There are many facets to real estate investing and they all need to be done successfully to make a profit. Arguably the most important choice is the real estate agent you hire to handle your real estate transactions. The real estate agent is critical to the success or failure of a real estate investor, so it pays to choose the right one for you.

Time is of the essence in real estate investing, but not taking the time to find the right real estate agent to handle your real estate transactions could prove costly in both lost time and lost money. Here are some suggestions for choosing the right real estate agent. Following these can improve your chances of getting a better real estate agent and a better deal on your real estate transactions.

Research, research, research! This point cannot be emphasized enough. Taking the time to do your homework on real estate agents in the area you intend to do business in will save you money and hassle.

Local knowledge of real estate market conditions is priceless. The right real estate agent can keep you abreast of changes and legalities in the real estate market. Choose the right real estate agent and you’ll have access to this knowledge, helping you make the best decisions.

Start by contacting realtors in the area you’re interested in doing business with. The quickest way to locate real estate agents is on the web, yard signs, local better business agencies, and the Board of Realtors, to name a few. One of the best ways to find a good real estate agent is to visit your local real estate investment association or club, often known as a REIA. Here you will find many agents who are experienced in dealing with investors.

You’ll also be able to get referrals from your peers, many of whom have faced the exact same obstacles as you. These referrals are often great, because many of them understand the nature of your business, especially if you’re involved in creative real estate investing.

Once you’ve contacted and scheduled interviews, it’s a good idea to have some basic screening questions ready (tailored to your needs as a real estate investor). Here are some sample questions:

1. Can this real estate agent help you run comparisons and get sales history from your local MLS?

2. If you are selling at retail, see if you can get a discount listing deal from them.

3. Find out if they work in REO.

4. What buyers/investors are you working with that they can send you about their properties?

5. What experience does the Realtor have working with real estate investors? Can you check references for some of the current real estate transactions?

6. Will your Realtor be dedicated to you? How quickly will they return your calls and how much time do they have to handle your real estate transaction?

Again, these are just a few questions to get you started. As you gain more experience, you will develop your own checklist.

Once you’ve completed the interviews, it’s time to sit down and review each real estate agent you spoke with. Consider all the facts. Which real estate agent did you feel most comfortable with? Which ones were too aggressive or not aggressive enough? Which real estate agent carefully considered each question before answering? What real estate agent was honest enough to admit it when he didn’t know the answer to a question? This is where your intuition will come into play.

For those real estate agents who make the final cut, they will need to check for licenses, training, and endorsements from the major real estate departments in their area. These licenses provide some protection in professionalism as it pertains to the real estate agent.

You’ll also want to discuss with the real estate agent what their terms, conditions, and fees are for the contract they’ll ask you to sign. Ask if your fees are negotiable. There are many things to consider in all of this.

Once you’re satisfied, it’s time to choose the real estate agent that’s right for you. Investing in real estate involves some of the most important decisions you will make in your life. It is wise to have as much support as possible to make the right decision.