Viewing potential properties without a realtor?

Question

My wife and I are starting to search for multi-family investment opportunities in our area. We've been poking around on redfin, realtor, zillow, etc., and there are already several properties we're interested in.

I've reached out to the realtor we have worked with in the past for our primary residence about our interests. However, my wife and I are very eager to take a look at a couple properties in particular that we feel are especially good options and may sell soon.

Should we wait until we hear back from and can coordinate with our realtor, or should I contact the listing agents myself to see if they can set up showings in the next day or two.

Disadvantages/advantages to starting to view properties without our realtor?

Thanks!

Account Closed · Answer

In my area I've never once come across a listing realtor not wanting other realtors to show their properties. It's not like the listing realtor almost ever represents both sides of the transaction, so of course they'd want to let you and your buy-side agent in to do the work for them. In my experience I can usually get into a house to show a client the same day, with very few exceptions.

Mindy Jensen · Answer

@Zachary Wagner I am wondering why your agent isn't returning your call so fast? There is always the possibility of a glitch in the system, so if you liked the way they represented you in the past, perhaps you could give them the benefit of the doubt and contact them again.

If they don't reply immediately, start looking for a new agent. In this market, your agent has to be on top of things or you don't get the deal.

There is something known as "procuring cause" in the real estate agent world, and it has to do with commissions earned and paid. You would hate to be caught in the middle of a real estate commission fight because you used two different agents. While there is more to it than just showing a house, if you have no plans to use the listing agent to write the offer, you shouldn't ask them to show you the property.

The flip side of that is if you can't get your agent to answer the phone, contact the listing agent and ask them to show it to you. If you like it, have the listing agent write the offer. Be careful, anything you tell an agent who is representing both sides of a transaction can be disclosed to the other party.

I am quite sure you can get numerous investor-friendly agents from your area that are on BP to contact you if you just ask.

As an agent, I have never come across the issue that @Stone Teran mentioned. Properties listed on the MLS are listed specifically to sell - listing agents know they aren't going to represent both sides in most cases.

Account Closed · Answer

You should try to schedule a tour with a Redfin agent. You can do multiple tours using Redfin agents with NO obligation and pretty flexible to tour at your schedule, as long as they are operating locally in your market. Zillow and realtor.com will just advertise local realtors but Redfin has their own. *Disclosure: 'm a Redfin agent

Mindy Jensen · Answer

Thanks for clarifying, @Stone Teran. I have zero experience with that type of property, so I didn't know they did that.

Stone Teran · Answer

By the way, my experience with realtors is with larger multi-family properties often going through foreclosure.  It's like the listing agents don't think outside realtors can handle the complexities or they want the double fee.  Every single property I have purchased in my life has used a dual-agent (realtor representing both sides) as a result.

George P. · Answer

i only talk to the listing agents. unless it's  for the rentals.

Michael Noto · Answer

@Dakotah Smith Do you have an active buyer/agency agreement with the agent you are referring to?

If not, and they cannot react quick enough to your needs to see places fast than just simply find another agent.

Stone Teran · Answer

I've found many listing realtors to be very territorial and not want other realtors showing their properties.  This probably violates some sort of MLS bylaw.  I've had to contact the original listing realtor if I didn't want to wait weeks.

Viewing potential properties without a realtor?

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