Real estate is a time tested vehicle for building and acquiring wealth. Every finance book written by a wealthy subject matter expert names real estate as an important component to building a high net worth.
Would it not then make sense to choose a real estate professional who understands this vs one who moves from deal to deal with no real expertise to offer the client?
The number one reason anyone hires a realtor is for their industry knowledge and area expertise. If these skills were not valuable, everyone would list their home with an online discount brokerage and take the first offer they received. And for buyers, it would mean they would be making a decision simply based on aesthetics and not a proven history of appreciation or any guarantee of return on investment. Yikes!
Would you take driving lessons from someone who doesn’t own a car? I don’t think you would, then why would you take the advice of someone who isn’t fully immersed in the real estate world and simply has a license.
How can you determine if a real estate professional has the experience to advise you?
- Do they own real estate? Are they an investor in real estate?
- Do they have the knowledge to advise their clients based on long term goals?
- Do they understand how borrowing money works?
- Do they have wealth building opportunities they can bring to you — such as new developments?
- Do they work with clients on a long term basis? Or are they a one deal wonder?
These are important questions that you want to consider. Ideally your real estate agent is a trusted advisor who is with you thorough your life cycle and helps you build your net worth.
This has been my vision from the start of my real estate career and something I focus on daily. Your realtor plays an important role in your life and your financial future, pick them wisely.