Real Estate Investing Basics

Information Is To Investors As Yin Is To Yang

Expertise:
18 Articles Written
As promised, I’m going to circle back and cover a few pre-contract concerns that have to do with due diligence and determining value. I also want to address the importance of not falling into the trap of what I will Anti-Real Estate Agentism – AREA for short. Not only do first time investors benefit from [...] View the full article: Information Is To Investors As Yin Is To Yang on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

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    Joshua Dorkin
    Replied over 11 years ago
    On AREA, Mike, I agree that a good agent can be a tremendous help, but a bad one could be a catastrophe. I’ve worked with and alongside some BAD ones, and I can see why many people have AREA Syndrome. I would if I didn’t know better.
    Mike Farmer
    Replied over 11 years ago
    I agree. And in my lifetime I have chosen bad service providers because I neglected to do my homework — I think it pays to choose based on criteria of experience and knowledge and to interview several agents before making a decision. I think sometimes we forget that not every professional is the same — I’ve made the mistake of choosing a doctor, a far more serious mistake, based on the erroneous idea they are all trained and competent — that’s when I knew less. Reply Report comment
    Mike Farmer
    Replied over 11 years ago
    I agree. And in my lifetime I have chosen bad service providers because I neglected to do my homework — I think it pays to choose based on criteria of experience and knowledge and to interview several agents before making a decision. I think sometimes we forget that not every professional is the same — I’ve made the mistake of choosing a doctor, a far more serious mistake, based on the erroneous idea they are all trained and competent — that’s when I knew less.
    Greg H.
    Replied over 11 years ago
    I’m on the same page. I think most people should get a real estate agent. The problem is that many buyers are in too much of a hurry to pick out the right agent, and the right house. When they have remorse, they do not look in the mirror, they think about the agent and their commission. Buyers should choose an agent that will educate them.
    Rick Marnon, Novi
    Replied over 11 years ago
    This could be one of the most important thing that a real estate agent could do at this time. I have been reading Stephen Covey’s ‘The 7 Habits of Highly Effective People’ and he says that in order to build trust with others we need to be honest and make good deposits in our trust account with people. Anymore today the shady agent, or mortgage guys will not be able to last with how much info is already online for home buyers and sellers. You need to educate, so that shoppers can make an educated decision. Great post.
    Rick Marnon, Novi
    Replied over 11 years ago
    This could be one of the most important thing that a real estate agent could do at this time. I have been reading Stephen Covey’s ‘The 7 Habits of Highly Effective People’ and he says that in order to build trust with others we need to be honest and make good deposits in our trust account with people. Anymore today the shady agent, or mortgage guys will not be able to last with how much info is already online for home buyers and sellers. You need to educate, so that shoppers can make an educated decision. Great post. Reply Report comment
    Rick Marnon, Novi
    Replied over 11 years ago
    This could be one of the most important thing that a real estate agent could do at this time. I have been reading Stephen Covey’s ‘The 7 Habits of Highly Effective People’ and he says that in order to build trust with others we need to be honest and make good deposits in our trust account with people. Anymore today the shady agent, or mortgage guys will not be able to last with how much info is already online for home buyers and sellers. You need to educate, so that shoppers can make an educated decision. Great post.
    Mike Farmer
    Replied over 11 years ago
    Thanks Greg and Rick. I agree that things are changing — both buyers and agents are going to have to be smarter. Information is the name of the game — not just gathering factoids, but analyzing information to determine what it’s saying — placing it in context.