Is it necessary to involve a real estate agent when inquiring about deals?

Buying & Selling Real Estate
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Is it necessary to involve a real estate agent when inquiring about deals?

Branden Wintermyer
Rental Property Investor · Harrisburg, PA · Member since 2019 · 27 posts · 10 votes

Do I need to use a real estate agent besides the listing agent for inquiring deals? I feel like I am an annoyance and that it’s just a waste of time calling a real estate agent to have them call on a deal when I can just call the listing agent directly. Personally, I just feel like its easier and wastes less time going directly to the source and calling the listing agent. Is there a reason why I should be funneling all my inquires and questions through an agent that’s not listing the property? Is there a reason to be loyal to one real estate agent? 

Thanks!

Branden

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Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y

A good realtor will be on top of all your requests. No, you do not need a realtor to purchase real estate, it is a good idea to have one. 

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  • Eliott Elias
    Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
    3y

    A good realtor will be on top of all your requests. No, you do not need a realtor to purchase real estate, it is a good idea to have one. 

    3Reply
  • Richard F.
    Honolulu, HI · Member since 2008 · 3k+ posts · 2k+ votes
    3y
    Aloha,

    It really depends on your knowledge/experience level. In general, a decent Agent can be a great resource for lenders and their various programs; for information regarding local zoning, restrictions, special districts, permitting and much more; directing you to resources for school and crime info; and of course locally "normal" time frames and other variables that you normally address in your purchase offers. Of course, it is critical to understand WHO the Agent is representing, and what their limitations are in that capacity. Those limitations differ if they are representing the Seller; or you the Buyer, as a Buyer's Agent; or you the Buyer as a "customer"; or both parties as a Dual Agent. It should also be noted, RE Agents are just that...they are not experts with insurance, contracting, legal matters beyond the contracts they normally work with, engineering, and have no magic view into the future. They do not have all the answers...but they should know most of the questions!

    At a more basic level, if you are just familiarizing yourself with the local market and looking at listings that are available on the MLS, any member Agent can easily provide a wide range of information on listings; local statistics, including historical info; and less obvious marketing info for specific areas they are focused in. Often you can receive emailed listings within minutes of them becoming active, or perform frequent searches on very specific criteria. It is common these days as a member of the MLS to also have access to Property tax info which often includes tax assessment values, permitting info, plot maps, deeds and mortgage info, and much more for the subject property.

    As with all aspects of real estate, there are good Agents and bad. You need to find one that fits with your personality and needs for a long term relationship that ultimately will benefit both of you. Some are only after the next commission, but there are many that are in it for the long term.  
    2Reply
  • Steve K.
    Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes
    3y
    Quote from @Branden Wintermyer:

    Do I need to use a real estate agent besides the listing agent for inquiring deals? I feel like I am an annoyance and that it’s just a waste of time calling a real estate agent to have them call on a deal when I can just call the listing agent directly. Personally, I just feel like its easier and wastes less time going directly to the source and calling the listing agent. Is there a reason why I should be funneling all my inquires and questions through an agent that’s not listing the property? Is there a reason to be loyal to one real estate agent? 

    Thanks!

    Branden


     Some people even recommend it as a strategy to get a lower offer accepted, but using the listing agent like that is like using your wife's attorney in a divorce. Every part of the contract and buying process either benefits the seller or the buyer. How do you think the listing agent will treat you as the buyer, when they have a fiduciary duty already to the seller? A good listing agent knows a dozen ways to screw an average unrepresented buyer if they want to, without the buyer ever even knowing it. A good buyer's agent is the most important part of your acquisition team. 

    2Reply
  • Henry ClarkPro Member
    Developer · Member since 2020 · 4k+ posts · 4k+ votes
    3y

    From what aspect are you asking?  Your prior posts are looking to do wholesaling.  

    Is your question from a wholesalers standpoint?  Or from a Buyers standpoint?  

    1Reply
  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    3y

    @Branden Wintermyer As an experienced investor I would go directly to the listing agent. But many investor buyers are better off with an agent looking for you. 
    if you are flipping properties, then the agent that finds the deal should be the agent that gets the listing to resell. That can build a loyal agent who feeds you deals. 
    if you are just looking to wholesale deals, in today’s market it may be a waste of time looking at listed deals. 

    2Reply
  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    3y
    Quote from @Branden Wintermyer:

    Do I need to use a real estate agent besides the listing agent for inquiring deals? I feel like I am an annoyance and that it’s just a waste of time calling a real estate agent to have them call on a deal when I can just call the listing agent directly. Personally, I just feel like its easier and wastes less time going directly to the source and calling the listing agent. Is there a reason why I should be funneling all my inquires and questions through an agent that’s not listing the property? Is there a reason to be loyal to one real estate agent? 

    Thanks!

    Branden


     No, I never use an agent, the do not have the deals for the most part. 

    1Reply
  • Branden Wintermyer
    OP
    Rental Property Investor · Harrisburg, PA · Member since 2019 · 27 posts · 10 votes
    3y

    @Eliott Elias Thanks for the insight on having a real estate agent. I appreciate the help!

    0Reply
  • Branden Wintermyer
    OP
    Rental Property Investor · Harrisburg, PA · Member since 2019 · 27 posts · 10 votes
    3y

    @Richard F.,

    Thank you for sharing such an informative and insightful post about the role of real estate agents. Your points about the knowledge and experience level of an agent and their ability to assist clients effectively resonated with me. I appreciate the emphasis on understanding who the agent represents and their limitations in that capacity, as this clarity is vital in establishing a successful working relationship.

    Your explanation of the range of information that a member agent can provide, especially when it comes to local market statistics, historical data, and access to property tax information, was incredibly helpful. It's great to know that agents can offer valuable insights into listings, areas of focus, and other relevant factors that influence purchasing decisions.

    Once again, thank you for sharing your expertise and insights through this post. It was truly valuable and has provided me with a better understanding of the role of real estate agents.

    0Reply
  • Branden Wintermyer
    OP
    Rental Property Investor · Harrisburg, PA · Member since 2019 · 27 posts · 10 votes
    3y

    @Steve K. 

    Your emphasis on the role of a buyer's agent as a vital member of the acquisition team is valid. Having a dedicated buyer's agent ensures that someone is actively working to protect my interests throughout the contract and buying process. Their expertise and knowledge can help me navigate potential pitfalls and provide valuable insights to secure the best possible outcome.

    Thank you for shedding light on the significance of having a buyer's agent in real estate transactions. Your post has prompted me to prioritize finding a dedicated agent to assist me in future acquisitions.

    Thanks!

    Branden

    1Reply
  • Branden Wintermyer
    OP
    Rental Property Investor · Harrisburg, PA · Member since 2019 · 27 posts · 10 votes
    3y

    @Henry Clark This was from a Buy and Hold standpoint. I am looking to wholesale but when I find a Buy and Hold that suits me I will try to by that for my own portfolio. 

    Thanks,

    Branden 

    0Reply
  • Branden Wintermyer
    OP
    Rental Property Investor · Harrisburg, PA · Member since 2019 · 27 posts · 10 votes
    3y

    @Ned Carey

    Your suggestion for experienced investors to go directly to the listing agent makes sense, as they can navigate the process independently. However, having a dedicated agent who understands your investment goals can provide valuable support and guidance throughout the buying process.

    I found your point about the symbiotic relationship between flipping properties and the agent who finds the deal and subsequently lists it for resale intriguing. Building a loyal agent who consistently brings you deals can be a mutually beneficial arrangement!

    Thanks!

    Branden

    0Reply
  • Henry ClarkPro Member
    Developer · Member since 2020 · 4k+ posts · 4k+ votes
    3y
    Quote from @Branden Wintermyer:

    @Henry Clark This was from a Buy and Hold standpoint. I am looking to wholesale but when I find a Buy and Hold that suits me I will try to by that for my own portfolio. 

    Thanks,

    Branden 


     If you’re wholesaling I would use an attorney and not an agent.  Otherwise I always use an agent. 

    0Reply
  • Trevor Richardson
    Real Estate Broker · Reno, NV · Member since 2023 · 267 posts · 297 votes
    3y

    You should use Chat GPT to respond to answers, it saves a ton of time.

    1Reply
  • Ethan Gidcumb
    Lender · San Diego, CA · Member since 2022 · 130 posts · 75 votes
    3y

    I would recommend finding your own agent, not the listing agent,  because then you have somebody dedicated to finding the right property for you and they may have insight on Off-market deals as well. 

    1Reply
  • Nathan McBride
    Real Estate Agent · Baton Rouge, LA · Member since 2017 · 82 posts · 85 votes
    3y

    If the property is listed, I don't really understand the reasoning for not using a buyer's agent.  Their commission is covered by the seller, and a good agent will bring benefits to the table that will protect you from liability and ease the transaction process by leveraging their personal network.

    If the property is not listed, it depends on your relationship with your agent.

    Personally, I would be open to calling on unlisted properties for clients in certain circumstances, but we would need to work out commissions, etc. ahead of time in the event a seller is unwilling.  I'm basically calling owners anyway for my personal portfolio and as an agent to generate listing activity.

    1Reply
  • Bill SchrimpfBusiness Member
    Real Estate Agent · Reno, NV · Member since 2014 · 353 posts · 189 votes
    3y

    @Branden Wintermyer - What your really asking about is something called dual agency.  The idea that you dont know that, tells me that you should use a buyers agent, dont call the listing agent.  

    Some states prohibit dual agency by law, and many brokers prohibit it by office policy because it's considered by many to be unethical, or potentially opens up lots of liability and conflict of interest concerns.  On the flip side, others argue it can be done correctly and ethically.

    Here is a decent article from Nerd Wallet...  Dual Agency

    [email protected]775-741-2326
    ERA Realty Central - Bill Schrimpf58 Reviews
    WebsiteView Page
    1Reply
  • Branden Wintermyer
    OP
    Rental Property Investor · Harrisburg, PA · Member since 2019 · 27 posts · 10 votes
    3y

    @Bill Schrimpf 

    Thanks for the information! I appreciate it!

    1Reply
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