There are a lot of realtors in Philadelphia. Very few agents truly take each and every investor into there own hands and give them all they have. It's important to find an agent that can show you as many properties as you need in order for you to feel comfortable. The investment world can be a bit crazy. When you do find an agent willing to give you as much of their time as possible you know you have built a good relationship. As a realtor and new investor, even I have found it beneficial to find the right agent to guide you through the process.
Are you offering your services as an agent? I am looking for an investor friendly agent who doesn't mind answering a few questions. The ones I've been talking to don't seem to think I'm important enough to answer, so I've been keeping a list of them so I know who NOT to deal with when it comes time to sell
Hi @Richard Fields & @Sam Akif I have not been on BP in a long time.... But I am a true investor friendly agent in Philadelphia I have noticed a lot of agents have begin to use that title but what many mean is that they will work with an investor the same as they will work with any other buyer or seller not that they understand investors, their needs, their numbers, or the market information they need to be successful.
@Shakeira Ingram If your investor friendly please make sure you get on my buyers list and let's connect as I have a good amount of off market inventory in the Philly area. We currently have about 10 off market deals going on currently.
@David Bokman I will send you my email address. I work with a number of cash buyers. Thanks!
I got a kick out of this thread, so far anyway. Investor friendly agent, how about an agent friendly investor?
"Investor friendly" means are you willing to do things my way, depends on what it is and the issue is investors don't know what a Realtor can and cannot do, that's the problem.
Most investors probably haven't heard the old term a "china egg" you work with it, answer all the angles, hope it will lead to a good meal and you crack it open and there is nothing there! Realtors or other sales people starve working with china eggs.
Poor Realtors aren't really in the education business, unless you pay them to teach you they may never earn a dime, so why use them as your tutor?
Now, if the questions are specific to a property or area, that's different, they need to inform you of the market. Asking them to find you a property at 50% of its value is rather silly, several reasons why but if the investor really knew real estate they'd understand why that's not a reasonable request.
The "lingo" is different, what the investor may call wholesaling the Realtor may call it a net listing, so investors need to know the lingo used on both sides of the table.
Investors as a group have no rules or regulations or ethical requirements (besides acting lawfully) but Realtors are restricted by ethical codes, rules of a broker and regulatory matters at the state level. The investor who deals as if it's the wild west should know if what they are asking a Realtor to get involved with meets the requirements they must work under.
If you don't, you end up asking them to break laws or deal unethically, that's when they look at you like you're nuts and walk off. At least the good ones do.
All Realtors I know of love investors, love to work with them and do actual deals, getting paid. It's not about the Realtor being friendly, it's the investor who isn't so friendly in this arena.
It doesn't take but a few hours to understand how Realtors must conduct their business, what plays on their business in co-brokerage aspects, with their broker, with the real estate commission and their ethical duties.
Good luck :)
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing