4 Reasons To Discuss Property Investment Plans With A Real Estate Agent
Posted on: 12 May 2020
You stepped into the role of being a real estate investor because you enjoy the whole process. You may consult with several industry professionals along your way to being a successful investor, but a real estate agent should actually be one of the first professionals you talk to. Real estate agents spend a lot of time getting to know about property valuation, sales, and marketing, but they can do far more than help you sell a house. Here are a few reasons to discuss your property purchase plans with an agent as a real estate investor.
1. The agent can let you know about prior problems with properties in a certain area
If a home has a history, this is something that you should always know before you buy as a real estate investor. For example, a violent crime that happened in a home can completely inhibit its selling potential. Local real estate agents can give you insight into the history of a home.
2. The agent can guide you regarding the leasing potential of a property
It is not at all uncommon for real estate agencies to handle leasing for investors who own several properties they rent. Therefore, there really is no better place to go to find out about the leasing potential of a property you're considering buying. The professional can give you an idea of how easy or difficult a place would be to keep filled and may even have insight on average lease prices in a given area.
3. The agent can help you get the property appraised by a true professional
Any time you are looking to invest in a property for a return, the most in-depth property appraisal is a necessity. If you are buying in an area where you are unfamiliar with the local appraisers, it is always a good idea to reach out to a local realtor to see who they can recommend. Doing so will help you make sure you get an unbiased appraisal.
4. The agent can give you advice about real estate flipping plans
Say you come across a house that is really priced well, and it seems like the perfect flip property. You can buy it, spend a little on repairs, and get a quick return on your investment. Before you make an offer on the house, consult a real estate agent about the property. A good local realtor can give you industry insight into whether the property will be what you expect it to be as far as profit and sale are concerned.
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