The Importance of a Realtor When Considering Investing in Real Estate
Blog by Marcie Panah BSc, MA Personal Real Estate Corporation | November 17th, 2016
There’s always the question that floats around people who are interested in investment properties. Do I really need a real estate broker? Most people assumes that finding a piece of investment property sounds as simple as investing in whatever area that’s in the hot zone. And with the information available this day and age, some have the misconception that they can be their own expert. The theory is why spend extra money for “expert” opinions when I can find all the information on-line. So why spend extra money on a realtor? With close to 15 years of experience, I cannot stress enough the importance of having someone with professional knowledge on your side, especially when you are looking into an investment piece. I have heard too many stories where buyers purchased a property that doesn’t have appropriate zoning for their development plans or buyers who are left hanging because they aren’t aware of hidden constructional defects. Yes, it’s easy to find properties with the internet nowadays, and everyone seems to have “expert” opinions on where to invest. But a property that suits your friend Bob might not suit you. As a commercial real estate specialist, your broker not only go above and beyond to find you the perfect investment property that yields the highest return but they also put into consideration your unique situation; both financially and personally. Investment properties are different from owner occupied properties in that when there’s no growth in a owner occupied property, you are still in need of it; however, an investment that do not generate sufficient income, it puts a damper on all aspects of your life. As brokers, we cannot control the market, but we do put into consideration the risks on each piece of property and choose only the ones that are beneficial for your portfolio in your unique situation. We pay attention to every nook and corner and make sure that there’s no flaw in the property. And if there’s any, it won’t cause you an arm and a leg to fix. We also investigate properties in the surrounding area which might affect your future plans for the property. There are many more that we do behind the scene and only those with experiences will think of taking the extra step. But of course, there are bad apples everywhere so when choosing your investment broker, be sure that he or she takes the time in knowing about you. Afternall, an investment property deal is more than a transaction, it’s a relationship that have lifelong effects.