Investors and home buyers alike constantly ask me for recommendations for various people and companies I work with personally in the real estate business. It is true, I have been building a real estate team that works together well a
nd functions efficiently since the first day I started in real estate just over three years
ago – AND YOU SHOULD TOO!
Especially if you want to get into the home buying and home selling business regularly, become a landlord, learn how to renovate and flip houses, OR become a homeowner for the first time. I cannot stress how important this is and it is one of best tools that you can provide yourself or your own stakeholders/clients in order to create successful real estate business.
Before you begin building a real estate team, make sure you know all the key players:
1. Loan officer.
2. Escrow agent with the title company.
3. Real estate agent.
4. Tax advisor/CPA.
5. Homeowner’s insurance agent.
6. Home inspector.
8. Real estate attorney (just in case).
Remember, it is not necessarily what you know, but who YOU KNOW and WHO KNOWS YOU! Each of these key players must be able to work together, having the same end in mind in order to be successful. Building a real estate team can be mutually beneficial to the consumer, the real estate agent, loan officer as well as anyone else on your list. Once you’ve begun building a real estate team, keep in mind the goals of that team and the information necessary to keep that team running at peak efficiency. Not to mention, you should consistently seek to maintain the list – either adding new contacts or removing ones either no longer in the business or no longer dedicated to the same goals you or your team
Make sure that you know the changing mortgage guidelines. One of the biggest complaints that consumers have about patronage of real estate and loan combinations is that the real estate agents sometimes seem to be in over their head when it comes to mortgage lending. Make sure your real estate agent is in the know when it comes to factors like changing mortgage guidelines, FHA loans, FHA marketing ideas, or federal regulations regarding mortgage interest and processing can go a long way to instilling confidence in the consumer. One aspect of my career that compliments the real estate business I offer to my clients is my years of experience managing and buying my own properties as well as my accounting experience as a Tax Accountant. I am an investor’s dream as one who understands tax planning, income shifting, and other real estate related tax deductions property owners and landlords can make.
Building a real estate team is the beginning of a successful real estate career or portfolio. Keep your team up to date and educated on the local marketing trends as well as the national market trends. The more education and specialized knowledge in the fields of real estate and mortgage lending that you have, the more appealing your company will seem to your target audience. Providing the highest quality service can go a long way to establishing good customer relations which can lead to referrals and a long-term client base AND repeat customers.
Please comment below and let me know what other key players that are missing from this list that you have found helpful in building your real estate portfolio. And as always, have a nice day and let know if you have any topics you would like to see covered on my real estate blog. Thanks for the opportunity to work with you.