One of the keys to successful real estate investing is building a powerful team around you.  Real estate investing isn’t something you can go at alone.

In this article we’ll explore:

  • The many reasons you should have an agent/broker on your team, in spite of the fact that in our real estate classes we spend a lot of time teaching how to find off market deals which don’t require an agent/broker.

  • Getting the right real estate professionals on your team.

Why Have an Agent/Broker on Your Real Estate Team?

When we sell, an agent/broker has the power to get the property in-front of the masses; and when selling that’s what we are looking for.  There are other times when an agent/broker is useful, for example:  when in the middle of a tough negotiation or as a great resource for comps and MSL data (which is not available to a “non-professional”).

When looking for the right agent/broker it will matter what you are buying or selling: is it a commercial property or is a pretty little house with a white picket fence?  Check out this article to learn the difference between an agent vs. broker.

Who Do You Need on Your Real Estate Team?

A complete real estate team should include the following professionals:

  • Realtor

  • Accredited Land Consultant (ALC)

  • Certified Commercial Investment Member (CCIM)

  • Certified Residential Specialist (CRS)

  • General Accredited Appraiser

  • Real Estate Negotiation Expert (RENE)

This article will focus on the designations an agent/broker can have, highlighting the ones that are most beneficial for investors.

A REALTOR®: This is a licensed real estate salesperson who belongs to the National Association of REALTORS®, the largest trade group in the country. REALTORS® are held to a higher ethical standard than licensed agents and must adhere to a code of ethics. Some REALTORS® are brokers, while some are agents. Many individuals use these terms interchangeably, however there are big differences.

Realtor

When would you look for this designation: Personally, I believe this is a designation you should always look for.

The esteemed Accredited Land Consultants are the most trusted, knowledgeable, experienced, and highest-producing experts in all segments of land. Conferred by the REALTORS® Land Institute, the designation requires successful completion of a rigorous LANDU education program, a specific, high-volume and experience level, and adherence to an honorable Code of Conduct.

ALC

When would you look for this designation: When investing in land.

The Certified Commercial Investment Member designation is commercial real estate’s global standard for professional achievement, earned through an extensive curriculum of 200 classroom hours and professional experiential requirements. CCIMs are active in 1,000 U.S. markets and 31 other countries and comprise a 13,000-member network that includes brokers, leasing professionals, asset managers, appraisers, corporate real estate executives, investors, lenders, and other allied professionals.

CCIM

When would you look for this designation: When dealing with any commercial transaction such as buying or leasing commercial property.

The Certified Residential Specialist designation is the highest credential awarded to residential sales agents, managers, and brokers. On average, CRS designees earn nearly three times more in income, transactions, and gross sales than non-designee REALTORS®.

CRS

When would you look for this designation: This specialist would be most beneficial when you are getting ready to sell a fix and flip property and you are looking to get the maximum value.

General Accredited Appraiser: For general appraisers, this designation is awarded to those whose education and experience exceed state appraisal certification requirements and is supported by the National Association of Realtors.

RENE

When would you look for this designation: When in need of a professional appraisal of property.

Real Estate Negotiation Expert (RENE): This certification is for real estate professionals who want to sharpen their negotiation skills. The RENE certification program gives REALTORS® the tips and tools they need to be skillful advocates for their clients.

When would you look for this designation: When needing an expert negotiator.

Considering the importance of having knowledgeable professionals on your real estate team you can depend on, it is not surprising that many of our OTA Real Estate Instructors hold many of these designations.

Learn to Trade Now

This content is intended to provide educational information only. This information should not be construed as individual or customized legal, tax, financial or investment services. As each individual's situation is unique, a qualified professional should be consulted before making legal, tax, financial and investment decisions. The educational information provided in this article does not comprise any course or a part of any course that may be used as an educational credit for any certification purpose and will not prepare any User to be accredited for any licenses in any industry and will not prepare any User to get a job. Reproduced by permission from OTAcademy.com click here for Terms of Use: https://www.otacademy.com/about/terms

Education feed

Editors’ Picks

EUR/USD consolidates around 1.1150 amid mixed trade headlines

EUR/USD is trading around 1.1150, consolidating previous gains. President Trump has expressed optimism about clinching a deal with China, while some officials have cast doubts. Brexit headlines are set to impact the euro as well.

EUR/USD News

GBP/USD slides toward 1.29 ahead of critical vote on the Brexit deal

GBP/USD falling toward 1.29 as parliament is set to debate and vote on UK PM Johnson's Brexit deal. The vote on the program to complete the process quickly is also critical. 

GBP/USD News

USD/JPY holds steady above mid-108.00s

The USD/JPY pair failed to capitalize on the early uptick to multi-day tops and is currently placed at the lower end of its daily trading range, just above mid-108.00s.

USD/JPY News

Editors’ Picks

EUR/USD consolidates around 1.1150 amid mixed trade headlines

EUR/USD is trading around 1.1150, consolidating previous gains. President Trump has expressed optimism about clinching a deal with China, while some officials have cast doubts. Brexit headlines are set to impact the euro as well.

EUR/USD News

GBP/USD slides toward 1.29 ahead of critical vote on the Brexit deal

GBP/USD falling toward 1.29 as parliament is set to debate and vote on UK PM Johnson's Brexit deal. The vote on the program to complete the process quickly is also critical. 

GBP/USD News

USD/JPY holds steady above mid-108.00s

The USD/JPY pair failed to capitalize on the early uptick to multi-day tops and is currently placed at the lower end of its daily trading range, just above mid-108.00s.

USD/JPY News

Brexit drama does not deter the pound

Despite an unending series of Parliamentary setbacks for Prime Minister Boris Johnson’s attempt to clinch the UK exit from the European Union, Sterling has retained almost all of its gains of the past ten days, suggesting that his Brexit deal will eventually be approved.

Read more

Gold edges up to $1490 area, lacks follow-through

Gold edged higher through the early European session on Tuesday and is currently placed at the top end of its daily trading range, around the $1489 region.

Gold News

RECOMMENDED LESSONS

7 Ways to Avoid Forex Scams

The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?

What Are the 10 Fatal Mistakes Traders Make

Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.

Strategy

Money Management

Psychology