5 Types of Real Estate Agents to Run From
Investors and real estate agents are like Batman and Robin. Tom and Jerry. Scooby Doo and Shaggy!
At least they should be.
Working with the right real estate agent can help an investor tremendously. However, working with the wrong one can cause you to make a bad investment, which can negatively impact you for years to come.
Right now, interest rates are at an all-time low. 100% home loans are becoming more readily available. There is an influx of first-time investors on the market looking to take advantage of well-priced properties to turn a profit. This real estate market boom means that investors are working with agents more than usual.
I’ve come across a fair amount of bad real estate agents in my time as an investor. Here are the top 5 types of real estate agents to avoid:
Secretive
Transparency is key when dealing with a real estate agent. Are they answering your questions thoroughly? Are they being honest? Or are they hiding details about the deal? If your real estate agent is acting secretive, run for the hills.
Disorganised
Disorganised real estate agents are surprisingly easy to come by. While it may not seem like a glaring red flag at first, there are several cons to working with a disorganised agent. If they misplace papers or are slow to return your calls, your deal could drag on before finally closing. They may be less likely to thoroughly perform due diligence. If your real estate agent is constantly making excuses, you may want to find another one.
Cocky
Confidence is an important trait for real estate agents to have, but they shouldn’t be cocky. I know, it’s a fine line. But if a real estate agent is overconfident, they could end up sabotaging the deal. Be sure your agent is sure of themself, but has a good attitude.
Money-hungry
Of course your real estate agent should want to get you the best deal. However, you should be cautious of those who prioritise making sales over building relationships.
Lazy
Just because a real estate agent knows what they’re talking about doesn’t mean they’ll actually follow through. Don’t fall for the trap! The best agents are passionate about what they do. It’s easy to put up a for sale sign and sit and wait, but good real estate agents are proactive.
Real estate agents should help you make informed investments- not waste your time. They should be passionate about getting you the best deal- but not be solely money-minded. The best real estate agents prioritise building relationships. As my mentor Dolf de Roos says, “Some people are Wise and Some people are Otherwise.“
As someone who built a multi-million rand real estate investment company in a few short years, I know the value of working with a driven real estate agent. The right real estate agent can not only help you purchase the right property for the right price, but they can also ensure that your investment career gets off on the right foot.
If you’re looking to begin your real estate investment career- or make your existing investment portfolio more profitable- you’re in the right place. For more information on how to invest in real estate with no money down, download my FREE ebook! To learn more about property investment, you can read through my blog or contact me for a 1:1 consultation.
Calling all real estate investors and those interested in investing! From 28th September-1st October, I will be hosting a virtual summit on the digitalisation of real estate. The top 20 proptech companies in South Africa will be coming together to teach on how to digitalise your real estate investments in the midst of a pandemic. This virtual event will be hosted every day from 9am-12pm. Spots will be limited so be sure to pre-book before August 30!
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If you’re ready to take the next step in your real estate investment journey, I would love to help. I have created a no-nonsense course that can help you go from beginner to profitable real estate investor in the next 90 days. Click HERE to find out more!
Interested in learning about how to invest in real estate with no money down? Grab your copy of my ebook How to Invest in Real Estate with No Money HERE! I am giving it away for FREE! In it, I reveal my proven strategy to building wealth through real estate investment without spending my own money. This strategy includes several of the income streams I created without paying any money down.
And don’t forget to Register for this Thursday’s Livestream, so you can get your Real Estate questions answered.