Yes, once you becaome an agents client their feduciary duty is with you. Most of the actual value of a good agent is risk mitigation and avoiding issues - none of that is visible to the general public.
While it is easy to find an agent, it can be difficult to find a good one. As an investor I could never find an agent who knew more than I did, so I finally gor licensed myself in 2015.
Expertise comes from experience, most agents close about 5 deals a year, that's national average and the vast majority of agents, many are part time. Proficency starts at about 24 deals a year and top agents will do 50 or more.
A good agent will tell you what you need to know, not what you want to hear. They are educators and not sales people. BP is a good place to find one local to your area. Or you can PM me and I can suggest someone, I have access to a national database.
Yes, once you becaome an agents client their feduciary duty is with you. Most of the actual value of a good agent is risk mitigation and avoiding issues - none of that is visible to the general public.
While it is easy to find an agent, it can be difficult to find a good one. As an investor I could never find an agent who knew more than I did, so I finally gor licensed myself in 2015.
Expertise comes from experience, most agents close about 5 deals a year, that's national average and the vast majority of agents, many are part time. Proficency starts at about 24 deals a year and top agents will do 50 or more.
A good agent will tell you what you need to know, not what you want to hear. They are educators and not sales people. BP is a good place to find one local to your area. Or you can PM me and I can suggest someone, I have access to a national database.
As agents, we should know the market - sale price points, rental numbers, DOM, preferred locations, etc. If your agent does not know this then I would strongly suggest looking for a different one.
A good agent will also have connections for you - a lender, an inspector, a property manager, contractors, etc. They will make the process less nerve wracking for you if you are a beginner.
If you are clear on exactly what type of property / return you are looking for, good agents will also be able to send you deals as they hit the MLS or they may even have access to off market deals from time to time.
@Sumit Sehgal in addition to the spot on responses from Marcus and Joe, I would say YOUR specific goals for investing set the expectations you have of your Realtor. While every Realtor has basic responsibilities that include a fiduciary duty for certain types of relationships, you will need to find a Realtor that can add value in the areas that you need.
A "first time home buyer pro" Realtor is likely not going to add value to your team while a Realtor who's also an investor is more likely to know what you need and are looking for but they may not have the time to dedicate to helping you build your investment business. You need someone who is hungry and knowledgeable because you'll need to submit lots of offers, quickly with market data to drive your analyses.
Their job is to make the highest amount of profit possible for themselves and their agency which is typically done by selling a property to you or for you t
At the highest possible price they can get you to pay . Most can’t pick their own nose much less a good investment which is why I don’t waste time with them
Their job is to make the highest amount of profit possible for themselves and their agency which is typically done by selling a property to you or for you t
At the highest possible price they can get you to pay . Most can’t pick their own nose much less a good investment which is why I don’t waste time with them
Even though you chose pretty harsh words, I can't totally disagree when you describe "most", maybe I would say "many". I have been an investor much longer than an agent, so I know that perspective very well. And I have to deal with a cross section of agents all the time, because I can't choose who is on the other side ..
The type of agent you describe usually perfroms in the bottom percentile, because they don't get any repeat and referrals business. It is like running a restaurant: if you food and service is so bad and you charge the most you can, nobody will ever come back...