When your realtor deals with multiple investors?

Buying & Selling Real Estate
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When your realtor deals with multiple investors?

Andrea Castor
Investor · Dayton, OH · Member since 2015 · 73 posts · 25 votes

We are working with a new realtor. He's only been in the business a few months but has a lot of experience. Overall, he really has been a great realtor on the few properties we've looked at/made offers on.

The issue is that he's looking to build his clientele and looking for other investors. The issue I have is when multiple clients of his are looking at the same property. What if both of his clients decide to bid on the same property? I feel like he couldn't really be in the best interest of both, knowing what both offers are.

This situation has not yet happened, but if it does, I'd like to be prepared.

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Micki M.
Flipper/Rehabber · York, UK · Member since 2013 · 895 posts · 453 votes
10y

It can happen, but if your agent is ethical he'll have a plan to handle that. In my experience the client that gets into the property first or writes their offer first is the only one I will personally submit.  If we have multiple clients that really want a property I'll have a different broker represent them and their offer so we don't have knowledge of offer amounts. Often the offers are significantly different (ie one is cash and the other traditional financing) so submitting both isn't as probelmatic since the seller will decide which one meets their needs best.  If it's something you are genuinely concerned about you should ask your agent how they would handle that kind of situation so you are clear on your expectations up front.

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    10y

    It is very unlikely that is going to happen. I have roughly a dozen clients at any one time, and not once has two of them ever been interested in the same property.

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  • Daria B.
    Rental Property Investor · Gainesville, FL · Member since 2015 · 1k+ posts · 432 votes
    10y

    But what "if" that happens?..... :0|

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  • Micki M.
    Flipper/Rehabber · York, UK · Member since 2013 · 895 posts · 453 votes
    10y

    It can happen, but if your agent is ethical he'll have a plan to handle that. In my experience the client that gets into the property first or writes their offer first is the only one I will personally submit.  If we have multiple clients that really want a property I'll have a different broker represent them and their offer so we don't have knowledge of offer amounts. Often the offers are significantly different (ie one is cash and the other traditional financing) so submitting both isn't as probelmatic since the seller will decide which one meets their needs best.  If it's something you are genuinely concerned about you should ask your agent how they would handle that kind of situation so you are clear on your expectations up front.

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  • Andrea Castor
    OP
    Investor · Dayton, OH · Member since 2015 · 73 posts · 25 votes
    10y
    Originally posted by @Micki M.:

    It can happen, but if your agent is ethical he'll have a plan to handle that. In my experience the client that gets into the property first or writes their offer first is the only one I will personally submit.  If we have multiple clients that really want a property I'll have a different broker represent them and their offer so we don't have knowledge of offer amounts. Often the offers are significantly different (ie one is cash and the other traditional financing) so submitting both isn't as probelmatic since the seller will decide which one meets their needs best.  If it's something you are genuinely concerned about you should ask your agent how they would handle that kind of situation so you are clear on your expectations up front.

    Thank you for this answer! This is a way I hadn't thought about it yet. I really do want him to succeed in the business and I want a long term relationship with a good realtor for my benefit as well, so this seems like the perfect solution should it come down to it. Thank you!

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  • Micki M.
    Flipper/Rehabber · York, UK · Member since 2013 · 895 posts · 453 votes
    10y

    @Andrea Castor you're welcome.  Do you know @Sondra Mckibben? She's a great contact to have and knows some good, investment-minded realtors as well.

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