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Real Estate Agent

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Kyle Houlahan
  • Rental Property Investor
  • Tampa, Fl
12
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36
Posts

Purchase Property Myself or Through Agent

Kyle Houlahan
  • Rental Property Investor
  • Tampa, Fl
Posted Jun 17 2018, 19:52

I'm currently in the process of purchasing a property for myself. I began working with an agent a few weeks ago, but I found this property on my own. He has helped verify that the property was priced under market value by doing a quick CMA for me and he has introduced me to a colleague of his that is going to handle all of the renovations I intend to make to the property if I purchase it.

We currently have an offer out to the seller, but it is quite a bit lower than asking price and I'm expecting them to counter. I'm scheduled to take the real estate exam in about 10 days and already have a broker lined up for when I pass the exam.

My question is, if the seller counters our offer, should I continue to pursue this property through the agent I'm currently working with? Or should I wait another week or so and purchase the property as my own agent? I would stand to make around $12k commission from the purchase of the property. My concerns are that being this would be my very first property I've overseen as the buying agent, I would need guidance throughout the process. Also, I do feel some obligation to compensate the agent I've been working with since he's spent some of his time looking a this property with me, as well as introducing me to a few key people I will utilize in the future. 

Has anyone been in a similar situation and can offer some advice?

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