12 Sep Don’t Hire That Realtor before Reading This First
The benefits of investing in real estate are by and large known by many. What may be less known (but is still very important) is the impact a realtor can have on your investment. If you’re working with an experienced professional your investment will likely deliver consistent cash flow. Should you be in the market to buy or sell property, an exceptional real estate agent can help you get the best deal possible.
However, not every professional is as professional, legitimate, or experienced as advertised. Here are some things should watch out for when hiring prospective realtors:
1. Poor Communication Skills
At its core, the real estate market is about managing relationships. Property owners, tenants, and realtors need to communicate promptly and with clarity to fulfill each other’s needs and deliver value. If a realtor you want to hire does not have professional communication skills, then it would ultimately result in sub-par relationships with you and your tenants later. Unpaid rent would escalate to bigger problems and your tenants would feel they aren’t being heard.
Before you sign the contract, pay attention to how the real estate agent communicates with you. Particularly, assess how they communicate when there is any push back or obstacle during negotiations.
2. Lack of Experience
Whether you are selling your property or buying so you can live in it, hire an experienced realtor to help you navigate the transaction successfully. An experienced realtor in Florida has been through both fast and sluggish market cycles and they know how to market a property during both cycles so that you can get the best value. A property cycle typically lasts for seven years and you should have that at the back of your mind as you work to find a competent real estate agent.
3. No Eye for Detail
A prized realtor is one who has a keen eye for detail in everything they set out to do. When you hire a real estate agent who focuses on small things and not just the big issues, you will get a worthy outcome. When you are interacting with Niceville real estate property managers, pay attention to whether they follow up on your requests in a prompt manner.
4. Inefficient Collection Skills
A real estate agent is only as valuable to a landlord as their rent collection skills. While you are weighing which realtor in Florida to work with, investigate their reputation for rent collection. Is the property manager effective with on-time collections? Do they tolerate unreasonable rent arrears that might hurt you? Pay attention as much as you can to these aspects.
Don’t Get Stuck With an Under-Performing Realtor
Finding a real estate agent to work with can be an arduous task for both experienced and inexperienced property owners. Your choice of a property manager will impact the performance of your investment. Therefore, you need to identify the markers of an exceptional real estate agent so that you can achieve your investment’s full potential.