How to find an investor friendly real estate agent

Question

I just recently made my 3rd purchase using the same agent I've used for years.  I buy off the MLS.  I have noticed my agent steers me away from foreclosures, auctions and always advises that I offer over asking (I never take that advice).  Is this normal?  How do I find an agent that will work for me?

Aaron Lovett · Answer

@Heidi M., you've had three successful purchases, so your agent is doing something right.   Whether or not asking over list price is normal depends on your market.  In my area, this is very normal these days, especially for smaller homes and duplexes.  (And at the same time, I'm on the lookout for my buyers for overpriced properties - just got under contract on two properties for two different buyers, both at 10% UNDER list price!)Start with a conversation with your agent about your investing strategy and goals.  Ask why they recommend a certain offer price.  Ask if they are comfortable helping you with foreclosures and auctions.  Maybe they aren't.  If that's the case, ask for a referral for an agent who deals with these properties.  You might also search the BP members in Reno for a Realtor - if they're on here they might already have a clue about what you are doing.  ;-)

Heidi M. · Answer

Yes, I understand that but every offer I've made has been accepted.  Even when the market was really bad she was advising me to offer over asking.  My last purchase was a cash sale and the property had been on the market for 90 days which is unheard of in my area.  Yet she was still advising to offer over asking.  We offered $10K under and got it.

I have money to spend but am not willing to overpay for purchases.