Using multiple realtors at same time

Buying & Selling Real Estate
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Using multiple realtors at same time

Bienes Raices
Orlando, FL · Member since 2009 · 2k+ posts · 282 votes

Is this considered an OK practice, or should I stick with one? I'm talking about a buyer's agent. I would not be signing an exclusive buyer's agent agreements.

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Don KonipolBusiness Member
Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
17y

I know real estate brokers hate to hear this, but my experience in 30 years of real estate investing bears this out. Utilizing one agent on an exclusive basis to find deals results in being presented with any good deals he has and all mediocre deals every other agent has. Utilizing several good agents results in being presented with any good deals all those agents have. Unless an agent has a specialized expertise in a certain area or in a certain property type, the typical property search consists of running an MLS search using certain parameters, emailing you a copy of the results, and asking you to pick which ones your interested in. All of which you can do yourself in less time with half the hassle.

Private Mortgage Financing Partners, LLC
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  • Jesse Ramirez
    Specialist · Las Cruces, NM · Member since 2009 · 557 posts · 71 votes
    17y

    It's not only OK, but the smart thing to do! Market your property to buyer's agents and find out if they have anyone who might be interested.
    Entice them with the promise of a double dip if their buyers offer anything close to full price.

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  • Michael K.
    Investor · Milwaukee, WI · Member since 2009 · 89 posts · 44 votes
    17y

    So long as you're up front about this with each Realtor in your non-exclusive Buyer Agency contracts, no problem.

    Not so up front, or "accidentally" ending up in an exclusive contract (Don't laugh; it has happened.)? I really do hope that you have "bigger pockets" to cover multiple commissions!

    Mike

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  • Steve Babiak
    Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    17y
    Originally posted by Michael Kwiatkowski:
    So long as you're up front about this with each Realtor in your non-exclusive Buyer Agency contracts, no problem.

    Not so up front, or "accidentally" ending up in an exclusive contract (Don't laugh; it has happened.)? I really do hope that you have "bigger pockets" to cover multiple commissions!

    Mike


    Investors,

    Just don't sign any "exclusive" contract with any realtor. Many of them try to get you to sign it, but you are allowed to refuse and I suggest you do so for your own good. That way, if it doesn't work out with that realtor, you move on to another without any obligations to the one who didn't cut it.

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  • Bienes Raices
    OP
    Orlando, FL · Member since 2009 · 2k+ posts · 282 votes
    17y

    Thanks. I wasn't asked to sign any agreement when I bought my own house, so I don't think it will be a problem avoiding it this time either.

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  • Don KonipolBusiness Member
    Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
    17y

    I know real estate brokers hate to hear this, but my experience in 30 years of real estate investing bears this out. Utilizing one agent on an exclusive basis to find deals results in being presented with any good deals he has and all mediocre deals every other agent has. Utilizing several good agents results in being presented with any good deals all those agents have. Unless an agent has a specialized expertise in a certain area or in a certain property type, the typical property search consists of running an MLS search using certain parameters, emailing you a copy of the results, and asking you to pick which ones your interested in. All of which you can do yourself in less time with half the hassle.

    Private Mortgage Financing Partners, LLC
    WebsiteView Page
    1Reply
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