Is there realtor etiquette?

10 Replies

We are new to investing and wanted feedback from others regarding real estate etiquette. We Have one friend who is experienced in investing, and knows how to get off market properties, however admitted that they only have part time and limited availability due to some family issues. We have another friend who is a long time realtor however he acknowledged that he is not familiar with investing and doesn’t have connections for off market properties. Is it OK to call a listing agent and have them show you a property if you are already working with a realtor? Just wondering if it would make more sense for us to stick with one with limited availability that is knowledgeable, or if we should forget about our ties to them personally and look for something completely out of our circle?

@Joanne Malseed Most realtors understand that they need to bring you a deal in order for them to benefit by getting a commission. It's not reasonable for a realtor to insist that you go exclusively with them. However, if a realtor is spending the time to show you listings and drive you around to show you properties, you should use them if you want to buy a property that they've showed you. Some investors will go behind the realtor's back to contact the listing agent directly, hoping to get a better deal. This is not ok and unacceptable practice although people do it all the time. If you want to establish long term relationships and just do business right by people, don't do this.

It sounds like your realtor contacts already know that they are limited in what they can do for you. Feel free to contact as many realtors as you like until you find the ones that can really help you find the properties that you need. As long as you're upfront with what you're trying to do and don't go behind their back, you'll be ok.

just be up front with the realtor and let them know what your doing.. if they want to work with you fine if not they will let you know.. NO one drives anyone around anymore.. they just give you links to listings and you go look at them on your own..

If I was you I'd skip the realtor all together and look for off market properties because if you're looking for investing deals, you'll have to go through a LOT of MLS deals and a lot of offers before you get one accepted. I doubt any realtor is that desperate for a sale that they'll do that much work for a small commission.

@Joanne Malseed You're welcome. I use the county courthouse for eviction, foreclosure and probate cases. And word of mouth. And "for rent" or "fsbo" signs. And proprietary software. And Facebook. And roadside signs. And Craigslist. And Wholesalers. There are dozens of ways. =)

@Ian Kee I feel like a kid on Christmas! Thanks for the tips. Everything we have been doing so far has been very “conventional “ from our home searches to our finances and we are slowly learning that much more creativity is needed to get us to where we want to be as investors. We truly appreciate the BP forum and everyone taking time to clue in some clueless newbies!

Lol, glad to help. You need to be a P.I.G. = Professional Information Gatherer. Ask lots of questions to get information from sellers, really dig for the root of why they need to sell. Let them feel their pain. Help them solve their problem. You get paid to be creative and solve people's problems.