Realtor when investing, is it needed?

Question

As a investing newbie I'm a bit curious as to the whole concept of having a realtor.

Hypothetically, let's say I found a great pre-foreclosure property that I want to buy at the asking price of $59,000. I should, and rightfully could, close on that property without a realtor.

Now can someone please tell me, why at this point, or prior to that, I would need a realtor.

I understand that I  would need a realtor to get mla listings and certain other foreclosures and reo's, but if I can find a property and close on it without a realtor....should I even bother getting one? I apologize if this question is redundant but most of the other topics haven't really answered it thoroughly.

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Sean Terry · Answer

Edward nailed it on the head.  I use a Realtor for one reason only, to determine real value of the property.  The online tools are not as effective.

Also any experienced fix & flip investors or landlord will have a Realtor which will provide them a CMA.  If they have a CMA and you don't, your at a slight disadvantage in my prospective.

I know all the comps inside and out prior to selling a property thus a cash buyer can't use low comps to negotiate the price, I can call them on there BS.

It doesn't hurt to have a Realtor friend, or you could marry one like I did.

Cheers :)

Jerry Puckett · Answer

I have yet to use a Realtor to find a deal. We do our own marketing, negotiate our own deals, and write our own contracts. In short, no, you don't NEED a Realtor.

That being said, I have developed relationships with several Realtors, and consider them a part of my team. I get more leads than I can possibly follow up on. Some people are better served by Realtors so I refer them. Some times I need help determining market rent so I call them.Short sales? No can do on my own. And when I want to flip to retail, guess who I call?

So no, I don't need a Realtor to find or close a deal. But I want my business to grow. No man is an island.

Rachel H. · Answer

Working with a Realtor is not necessary when investing. Though, it can help to have someone out there on your team with their eyes and ears open. But, it doesen't have to be your only source to find deals. The key is trying to figure out what works/what doesen't work. Hope that helps!

Realtor when investing, is it needed?

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