Why Investors Need a Real Estate Professional
New investors sometimes make the common mistake of thinking that they don’t need a real estate professional until they are ready to flip a property. After all, its easy to find a property on the internet.
Just look at all the information out there at your fingertips from Zillow, Realtor.com, or LoopNet. And of course, banks have their REO properties listed on the internet as well. Oh sure, realtors are sometimes needed to gain access to a property, but sometimes you can bypass that by going to an open house, or knocking on the door, right?
Well, not really. True, you can go to open houses and you can knock on the door. But you may have difficulty getting in, or you may only be able to have limited access. And here’s the real kicker: much of the information you find in public listings on the internet is not accurate.
Wait. How can that be?
Well, it was accurate when it went up, but it hasn’t been updated. Many times public real estate sites are slow to upload information about changes in price, availability, or contract status. For an investor, time is money. Chasing the dream that cannot become a reality is a waste of time, effort, and money.
Use public websites to learn about your market area. Contact the real estate professionals listed with questions. Better yet, contact the one real estate professional you are working with to find you properties. Chances are if they didn’t alert you to the online deal of the day they probably have more updated information concerning how it might fit your portfolio. But if they know that this is what you are interested in, they can do further research to learn if it has become available, or find something similar.
A real estate professional can help an investor locate properties, gain access to the sites, advise on strategy for bidding on auctions, get inside information on REOS, auctions, and foreclosures, and negotiate with other agents or bankers on your behalf. They like working with investors over the long term, as opportunities are there for them to market your properties when it is time to sell, help you buy properties, or connect you to property management.
I can assist you with all aspects of real estate investing. Contact me for a free market evaluation of your home or investment property, or for information on featured properties or with any questions you have about real estate.