Updated over 6 years ago on . Most recent reply
Out of State Realtor Expectations for Realtor
What are your expectations of your realtor?
How often should a realtor be in contact? If a realtor sends us a deal and we want to "walk the property", how long after telling the realtor you are interested in the property would you expect to be able to "walk the property"?
We are new to out of state investing. We have gone through two realtors. One because he never sent us any deals. The Second sent us quite a few deals, but was unable to make time to walk the properties for another ten days after we had indicated interest in pursuing them. In that time frame the better of those deals were gone. Upon speaking to her about the importance of timing she said she was too busy to see deals quickly and recommended we find another realtor.
Note: We are pre-approved for a homestyle renovation loan and have proof of necessary funds.
Most Popular Reply
Your expectations get to be whatever you decide on. It sounds like you need to move on. When you are speaking with future realtors make sure you are honest and clear about your expectations. That way you both have buy in about what you should experience. If they tell you 48 hours, then they should expect to be held to that within reason. It's hard to gain traction before you have any track record, but not impossible.
Our realtor provides go/no go based on neighborhood with some rough ARV and rental analysis. Does a video walkthrough of the property. Arranges for our contractor to access the property to determine rehab costs. Then writes the purchase agreement. We both know the numbers I am looking for and if she goes to a property we are always submitting an offer (sometimes very low). But she gets a fee or commission on anything we buy and we don't send her out on things we aren't willing to offer on.