Real Deal REInvestor Network

Greetings!

The concept of building a 'Power Team' to help you in realizing all of your onjectives is a time tested and proven strategy. Yet most individuals choose to ignore this strategy because they feel overwhelmed at the thought of putting together their team; they don't know how to do it! How exactly do you build a team of highly trained professionals that will help you to achieve your personal real estate investment goals? Who do you choose to be a part of your team and why? How do you get experienced professionals to join your team? All of these are valid questions, so let's begin by discovering how to find the right real estate professional.

Choosing a Real Estate Broker/Agent

Here are the five questions that I ask myself prior to interviewing any real estate professionals:

1. How much do I know about this individual?
2. Do I have an existing relationship with this individual?
3. Is this individual well known in my community?
4. Does this individual work for a high profile real estate firm?
5. Is this individual an expert in the market I am specializing in?

If you are active in the real estate market where you live then you should know the answer to the majority of these questions without further research; simply choose and make contact with the Broker/Agent that you want to interview for the position. If you are not active, then talk to a handful of Brokers in your area and ask them for their recommendations on which of their agents you should contact. Most Brokers will only refer you to one of their top agents because they want your business; they will not steer you in the wrong direction!

'Hi Mr/Mrs Broker. My name is J. Angelo Rodriguez and I work with a select group of real estate investors nationwide. My team specializes in aquiring all types of real estate; residential, commercial, land, etc. I am looking for a savvy real estate professional (mortgage loan professional) like yourself who can assist me and my team in finding the right deals (financing) in this market that meet my criteria. Do you have an agent in your office that has experience in working with private real estate investors? If so, I would be interested in interviewing them for a position on my team.'

Don't worry if they begin asking you questions about what type of properties you invest in or the type of agent you are looking for, simply state the following;

'Thank you for asking! The real estate investment group that I am a part of specializes in all areas of real estate; residential, multifamily, commercial, land, etc. What I need from the agent that you recommend to me are only two things. The agent must not only have experience working with real estate investors, they must also enjoy working with real estate investors! Everything else that I need to determine whether or not this individual is the right fit for me I can assess determine during the interview process. All I'm looking for from you is two good referals!

Once you have the names of a handful of agents, then the interview process can begin! If you have numbered your prospects based on personal preference, never begin your interviews with your number one prospect! Always begin with the last name on your list and work your way up to the best candidate! Doing so will help get you into the recruiting rhythm; this way you are at your best when you speak to the candidate that is your first choice!

Introduction:

'Hi! My name is J. Angelo Rodriguez and I work with a select group of real estate investors nationwide. (I was referred to you by ___________________ who indicated to me that you might be able to help me) My team specializes in aquiring all types of real estate; residential, commercial, land, etc. I am looking for a savvy real estate professional (mortgage loan professional) like yourself who can assist me and my team in finding the right deals (financing) in your market that meet my criteria. Do you have any experience in working with private real estate investors? If so, I would be interested in interviewing you for a position on my team.'

This is the initial question I have used effectively for many years and it is still effective for me! This question has always helped me in establishing the proper foundation for what I am trying to accomplish and leaves very little room for any misunderstanding as to what my purpose is and what it is I am trying to accomplish!

'I want to thank you for agreeing to this interview to determine whether or not you would qualify to become a member of my real estate investing group. In order to determine if you would be a good fit, there are several questions that I need to ask you! Is that allright with you?

'Great!'

'Let's get started!'

Here's my 'Top 20 Questions' I ask during the interviewing-

1. In order to help me understand how best you can assist me in realizing my goals, I need to ask you two very important questions; how long have you been in the real estate business and have you ever worked with a private real estate investment group before?
2. How did you like the experience?
3. Was there anything specific about that experience that you didn't like?
4. Did you learn anything from the experience that has helped you in your own personal real estate investing?
5. What type of properties do you specialize in?
6. Are you currently active in buying or selling investment properties and if you are, have you established a network of real estate investors?
7. Most private real estate investors have a clear understanding of the type of properties they are looking for and will probably not take your advice, at least not initially, on what constitudes a great investment; Can you set aside your personal preferences and focus on the properties that meet my criteria?
8. As a private real estate investor, I'm fearless! I'll make whatever offer I consider to be appropriate based on my own criteria, not yours. In many cases, I will include creative financing options in my offer; Do you have any reservations about presenting my offers to prospective sellers because of this and will you exercise the same level of enthusiasm when presenting my offers as you would any other offer?
9. It is normal for me to make multiple offers on multiple properties at the same time, this means that you will need to flexible in handling my transactions. There will be times when you might feel overwhelmed by the number of offers I make, sometimes on the very same property; Is there any reason why you feel that you can't handle the volume I give you in exchange for the commissions you will earn on every transaction that I ask you to assist me with?
10. As the preferred real estate professional on my team, I will require that you assist me in evaluating the properties I am interested in purchasing. This means that you will assist me in determining the highest and best use, fair market value, future market value, wholesale price, marketability of the subject property, title and zoning issues, and many other variables that will help me in making a final buying decision; Do you feel comfortable in accepting this role and do you feel that you can set aside the time to help me make a full assessment on which properties I should make an offer on and which properties to ignore?
11. I am constantly using my own marketing techniques to find the right properties to purchase and in many cases will actually find these transactions on my own and hand them to you without any work on your part; will you reciprocate by actively searching for the right properties that meet my criteria for me?
12. On some occasions, I take advantage of different advertising promotions that help me to reduce my overall costs; Are you open to sharing the costs of advertising if it makes sense for you to participate?
13. On some occasions, I will launch an aggressive marketing campaign that targets the for sale by owner market and will offer clients access to services normally provided by real estate professionals; Do you have any issues providing services such as a comparable market analysis at no upfront cost for the opportunity to be in first position to list the property in the future?
14. In the past I have had success with organizing neighborhood workshops for first time homebuyers and real estate investors in order to capture leads; Is this something you would be willing to participate in as my preferred real estate partner?
15. I am always mindful of recognizing the potential tax consequences for my buyers and sellers on every transaction that I am involved in. How knowledgeable are you when it comes to tax issues that might impact both buyers and sellers on a transaction?
16. I believe in being active in my community and I expect my real state professional to support me in some of these efforts. Are you willing to work with me in being active in the community?
17. On occasion I will write a blog on my real estate community website. These blogs touch on a variety of different topic, mostly about investing in real estate. It would be wonderful if I could get an expert's opinion on current market trends, etc. Would you be willing to be a guest blogger when called upon?
18. Branding myself with the right real estate professional is very important to me! I want to make certain that the individual I choose recognizes this! Are you willing to work together to seek out innovative ways to co-brand our services so that prospects immediately think that by working with you they are working with us?
19. I know that we've spent a lot of time together discussing the things I am looking for in a real estate professional; I am appreciative of your time and I wanted to ask you if there was anything you would like to discuss with me before I ask you my final question?
20. The final question I have for you is pretty straightforward. I know I've asked you a lot of questions in regards to the type of individual I am looking for and the responsibilities this individual will have as a member of my team. Now I know I've given you a lot to think about and perhaps you might need a few minutes to think about your response but before I end this interview let me ask, Are you the individual that I am looking for?

'Great!'
I admit this process might seem a little daunting for some of you initially, but the reality is that this system isn't that difficult! With a little bit of practice, the interview can be memorized rather easily and you will be able to conduct an effective interview in no time! Feel free to play with this script anyway that you like, it isn't necessary to follow it exactly, be creative and take ownership of it! There is no right or wrong way of using this information; it is here to be used as a guide for those who will benefit from it!

The following has been provided with the permission of Mr. J. Angelo Rodriguez, the writer.

Philip J. Sherman
Billionaire in Training
MMMChallenge.com

Thanks for the forum and membership in a group whose ranks will swell and whose knowledge base will benefit all. Whether a "24" or " ...he's the one..",
I will benefit from participation and already have. 

Writing down and thinking about one's goals is a key element to success and the chance to provide same here is a good thing, whether bonuses come or not. I bring my own level of knowledge and experience. We all do. I know where I am going and that is into many conversations with sellers and buyers. Working the phones to make myself known, in order to lay a foundation of trust. That key element is a hard currency to mint and not always transfered into my bank account. But, nothing of value, either traded or acquired, comes without effort and some sacrifice. Paying the price I believe is the phrase, and my old high school football coach from the Alabama Crimson Tide school of Bear Bryant made that abundantly clear every time he asked us for that extra hundred yard dash in the fading light of a Fall practice evening.

So, welcome to the Quest my friends and best wishes to all for a good fight, fought hard and clean, knowing that it is the battle that teaches not the winners circle.