1031 AGENTS

How We Choose The Real Estate Agents We Recommend
By Maxine Golden, The 1031 Exchange Lady

Thank you for considering working with me, Maxine Golden, “The 1031 Exchange Lady.” 

ABOUT ME

I am a longtime licensed real estate agent and broker in California (license #00426234) and more recently in Oregon (license # 201225449). I have also previously been licensed in Idaho.

In addition, have earned several special designations, including:

  • Certified Residential Specialist (CRS)
  • Accredited Buyer Representative (ABR)
  • Seniors Real Estate Specialist (SRES)
  • … and others.

HOW WE QUALIFY YOUR AGENT FOR A 1031 EXCHANGE

I recommend real estate agents all across the country.

I have been referring real estate agents, and been referred by other real estate agents, for decades. And over that time, I’ve developed a process of qualifying agents that I believe gives the highest chance of success for you, the client, and all involved.

I customize these steps for 1031 exchanges – the client, the location, and the needs – with many follow-up questions based on the initial answers.

HERE’S THE STEPS:

  1. THE CLIENT INTERVIEW
    First, I interview the client with these questions and others.
    1. What location are you selling in?
    2. What location do you want to buy in?
    3. What type of property are you looking for?
    4. We discuss how this type of property might match with the 1031 exchange rules.
    5. We discuss how this property’s price range might match with the 1031 exchange rules.
    6. What is your timeline?
    7. What is your previous experience in buying/selling residential properties?
    8. We get a sense of how you work best, so when we speak to your prospective agents, we choose the ones where you’re likely to have good chemistry and similar communication styles.
  2. RESEARCH AGENTS THAT WILL MATCH
    Here’s roughly how I do my research.
    1. I consider my long list of agents I’ve worked with before, all across the country, to see if they’re in the relevant area to match this client.
    2. I research real estate agents in that relevant area who have earned the special CRS (Certified Residential Specialist) designation. These are agents who, like myself, have had more years of experience, have had a higher than average number of successful transactions, and have developed greater expertise than agents in general. 
    3. If there’s no CRS available in the relevant area, I gather recommendations from my connections, and look for people with other advanced certifications that demonstrate appropriate additional expertise.
    4. Then I interview the agents, and I ask a number of questions to get a sense of their methods and personalities, including:
      1. I discuss their level of knowledge about the 1031 Exchange process, and who they will be working with as closing officers and Qualified Intermediaries.
      2. What is their response time?
      3. a. Do they handle transactions themselves and work directly with the clients? [Best answer!]
        b. Do they have assistants handle the transactions? [Not as good] 
      4. Are they willing to work with me as a 1031 advisor for the client?
        [This 1031 advisory work is at no extra fee to the client].
    5. After the interviews, I usually provide the client with a choice of 2-3 real estate agents that the client can interview.
    6. We advise clients to look for the agent where there is good chemistry and similar communication styles.
  3. MAINTAIN CONTACT WITH AGENT AND CLIENT
    In my approach, my job as a referring agent is not over until your transaction is complete. Here’s what I do during the course of the transaction.
    1. Stay in contact with the client.
    2. Stay in contact with the agent(s).
    3. Stay in contact with parties such as the Qualified Intermediary, accountant and others to make sure deadlines are met to qualify for the tax benefit.
1031 Exchange Lady