Updated about 10 years ago on . Most recent reply
Multiple Realtors
I'm currently looking for a realtor who understands the investment side of real estate, and I'm talking to 2 or 3 of them. Is it unethical or in poor taste in any way to go on a first round of tours as an "interview" with more than one agent, and then afterwards pick the one agent that you're happy with? (with the understanding that if I want to make an offer on a property that I've already seen, that I would have to do so with the realtor who originally showed me the property regardless of which one I picked moving forward)
Like any one I want to do my due diligence on the property that I invest in, the terms of my financing, etc...and that includes my realtor. How am I supposed to really evaluate a realtor otherwise?
Most Popular Reply
As an agent who gets lots of calls from investors, I can offer a little input. The most important thing you can do is establish a criteria for the types of properties and price you are willing to pay. For example, single family homes in X area, where the price is ARV times .75 minus repairs. If you know exactly what you want, it will be easier for realtors to bring you deals. Once the agent brings you a deal that fits your criteria, pull the trigger. Also, be sure that your criteria is in fact possible within your local MLS listings. Have your agent send you reports of closed sales, do your research. You may not have realistic goals and need to find properties other than MLS or HUD.
If you tell your agent you're looking for a "good deal" or "it doesn't matter as long as I can make money" you're not setting either one of you up for success.