In this video, Real Estate Broker Eric Andrews goes over the importance of selecting an agent with personal experience and who practices what they preach. – Buying land? You should probably use an agent who owns land. – Buying in Chatham County? You should probably use an agent who actually lives in Chatham County. – Buying a farm? You probably want a real estate agent who has worked with farms.
Speaker 1: What does it mean when a real estate agent should practice what they preach?
Eric Andrews: Well, if somebody comes to an agent and they say, “I want to buy a farm,” or, “I want to buy a home with acreage,” do you really want to use the carry agent that lives in a little tiny subdivision on a quarter acre? Probably not. They don’t have the same experiences as you do. And if you’re going to buy in Chatham County, you should use an agent that actually lives in Chatham County. And we cooperate with a bunch of agents from Wake and Orange County, Raleigh, Durham, Cary, Chapel Hill, Apex. I know all those agents, a lot of great top producers but I just don’t feel as though they know Chatham County like someone who actually lives here.
I think if you’re going to buy some raw acreage, if you’re going to buy some raw land, I think you should ask the agent, “Hey, do you have any raw land? Have you bought any raw land yourself as a future investment?” If they say no, that’s probably not the best agent to use. If you’re going to buy some land to develop it, I would ask that agent, “Have you ever developed land yourself?” And if they haven’t developed any land, then I don’t think they have the experience. Yes, they have the ticket, they have the license, they have the card to get you there. They can write up the contract, but they don’t know what the hell they’re doing. You have to have some street cred and everything.
I have a lot of investors, they say, “Eric, is this a good rental residential property?” I own residential rentals and so we could look at the numbers and I say, “Well, this is what I like about mine.” If you’re buying investment properties with your neighbor and just because they have a real estate license, I think you should ask them, do they have any investment properties themselves? And if they do, great. If they don’t, then I don’t think they have the personal experience to help you in these kinds of transactions. They they got to practice what you preach.