You should expect excellent personalized service from an agent if you plan on buying multiple SFHs for investment purposes here in AZ, possibly compensating up front for some of the leg work, and potentially selling the properties at some point.
There are many bank owned, short sale, and foreclosure homes available in our area, so the agent should have experience in all these fields. They should be willing to go look at these homes, take photos and/or videos, provide comparison sold and active homes, suggest repairs and contractors to assist with the investment philosophy. If holding for rentals, they should either be able to manage the properties or establish a relationship with a local property manager.
Being from Canada, they should also be willing to help you set up or research the best investment structures for you to participate in such investment. They should help with any legwork to set up corporations or LLC's, banks accounts, and any other accounts that may be needed to accomplish your investment goals.
I hope you find what you are looking for and if you have any other questions, please feel free to contact me.
Your questions the last few months have often been good and I can tell you are a serious buyer that wants to be informed. I think I would be much the same if I was considering a major purchase long distance as you are.
The $500 question: personally I look for a client to be as loyal to me as I am to them but have never ask for money up front. Might be old fashioned and have gotten burned a few times along the way but also have a very loyal client base due to the trust that is developed. You can spend all the money you want but it won't always get you honesty and loyalty which should be the fundamental basis for a relationship. A Realtor and a client have a relationship that develops and should be mutually beneficial.
I'm headed out this afternoon to view property for two out of state buyers that plan to purchase in AZ. I would be pleased to someday provide you the same level of service.
With any business transaction whenever there is money on the table people take the deal more seriously because there is a reasonable expectation of compensation for time. Within the Arizona Real Estate contracts there is a provision for retainers that are offset by commissions. You and your agents can set the terms of the retainer which is usually held by the agents broker until the money has been earned.
Your agent should give you listings for your review with pictures, have a good relationship with title, management companies, inspectors, and contractors etc to help you get the property in the condition you need for the purpose you want.
My husband and I have been in Real Estate for over 20 years and have personally had rentals and flipped properties. We handle transactions for several investors (some flip and some rent the homes). So we would love to assist you in your investments. Please feel free to contact us and we can get you all the information you need.
Steps to be taken
1. Question and answer period needs to happen first.
2. What is your objective?
3. Do you know what area you want to purchase in? If not, information should be made available to you.
4. Is the agent willing to give more service than usual as in a case like this it does require more. Some agents will require that the retainer is non refundable which is fair.
5. A search should be set up to automatically email properties to you from the MLS or you may have access to search through the agents site.
6. If you have never purchased a property in AZ the forms that we used should be explained to you in advance. A discussion should also take place in regards to our market and short sales and foreclosures.
7. The agent should be willing to view the properties and take extra pictures and/or video for you.
8. The agent should have access to docusign or something that will allow for electronic signatures.
9. The agent should be able to locate a property management company for you if they do not handle that.
10. The agent may also be needed to prepare the property for rent such as setting up appointments for handyman or painters, this can also be accomplished through the property management companies which most charge extra for these services.
11. The agent should have experience with this type of transaction.
I have an Australian investor client that I've been working with for awhile now and has purchased 6 homes over the past couple years in which I did the same thing but I don't require the deposit any longer. It's really establishing a trust factor over time. My client now really let's me pick out the homes without her because she trusts me that much and we have established a great working relationship. I think I'm fussier than she is :)
All the best!
1) Ask how much experience the agent has especially dealing with Canadian transactions. You can call me to discuss my recent transactions.
2) Ask what areas do they specialize in. Is it within the areas you are looking for. I specialize in the east valley of the Phoenix metro area. Especially Gilbert, Chandler, Mesa and Queen Creek.
3) Ask if they have have a couple of lenders that can get you financing if needed. Currently you can get Canadian financing with as little as 25% down payment.
4) Ask them if you would get direct access to the MLS so you can view all properties listed through other Real Estate agents. I work differently than other agents. I give you full access to all active homes and closed transactions in the area you are looking for. Most agents pick and choose what you can view on the MLS.
5) Ask if the agent is willing to go the extra mile by going to view homes and take extra pictures or videos if needed. I have done this plenty of times for my out of town clients.
6) Ask them if the $500 retainer will be credited towards your down payment or closing cost. Yes, I do credit the $500 to my clients if they purchase a home.
7) Ask if they get bank owned listing before they go on the market. My broker is one of the main listers of bank owned properties. At any one time, he has at least 20 soon to market homes before they hit the market. That gives our buyers a major advantage as you can imagine. He also doesn't mind telling me the price offered by other agents.
Well, these are the major questions that you need to ask any Real Estate agent. If you want to discuss the opportunities that are available, especially bank owned properties give me a call at the phone # below. Also you can search the MLS via my website below so you can see what is currently available on the market.
Have a Happy Holidays!
Mike the Arizona Real Estate King
Just wondering if you found your agent? I think most full time agents here, will serve you well, however, the first step would have been to put together a game plan and a see if you "match" with your agent. I have moved/rented/sold etc properties for clients and they probably couldn't point out Arizona on the map.
Have a BEAUTIFUL night.
They must be very good at negotiating terms for you and communication is essential. I would say that for the most part service in Arizona is a mixture of a variety of agents, some are much more proficient based on their experience level, please keep this in mind. If you need a good buyers agent feel free to contact me.
Would you like professional representation in the Arizona Real Estate market?
How could I help you?
HomeSmart Real Estate
Arizona Homes for Sale by a Guy from Iowa