BiggerPockets

Nice Spam!!! You might trying reading the forum rules.

Mike

Hey Augie . . . we don't allow members to make posts with the purpose of promoting articles or other off-site content. If you're looking to create a discussion based on articles you've written, please submit them to the BiggerPockets Bulletin. You're welcome to also start a topic for discussion here, but please do so without the promo links. This rule is strictly enforced because we get a TON of people who do nothing but come to the site to ADVERTISE and promote themselves. You're clearly not here for that purpose, but we all have the same rules to follow.

In the future, if you've got a topic you'd like to discuss, please do so without the blog plug.

Thanks!

It's possible when a realtor does what I tell him/her to do. I'm hiring a professional to do a job, to work for me not with me. I'm holding the bag if the deal ends up being a loser. He/she still keeps the commission.

For a newbie, I can see the need to confide in a RE agent, but for a seasoned investor - very seldom, if ever.

Only time a RE agent MAY be needed is to perform the following:

-help market, sell investment property
-notify, inform investor of foreclosure (REO) well below market price; bargain property in pre-listing phase.
-negotiate short sale
-confirm comps

Other than that........*shoulder shrug*
Friend or foe? Foe!

All deal making is largely about relationships, connecting, and networking. To the investor, I would imagine networking with some of the right agents might be a smart move.

*And Bryan, a good agent can do a little more for an investor than the items you listed.

Originally posted by Rich Weese

I've found that MOST realtors are useless to me. However, once in awhile I find one with decent traits that are beneficial to me.

Ok, now I know you're a real investor... :lol: The one realtor I have found useful - his usefulness has paid off for him, to the tune of around 20 or so closings a year from me.

Originally posted by David Peeples

For a newbie, I can see the need to confide in a RE agent, but for a seasoned investor - very seldom, if ever.

Only time a RE agent MAY be needed is to perform the following:

-help market, sell investment property
-notify, inform investor of foreclosure (REO) well below market price; bargain property in pre-listing phase.
-negotiate short sale
-confirm comps

Other than that........*shoulder shrug*
Friend or foe? Foe!

All deal making is largely about relationships, connecting, and networking. To the investor, I would imagine networking with some of the right agents might be a smart move.

*And Bryan, a good agent can do a little more for an investor than the items you listed.

Very true David. By no means am I trying to diminish the role of an REO agent. Maybe IMHO should have been used at the end of my statement, because after all, it is my own opinion.

Personally, never needed an agent to help me locate an investment property. Due diligence has all been done by me. Additionally, I tend to focus on FSBO's; wholesale properties; & developer/builder closeouts.

Here is a deal that a newbie investor wanted to do.

He sent me a list of 30 houses that he wanted to go look at and when I told him that he needed to get a prequalification he told me that he wanted to take over the persons house sub2 because he didn't have any money to put down.

He wanted me to drive him around for 2 weeks and then not take a commission until he sold that property in 5-10 years. He had told me earlier that he only sells his property FSBO because he don't like to pay agents.

Time and money have to be considered.
How much is your time worth? Is it profitable to delegate duties to someone else? Yes, as long as you achieve positive results.

At times, agents and investors are even competitors in the same market.

Professional relationships are made to be beneficial to each party involved.

So, I would answer friend at times and foe at times. It's what you make it at the time... time, money and effort.

Regards,

I use to think that agents were investors competitors but that is the mindstate of a newbie.

Eveyone knows that there are so many deals or homeowners looking to sell that not all agents are going to get a listing and nor will all investors get all the deals.

You have some owners that won't deal with an investor to save their house and some won't even speak to a real estate agent. Its called checks and balances.

As long as you continue to separate yourself from the other the more you are limiting your success. There is a time to use every tool in the box and one or the other just might be that tool.

Originally posted by SeeMo

I use to think that agents were investors competitors but that is the mindstate of a newbie.

Eveyone knows that there are so many deals or homeowners looking to sell that not all agents are going to get a listing and nor will all investors get all the deals.

You have some owners that won't deal with an investor to save their house and some won't even speak to a real estate agent. Its called checks and balances.

As long as you continue to separate yourself from the other the more you are limiting your success. There is a time to use every tool in the box and one or the other just might be that tool.

HUH? Investors in competition with realtors is a mindset of a newbie!??? Are you serious?

Let me give you a good example of how we are in competition with one another.

A couple of years ago, I had access to MLS database via a good friend of mine in RE industry. Each morning, I would devote a couple of hours scouring MLS in search of latest (up-to-the-minute) prospects in Seattle RE market.

Mind you, this is when the market was red hot.

Often, I ran across exceptional deals in my hunt. As soon as these deals were identified, I would contact listing agent to put home under contract - only to find out several other offers have been made on the same property.

How is this possible?

It is a brand new listing. Property has a maturation period of a couple of hours - not days, weeks, or months. Heck, many times, I would locate these opportunities before business day started. Surely, not even close to the amount of time needed for the 'average' homebuyer to see the property; and well before 'Joe Schmo' investor has been presented with investment.

Who could possibly know about these phenomenal bargains before the property has even been sufficiently marketed? You guessed it.....your licensed real estate agent.