Why would a Realtor be a part of your "Dream Team"? If you're thinking that you could achieve complete success investing in
homes foreclosure by doing it alone, better think again.
As you go along with your quest for homes foreclosure venture you will
need to form your "Real Estate Dream Team" composed of realtors, accountants, title officer, attorneys/lawyers and constractors/handyman.
Each one of these folks will play vital roles as you move along your real estate transaction from finding all the way to selling or
keeping that foreclosed home. You will even utilize the services of some these folks continously even after you bought or sold
your home.
It's pretty common that realtors are mostly compared to car salesman. Similar to the point where both are selling
something. But that's where it all stop.
Realtors are selling something that keeps going up in value. Car salesman
sells something that depreciate in value.
What are the things realtor could do for you?
- All realtors have access to
MLS(Multiple
Listing Service). MLS provides agents of the properties sold by other agents. This listing also shows the properties that
sold and it's only accessible by licensed realtors. This listing will be the basis of "COMPS" you will need to know the average selling
price in your area.
- Realtor could provide you of the most up-to-date foreclosed properties listed in your area.
Sometimes they even have the access to know in advance of these foreclosed properties before it get listed for public. Knowing
foreclosed properties in advanced before it gets posted gives you the edge from the rest of your competition.
- EXPERIENCED
Realtor will be your great source for market trends when it comes
to rents, selling price(if overpriced or not) and geographic issues
or problems
in your areas.
So how can you find the right realtor who could work for you especially when it comes to homes
foreclosure?
If you're new in your neighborhood it's tough to know who's the qualified realtor in your area. Ask your
friends or co-workers who would they recommend. Your first task in looking for the right realtor is simply to make some phone
calls. Right at the moment you talk to the first realtor, see how accomodating he/she is. Ask if he ever done foreclosure
properties before, how many foreclosed homes he sold.
Once you have done your pre-qualification process, ask him if he could
show you the foreclosed property for physical inspection. And after the inspection, this where you request for the "COMPS" of
the properties sold around that foreclosed property. Remember that all these services are FREE of charge to you including the
MLS sold listing. The only time they get paid is when they get you to sign on the closing table for the commission.
If
you feel that realtor is not very helpful to your needs, look for another one! There are hundreds of them, and they are begging
for you to call them. Go ahead and gain the experience in meeting and knowing your best member of "Real Estate Dream Team".
