We're looking for an investor-friendly real estate agent to help negotiate discounted and bank own property around Anne Arundel and Howard counties. we buy fix and re-sell. We use combination of cash and hard money lender for our projects. We want someone who is very creative in deal making and have in-depth market knowledge of these areas
I'm not saying you won't find one, but I have never had any luck locating a agent who can find a better deal than myself. The two problems I have faced with Agents are.
They are interested in closing deals not helping customers. If you spend to long find a good deal, or don't take there advice on what they think is a good deal they will move on to another client.
There business is built on relationships with other Realtors. I have yet to find one that is willing to damage their reputation by sending out a lot of lowball offers they don't think will get accepted.
I have moved away from the idea of a buyers agent. If you are mainly interested in properties of the MLS. Search for yourself. Check auction sites. Call around. Get experience in the markets you are interested in investing in so you know if a deal is good or not. Then approach the selling agent and have them represent you. If you are investing out of state then find a partner in that area and go 50/50 in with them on local deals. It is a strategy that a couple investors on this site use & I really like it.
@Rusty Thompson that's unfortunate that it's like that in your market. Personally I am an investor's agent and I only work with investors on the buying end. I'm a fairly new agent so I don't have a lot of relationships anyway and my goal coming into this was to work primarily with investors because my long-term goal is to be a full time investor. My job is to help my clients make money not make friends with other Realtors.
@Cierra Seay It is unfortunate. When I stated investing I had to drop a couple agents because they kept trying to force me to make offers on things that I could see where not good deals. It took me a while to develop my MLS offer strategy but it works great.
I think it is awesome that you are focusing on the investing side of Real Estate Agent representation. I'm curious what your track record has been submitting a bunch of low ball offers on property to see if any stick? What $$ amount properties are you offering one & what commission are collecting per deal. The reason I ask, is if I was a RE agent and I was making 100's of offers for a client, I would ask for a higher commission to make up for the extra work.
@Rusty Thompson commission is usually 3% per deal every now and then you find a listing with a flat rate amount for the buyer's agent and that's usually between $500-$1500. Because I'm just starting I'm focusing more on building relationships and finding a few key guys who I know are going to buy properties frequently. I do plan on asking for a retainer fee in the future once I build my business and my reputation as a great investor's agent in my area. I still prospect traditional sellers because marketing a listing doesn't take as much time as working with traditional buyers but on the buying side I only deal with investors.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!