As an investor, you’re used to moving quickly and communicating effectively to close a deal. To help you meet that goal, a qualified agent can make the entire process more efficient. To better understand the agent’s function, let’s examine why every Salt Lake real estate investor needs a good agent on their team.
Why Every Salt Lake Real Estate Investor Needs a Good Agent on Their Team
A real estate agent achieves success through resourcefulness, building a positive reputation, and communicating efficiently with people from all walks of life.
A good agent will come equipped with a plethora of lessons learned from negotiations, showings, and inspecting the nooks and crannies of the properties with which they have dealt in the past.
By integrating an agent into your team, they will be able to take data from other members of your team and distill it down to a reasonable risk-benefit analysis on any potential deal.
The More, the Merrier
As an investor, your goal is to find the properties and deals that will net you the largest profits.
By having dedicated members of an investment team, this allows you to have these individuals focus on their specific areas of expertise. While any of these team members could look into a property and come away with impressions, a good agent knows what to look for and can give you a better idea of any potential issues.
Their local market knowledge will be invaluable when they are looking for your next deal, and once you’re ready to put in a bid. Once negotiations are underway, an agent’s experience in this area will help you secure the best possible deal and reduce the amount of time and effort you would otherwise have to dedicate to the negotiation process.
Access to Agent-Specific Resources
When you bring a real estate agent onto your team, you gain access to their tools of the trade.
The biggest tool provided will be the Multiple Listings Service or MLS. The MLS is just a giant database of all properties that are available for sale and stored data of properties that have left the market for whatever reason.
This database allows them to quickly and efficiently find appropriate targets along with extremely helpful comparable sales data of nearby deals that have closed successfully.
Open Doors to Contacts
Besides the tools an agent uses, a good agent will expand your network of contacts.
Agents quickly pick up favorite professionals they call on for assistance when buying or selling properties. This could include contractors, inspectors, engineers, and lenders.
Since an agent is used to working with all sorts of professionals, they learn to rely on these individuals to help them get the job done right the first time.
Grow Your Marketing Options
Last, but certainly not least, a qualified and experienced real estate agent has gotten to where they are in their career by getting creative with their marketing and keeping up with trends that pull eyes to their available properties.
As technology has become a larger part of our everyday lives, agents leverage it to get the word out and generate interest in their portfolios. This could include advertising through social media, getting a set of professional photographs put together, or putting together a 3D virtual tour of one of their for-sale properties.
Depending on your needs, your agent will go the extra mile to get people interested in your properties, draw them in, and get you the best deal.