Joe Homs explains how to work with real estate agents to find flip deals. Qualify agents by asking about their investing experience and ownership history, train them on your target price and ARV, and always ask about off-market opportunities. Pay commissions and stay loyal to agents who deliver.
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In today's video, I'm going to show you how to find flips working with real estate agents. Coming up next. Although most of the ways which investors find houses to flip are found off market, never discount a good real estate agent who knows your market to uncover excellent potential house flips for you. Are you looking to live the life you've always wanted through real estate? That's exactly why I made this channel for you, the new And experienced investor. Make sure that you subscribe, hit that like button, and please share this with your friends. Number 1, qualify them with questions. And I think this is really important. How long have you been a real estate agent? Do you have investments yourself? Do you own a home? All these things are really important to ask. And those 3 simple questions, you'll be surprised how many agents who have a license to sell real estate don't even own their own home. And you'll be surprised how many real estate agents say that they work with investors, but they've never purchased an investment property before. How is somebody that has a real estate license going to advise you on doing these things if they have no experience? Look for that experienced real estate agent/investor To help you out on your next deal. When you do find a good real estate agent, make sure that you're loyal to them. Okay, don't be jumping ship and going someplace else. You know, my rule is if I have a deal and I send it over to you, you're not going to go shop this deal with another real estate agent that's your cousin twice removed, you know, something like that, because your cousin twice removed has decided to give you a kickback on his commission. Okay, if I send you a deal, it's a good deal. So be loyal to your agents and pay them their commission and move on. Number 3, I would say try to train your agents as much as possible. So if you're experienced, then you need to let them know these are the type of properties I'm looking for. I'm looking for this type of ARV. I'm looking to buy something at nowadays 60 cents on the dollar, 70 cents on the dollar. We were buying all the way up to 80 cents on the dollar. We're not there anymore. The market is going down, so you have to be careful. But you need to train your agents. This is what I'm looking for. Have them find out if they have any contractors. Can they refer you to contractors, especially if you're buying in different areas? If your contractor won't go from, let's say, one county to another, then, you know, see if they have any contractors that they've actually worked with. Next thing is make sure that you follow up with them. They get busy working their own regular deals and sometimes working with other investors, so you have to kind of be proactive and follow up with them. Ask them if they found you a deal. Does it meet your criteria? Ask them about your criteria. Is this really unreasonable what I'm asking you? If it is, then I guess you need to go back to the drawing board and figure out what is reasonable, and then try to put together a plan to move forward. And finally, always ask about Off-market properties. And you can meet as many agents as you want. I want you to be loyal to one, the one that is sending you the offers. But that doesn't mean that you interview 10 of them and you may get 10 offers from different agents. Okay? So make sure that you ask them all about off-market properties because you may have a listing agent that gets a property that remembers that you're looking for this property and they send it to you first. Why do they send it to you first? Because they want to double in the transaction. They want to make a commission from the seller and they want to make a commission from you, the buyer. So that's why they'll give you first bite of the apple instead of putting it on the MLS. Working with real estate agents can add another powerful lead generation tool to your toolbox. Keep the tips that we speak about today in mind, and you'll be sure to find excellent houses to flip from agents. If you want to know How you know if an agent is good, don't miss this video right here. I give you some questions to qualify your agents so that you know that they're right for you. If you need anything, please reach out. I'm always here to help.
