6 Questions Real Estate Investors Should Ask Their Realtor

As a real estate investor, purchasing an investment property is perhaps the largest financial transaction you can ever make. Working with a realtor is essential because investing in a property is expensive and complicated.

6 Questions For Your Realtor

Can I see your references?

When buying a property, you must always ask for references from your realtor. Call some of these references and inquire about their customer experiences with the realtor.

Is it possible to get a CMA for the area?

The CMA (also known as “comps”) compares the specifications of your house to similar homes on the market and comprises information such as price, square footage, and the number of bedrooms. An experienced realtor will make this aspect a priority.

How many clients are you working with?

Few clients could indicate a realtor with little experience or who has not come highly recommended by previous real estate investors. Because word of mouth is essential in the real estate industry, the best realtors are likely to be in high demand.

How many real estate deals have you completed so far?

The majority of real estate agents specialize in assisting property sellers or buyers. Because you’re buying an investment property, you should hire a realtor who specializes in property purchases.

What experience do you have?

When interviewing a real estate agent, inquire about his or her experience in the industry. Find someone who has been a full-time realtor for at least five years, and stay away from people who do it part-time.

What’s your commission and primary form of communication?

Realtors charge a percentage of the final cost of the investment property as a commission. The commission is usually 5-6% of the final cost; however, it might vary depending on the situation.

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