Let them know that you can put them in touch with the people who can simplify the process of investing in real estate.
Although many Realtors shy away from servicing investors, realize the many benefits you stand to gain:
- Increased business on both ends of the transaction -- when you help an investor buy a property, that investor is more likely to hire you to sell it.
- Increased referrals. As you refer business to other real estate professionals, they are more likely to refer business to you.
- Investment opportunities of your own. As you begin to work with investors, you become exposed to investment opportunities that you may want to take advantage of.
- Other opportunities. Once you have several investors as clients, you may spot the need for other services, such as property management services for clients who choose to lease their investment properties rather than sell them.
Remember that success in any field requires that you do what you're best at and find others to fill the gaps. Sure, all of these people charge money, but the investor simply needs to calculate everyone's cost, including your commission, into the equation. GetFlipping.com provides a Purchase Price Estimator that can help investors determine how much they are likely to profit from a given investment property, after covering all costs, including your commission.
Remind real estate investors and would-be investors in your area, that they can manage more investment properties and increase their profits by teaming up with professionals who are already geared up to handle various aspects of the transaction. This team-based approach not only reduces the risk for novice investors, but also maximizes their profit potential.
As team leader, you act as the rainmaker and coach, putting all the pieces together. As a result, you give yourself the opportunity to tap into a totally new and potentially lucrative market.
Mortgage News | Mortgage Loan | Refinance Mortgage
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