Rental Property Investor · Minneapolis · Member since 2019 · 7 posts · 3 votes
First post, new to the REI world, so many questions. As I am looking for my first deal, would it be fine to have more than one agent looking for deals for me?
Rental Property Investor · Salem, OR · Member since 2017 · 696 posts · 660 votes
7y
@Andy Diaz I tell the agents I am a free agent. If they bring me a deal they get the sale. Be upfront about it. Now, this was not how I started and I am in a position now where I can dictate a bit to agents and brokers. I have had a few say they wanted buyer rep agreements and I just say no, thank you. ALWAYS be upfront and let them know. What they are worried about is them bringing you a deal and you cutting them out of it by going around them. NEVER do that, never...your reputation will bring you more deals than anything else.
Rental Property Investor · Salem, OR · Member since 2017 · 696 posts · 660 votes
7y
@Andy Diaz I tell the agents I am a free agent. If they bring me a deal they get the sale. Be upfront about it. Now, this was not how I started and I am in a position now where I can dictate a bit to agents and brokers. I have had a few say they wanted buyer rep agreements and I just say no, thank you. ALWAYS be upfront and let them know. What they are worried about is them bringing you a deal and you cutting them out of it by going around them. NEVER do that, never...your reputation will bring you more deals than anything else.
Rental Property Investor · Ankeny, IA · Member since 2017 · 2k+ posts · 3k+ votes
7y
I think you can't go wrong if you're up front about it. I imagine some real estate agents will not want to work under this system. That's ok too. But it's already been said, if an agent brings you a deal you better work through that deal with that agent and not another agent.
Rental Property Investor · Salem, OR · Member since 2017 · 696 posts · 660 votes
7y
@Anthony Wick@Andy Diaz Where I have an issue with agents and specifically with ones who want a rep agreement is this....if they bring me something off the MLS...that is not what I want...I too can spend 5 seconds setting up an alert.... Any broker who is truly going to bring real off-market deals or early deals etc isn't going to care about an agreement as they have what is valuable, the deal. Once you have a representative agreement then they get paid even if you do all the work...no thank you, I would rather give that to the listing agent and have a better chance of the deal closing. I have never bought anything other than from the listing agent for anything larger that 7 units...
Rental Property Investor · Ankeny, IA · Member since 2017 · 2k+ posts · 3k+ votes
7y
@Richard Sherman
I’ve never signed an exclusive agreement with an agent. I’ve worked with an exclusive agent in a certain area I was focusing on, with nothing in writing. And she brought me many deals, and a few of those worked out. And I’ve worked with other agents at the same time, but not overlapping areas. I like loyalty. But like you, if I find my own deal I don’t want to necessarily be held to a contract with an agent. I’m closing on a duplex next week with no agents involved.
Rental Property Investor · Salem, OR · Member since 2017 · 696 posts · 660 votes
7y
@Anthony Wick Good work! Yeah, I like you am not opposed to agents at all, but I want them to be properly motivated to bring me the deal and faster than anyone else!