BiggerPockets Real Estate Podcast

940: Crucial Questions to Ask an Agent and How to Negotiate Commissions w/James Dainard

Apr 22, 2024

Real estate agent James Dainard shares insights on finding investor-friendly agents, crucial questions to ask, and negotiating commissions. Topics include vetting agents, commission trends, identifying deals, and leveraging agent networks for successful investing.

40:26

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James Dainard

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Quick takeaways

Investor-friendly agents prioritize financial aspects and tailored services for real estate investors.

Seek experienced agents with expertise in your specific type of investment for valuable insights.

Negotiate agent commissions based on services provided, focusing on value rather than solely rates.

Deep dives

Characteristics of an Investor-Friendly Agent

Investor-friendly agents provide tailored services for real estate investors, focusing on the financial aspects and returns of properties. Unlike traditional agents who prioritize selling homes based on emotional appeal, investor-friendly agents focus on numbers, analysis, and facilitating profitable deals. These agents assist in property analysis, determining property value pre and post renovation, rental potential, and cash flow projections. They offer services like providing access to various capital options, recommending contractors, and facilitating the purchase process.

Value-based Commission Structure

01:27

Differentiating Between Residential and Investment Brokers

01:02

Introduction

3min

The Role of Proactive and Investor-Friendly Agents in Real Estate Transactions

5min

Navigating Investor-Real Estate Agent Dynamics

4min

Selecting Investor-Friendly Real Estate Agents

2min

Navigating Investor-Agent Relationships and Finding the Right Property Deals

5min

Efficient Strategy for Identifying Investor-Friendly Real Estate Agents

2min

Investor-Friendly Agents and Deal Machine Benefits

7min

Investor-Friendly Real Estate Agents and Commission Negotiation Trends

11min

Navigating Real Estate Agents' Services Based on Personal Goals

4min

Everyone knows how to find a real estate agent. But an investor-friendly agent—one who will find deals for you, run the numbers, hook you up with contractors, and help you get funding—isn’t the same as your neighborhood agent down the street. These agents have connections that can help skyrocket a new real estate investor’s portfolio and bring them deals that no one else knows about. So, how do you find these diamond-in-the-rough real estate agents? You need to ask THESE questions.

To help you vet your future investor-friendly real estate agent is James Dainard. James is a flipper, wholesaler, broker, investor, and lender in the Seattle, Washington, area. He’s been buying and selling houses for two decades and does more deals in one month than most investors do in years! He’s here to guide any investor through finding an investor-friendly agent, the crucial questions you MUST ask at the start, his number one tip for finding the best agents in an area, and how agents can set themselves apart from the competition.

But that’s not all. With the latest agent commission lawsuits, more buyers are aware that commissions are negotiable. So, whether you’re looking to get a steal on your next deal or want a first-class buying and selling experience, James walks through how you may now be able to negotiate what commission you want to give an agent, depending on what matters most to you.

In This Episode We Cover:

The best place to find a real estate agent (for investors!)

Questions you MUST ask any “investor-friendly” agent BEFORE you use them

The services that expert-level agents provide that’ll help you build wealth faster

Negotiating agent commissions and how the recent NAR lawsuit could change the agent landscape

How to make sure that your agent knows what they’re talking about when they bring you deals

And So Much More!

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