Today’s REI Classroom Lesson

There are multiple ways that a realtor can provide you with benefits when they’re selling one of your properties, as Holly McKhann tells us.

REI Classroom Summary

From finding deals, listing your property on MLS, and providing you with professional photos and flyers, a realtor can help make things easier for you as a real estate investor.

Listen to this REI Classroom Lesson

Real Estate Investing Classroom Show Transcripts:

Mike: Welcome back to the FlipNerd.com REI Classroom, where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.

Holly: Hi there. Holly McKhann, your REI Classroom host of the day, speaking today on the topic of the benefits of using a realtor.

Mike: This show was sponsored by passiverental.com.

Holly: I use realtors a lot. In fact, I’ve purchased my last 100 houses from realtors that have found the deals for me. So let’s talk about some of the benefits of using a realtor to sell your house, specifically, today. So first of all, when you use a realtor, they will be able to list your house for sale in the Multiple Listing Service which people throw out the acronym, MLS. This is huge and highly relevant for you because it’s going to also filter out to many syndicated sites like Zillow, Trulia, realtor.com, and I’ve heard in my MLS, they’ve filter out to 400 plus sites. You want to get in front of the eyeballs of as many people as you can.
I’ve also heard the statistics that buyers look online. Ninety-three percent of the time which I find it hard to believe it’s not 100% of the time, but they look online first before they go shopping for homes with their realtor. They want to see the photos. They want to see the videos. They want to figure out where they want to live and generally what kind of house they want before they engage their realtor, and you’ve got to have your house on their wish list and on their shopping list. If you’re not on the MLS, that is definitely going to hurt you.
Another important benefit of using a realtor is that they will get you, or that should get you, and you should request it, beautiful pro photos, professional photos and really nice looking professional flyers. This is helpful to have their flyers inside and outside the house. When they’re outside in a flyer box with a realtor sign, neighbors and people driving by can pick it up and call you.
I’m also a licensed agent and list some of my own properties for sale that I haven’t promised to other agents, and I get calls all the time from flyers and the sign in the yard from people asking additional questions and interested in seeing the house. So having great flyers, which are going to market your home for you are a really nice benefit. And sure, you could do your own, but a realtor can probably do it better and really effectively.
Another benefit of using a realtor is you can have them give you and provide you weekly reports. I go into much more detail in the weekly reports in a previous episode. So check that out, but in quick summary, they can give you a summary of showings of the week, feedback, suggestions for improvement, as well as local activity. What’s going pending? What’s coming on the market and what your competition is? And do you need to adjust your price and do you need to do anything to improve the home to sell it?
Another great benefit that realtors provide is they can handle letting people in for inspections, maybe meeting the appraiser. If you’re worried about the appraisal come in high enough, they can provide comps to the appraiser and meet them out there and help that appraisal come in at the value it needs to. I’ve utilized realtors for this service many times, and it’s really been helpful.
So overall, a realtor can be very beneficial. And ideally, they’re going to provide more benefit to you and then their cost to you and make your life easier, better, and let you move on to your next project. If you’d like some more tips and tricks and strategies for me, check out my podcast called “The Secrets to Real Estate Investing” by House Flip Masters on iTunes and Stitcher Radio. Holly McKhann, signing off for now.

Mike: Passiverental.com is your source for turnkey, done-for-you rental properties. If you’d like to be an investor and not a landlord, please visit passiverental.com to learn how to purchase cash flowing, professionally managed rental properties in the hottest rental markets across the country. We can also help connect you with financing for your next property. Invest the easy way today and get started by visiting passiverental.com.
Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of Flipnerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.
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Holly McKhann is a full-time real estate investor and works with her husband Scott, having done over 200 fix and flips together in Southern California over the past five years. Holly began her career as a CPA, working for Ernst & Young. She also earned an MBA in finance. Scott is a registered civil engineer with a decade of experience at public home builders. Their blend of expertise and experience has attracted multiple investors, allowing them to expand their business. They used to buy homes exclusively at trustee sales, but now Holly focuses on relationships with realtors to find the flip deals that work. They own 12 rental units, mostly single family homes, all in Southern California. She raised over $3 million through trust deed investments. Holly loves working from home and enjoying her freedom as an entrepreneur. Holly has been married 23 years and has four children ages 13, 15, 18, and 21 and lives in Dana Point, CA.

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