How to Build an Investor-Friendly Brokerage by Being an Investor with Jon Bombaci
For prospective real estate investors, aligning with an agent well-versed in catering to investors' needs can be game-changing. These professionals have the understanding to ask the right questions and provide guidance throughout the property search. In this episode of Zen and the Art of Real Estate Investing, Jonathan interviews Jon Bombaci, founder of Candor Realty, powered by FourPoints, in Massachusetts. With a team of over 30 investor-friendly agents, Jon's brokerage serves the unique needs of investors. Backed by decades of experience in real estate investing and insurance, Jon brings a breadth of knowledge from numerous on- and off-market transactions.
Jonathan and Jon explore Jon's initial steps into real estate investing—a college house hack—and the lessons he learned from that experience. Jon shares what steered him toward a full-fledged commitment to real estate investing, ultimately leading him to establish an investor-centric brokerage. Jon explains why obtaining a real estate license isn't a prerequisite for investors and instead emphasizes building trust and fostering long relationships within the investor community. Jon also outlines the questions investors should ask before hiring an agent, underscoring why adopting an investor mindset for traditional buyers and sellers can be beneficial. He’s also a big believer in meetup groups because they can offer incredible education for new investors. Finally, Jon reveals why he spends very little money on marketing—and it all comes back to networking.
Some topics Jonathan and Jon explore more thoroughly include:
Not all real estate investors need a real estate license. It may be unnecessary in most cases.
Jon Bombaci views real estate as a team sport. He believes in building long-term relationships with his investor clients, and when they’ve outgrown him, he’s happy for them. Hopefully, when opportunities arise, they’ll return for Jon’s expertise when needed.
Jon requires new agents and clients to attend at least one of his meetups per month. It gets them involved in the community, builds a network, and educates them about investing.
If your network is strong, you may not need to spend much on your marketing budget.
Jon Bombaci thoughtfully and intentionally built a thriving real estate investing network and wants you to know what he’s learned to help you succeed.
If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out http://www.trustgreene.com/podcast/zen/119.