Hello all, this is my first post, and I have a couple extremely newbie questions. I'm new to the idea of real estate investing, but extremely motivated. I've been listening to as many of the podcasts as I can while at work, as I'm a driver, and it's a perfect opportunity to learn WHILE working. I even picked up a couple books I've been reading at home. Needless to say, most of my time lately has been devoted to learning about the REI world. But, I have a dumb question about real estate agents. What is the difference between real estate agents and realtors? I never hear people use the term realtor, only real estate agent. What is the best way you all have found to find a good agent? I had a great realtor when I bought my house, and I'm considering getting in contact with him again. I know he works closely with at least one other investor because my house was essentially a wholesale situation, as they bought it cheap and intended to rehab and flip it before my realtor thought I might be interested in it. So I bought it from them as is and we both got a great deal. Anyways, would it be a conflict of interest for him if he's already working closely with another investor, or should I try and get in contact with him? Thanks in advance for the advice
Andrew, welcome to Bigger Pockets. Real Estate Agents and Realtors are technically the same thing and perform the same tasks regarding Real Estate, the only difference is that Realtors are members of the National Association of REALTORS and they adhere to a strict code of ethics. While all Realtors are agents, not all agents are REALTORS. Regarding working with your past real estate agent, I don't consider it a conflict of interest as most agents are working with other investors. Working with agents that have experience in investment properties or are investors themselves are key. If you have any more questions I would love to help.
Thank you for the reply and info Sharisma. Im going to try and meet with him in the next few days and take my first steps at finding my first deal!
Just moved from Rapid City, SD myself (Escape the winter) and if you are looking for deals on the west side of SD give this guy a call.
Originally posted by @Steve Milford :
The difference has already been explained I see. As far as finding an agent that helps you - find someone you trust to tell you the truth and not shine it up. Find someone willing to tell you the bad news. When I work with investors, I look for ones that can accept bad news.
I don't think you would be able to call yourself an investor if you were unable to accept bad news. The bad news is part of investing, be it the stock market, Forex, Real estate etc.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.