Buying investment property is serious business. The difference between a “flip” or “flop” could be in details that you can’t see at first glance. One of the best ways to help ensure a profitable transaction is to use a real estate professional. In my award-winning book, The Foreclosure Revolution, I dedicated an entire chapter to the importance of building a team of skilled professionals. A real estate agent was one of the first team members I mentioned in the chapter, because of the immense value that they brought to the table.
Professional investors and seasoned veterans know the value of having a knowledgeable agent on their team. Novice and some intermediate investors, however, sometimes think that using a real estate agent to find investment properties takes money out of their pocket. This couldn’t be further from the truth. Agents and brokers actually maximize the profitability for a real estate transaction. Here are five reasons why real estate investors should use a licensed real estate professional when buying investment property.
1. Real estate pros have access to the best and most accurate data.
If you think you can get the most up-to-date data on your own, you might be sadly mistaken. Real estate agents have access to the Multiple Listing Service, or MLS, as it is commonly referred to. The MLS has the most comprehensive data of recent home sales and values that can be found, period. The only way to get access to this is through an agent. I became a real estate agent because I wanted to specifically represent investors. Then I became an investor. There is no question that having access to the MLS was the most critical component to my success and the success of my investor clients.
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