In finding a great real estate agent, there are a few more characteristics that you should look for. As a continuation to the previous post, here are a few more characteristics:
If an agent does not ask a lot of questions about your intentions when you first make contact, you can be fairly sure he or she is not going to provide the service you require. An interested agent will want to know things like your preferred location, budget, timing, purpose, availability of funds and much more. If you do not have a preferred location, tell the agent that you want an investment property where the income is more important to you than the location.
THE RIGHT PERSONALITY
I asked the directors of Bawdens Industrial in Parramatta what they look for when they recruit a new member for their sales team. I was surprised to hear that their number one requirement is someone who likes people. They look for a high-energy individual, a creative person who can think outside the square, who is not afraid to lead or to provide advice. The person must be tenacious and willing to work for all the parties involved in a contract–in other words, they must be solution driven. Ideally they should have acquired educational credentials, such as a land or property valuation degree, but the personality of the person is more important than a university degree.
When you meet with an agent to discuss purchasing a property that you are interested in, he or she should be able to knowledgeably discuss with you all the positive attributes of the property. They should know the age of the building, have information on the current tenant (if there is one), and be able to demonstrate why the building is priced the way it is. If the building is vacant, the agent should be able to explain to you the type of industry that property would attract, as well as the expected monthly rental income.
If you are interested about my trusted resources, I have provided a list at the end of my book. However, we can educate ourselves too. Knowledge is powerful and builds confidence. Let’s look at properties and get a thorough basic understanding of what makes a good industrial real estate investment.
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