5 Steps to Finding the Perfect Investor Friendly Agent
If you’re looking to purchase your first property or grow your short-term rental portfolio, hiring an experienced agent to help you is something you should strongly consider.
You only want to work with an agent you trust who has vast knowledge in your specific market and specifically with short-term rentals. In other words, you want someone who knows what they’re doing. Here are some steps to take and things to look for when choosing a short-term rental agent.
The Interview Process
Because you’re hiring an agent to do a specific job, it’s important to conduct an interview with each prospect to ensure they’re qualified. And don’t just settle for the first one that looks good on paper. This is a person you’ll be working closely with and need to trust to make decisions on your behalf. Schedule interviews with several agents to get a feel of their personality, how they conduct business, and what experience they bring to the table.
What to Consider When Looking for Agents
Everyone will have their own personal preferences and requirements in mind when looking for a short-term rental agent. But, there are a few general factors to consider that can differentiate the great agents from the mediocre ones:
Self-Manages Their Own Properties
An agent who also invests in and manages their own properties will likely have more in-depth knowledge than an agent who has never owned or self-managed a rental. They know the ins and outs of the business because they have experience being on both sides, which can come in handy with the whole package of finding, setting up, and managing properties.
Has Industry Experience
You likely won’t feel completely comfortable trusting your business with someone who’s brand new, and that’s a good instinct to have. They should have extensive experience being an agent and know the expectations and responsibilities of the job. You don’t want to have to worry about their competency when they’re scoping out new properties and making deals for you.
Knows the Market Well
Whether you’re in the business of renting beach homes to families or cozy cabins to young couples, you’ll want an agent who understands your specific market. Your agent should serve as a continuous resource to find the best properties to attract your target guests and help your business grow. They can’t do this if they don’t know what to look for.
You may click with an agent right away, or it may take time to find someone who truly understands your vision. Either way, establishing clear guidelines and conducting interviews can help you find the perfect match.
