Hello Real-Estate agents,
Recently I connected with a real-estate agent (let's call him RA #1) in my local community who was very professional and responsive to my questions and would actively send me lists of properties from the MLS that matched my criteria.
During our most recent correspondence, I asked him to obtain for me a list of rental comps in my area in order to analyze a few deals I was interested in. A day later I received a reply from his business partner (RA #2) who had done the work for him. I didn't have any issues with that...but then I took something caught my eye. At the very bottom of the email, I saw that the RA #1 had forwarded my initial request for rental comps to RA #2 and wrote in his email "hey bro, let's sell this dude a property before I leave". That raised a number of red flags.
I understand that RA's make money from the commission of any property they are involved in buying or selling, but seeing this portion of the email just made me pause and further consider whether or not I should be doing business with this person.
Is this normal sales talk? Do I look for someone else?
Any advice is appreciated.
Obviously that was indiscreet but all agents want to sell you a property so I wouldn't preclude him just on that basis.
I think it's bad practice to rely on any RE agent for rent comps, they are inheiranty biased and likely to highball rent comps in my experiece. There are a few good online resources for rent comps as well as a couple crappy ones. Between Zillow, hotpads, rentrange, and good ol' Craigslist you can do a reasonable job with just your own due diligence.
First of all and before i tell my opinion, i wan to say i am not a real estate agent. I am an investor. Now, based on what you mentioned with RA1 and RA2. I am not seeing an issue here because it's common that any commission to the agent will be paid by the seller, and you are here the buyer. let's say you are a seller, the commission of selling a property is different between agents and it's negotiable. So in your case, the RA1 is helping you find a property by RA2, and when you buy the property their commission will be paid by the seller as i said above. to understand more the commission will be divided between them which mean the seller will pay the commission to the RA2 and RA2 will pay RA1. You are not involve in the commission part, however, you need to understand and be careful about the properties price in your target area. I thinks it's a normal sale talk, and there is no bad word towards you!!!!!!! He is saying to his friend "let's sell this dude a property before i leave" @Kenan Karalic
@Steve B. those things will give you a good ball park, but sometimes they can be way off. While MLS data for rent comps is not perfect, it is at least an actual recording of something that you know for sure that was rented at a certain price. Though at times the rent you can get can be higher or lower than any individual comp.
Id probably mention the email to the agent, but I wouldnt disqualify him based on it.
I wouldn't take it too personal . It's business. I would give him a second chance . Sometimes things are read a certain way but are meant to be heard differently.
@Kenan Karalic It goes without saying that the RE agent is eager to sell you a property. That's how he makes a living, so, of course he is. That being said, I'm sure he would be very embarrassed to know you saw that part of his email. I would let it go if you have liked working with him in every other way. I would also be a little extra diligent when deciding which property to buy. Don't let him push you into any home.
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