As a real estate investor, you may not really see the reasons to take the time to forge an investor agent partnership. Won’t you just eat into your own profits and compete against the agent you’re working with? Not true! Creating a solid investor agent partnership can provide multiple benefits for both parties. Here are 5 benefits of an investor agent partnership in Northern Virginia.
The mark of a successful business is when you attract more referrals than cold-recruited clients. Referrals mean you have happy former clients, friends, and other business partners who trust you enough to send their friends and family to you.
When working with an agent, you have someone who has worked with you in a professional capacity, as well as a wide variety of connections, to give you a steady stream of high-quality referrals.
In the reverse, you are able to help your friends, clients, and other connections by referring them to the agent. You know they’ll get great service, making them more likely to refer their friends and connections to both of you.
In the real estate business, either as an investor or an agent, connections are everything. The more people you know, the more likely you are to find out about new opportunities and gain new clients.
At a certain point, though, your own personal network will bottom out and you’ll maximize the business potential of the people in your network.
If you form an investor agent partnership, though, you add that other person’s entire network to your own network, doubling – or more – your business opportunities. And the more people you meet, the more people they can introduce you to, and the more your network can expand.
If you’re partnering with someone who works with and has access to people looking to sell their properties or rent other properties, you have the opportunity for more profits.
When your real estate agent partner refers business to you, that’s business you wouldn’t otherwise have. And when you refer people looking to purchase a property to your real estate partner, they receive more profits.
As your partnership expands, you each may also provide a referral bonus to the other for referring new business, which means more money in your pocket for less actual effort.
Forming an investor agent partnership means you both bring your individual sets of resources into the partnership. Whatever marketing, office support, or other resources you each have, the other gets access to those resources as part of your partnership.
That means, if you struggle with promoting your rental opportunities, you can access the marketing resources of your real estate agent partner and improve your chances of filling your investment properties for less effort and at less cost.
SECOND SET OF EYES
Have you ever walked into a potential property with rose-colored glasses, not seeing the flaws until way later in the purchase process? This can cost you a lot of time, effort, and money.
When you have a partner in the real estate business, however, you get a second set of eyes you can bring into every property you’re considering investing in. The real estate agent can help you find the benefits and flaws of each property and make the best decision on whether or not to invest.
On the other side of the coin, you can help your real estate agent partner look at properties they’ve been asked to list and provide your market knowledge on a fair listing price, any improvements, and other items that could help the seller get the best price for their property.
Professional Real Estate Agents in Northern Virginia
If you’re looking to form a mutually beneficial investor agent partnership in Northern Virginia, contact our team of professionals today at 571-402-5155!