People saying to find "investor friendly realtors"

Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes

Last week when I was in brokers post licensing, one teacher, a broker, stated that if he found great deals he would buy them himself. I know a lot of agents that do the same. I would.

1 Reply

Jessica G.

OP

Investor · Dallas, TX · Member since 2014 · 177 posts · 213 votes

8y

I figured that! And I would too :) I guess that's where I'm a little bit confused about that particular advice - it almost seems I'd be better off working with a close friend who has my back and is not an investor themselves!

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Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

8y

not all agents can buy all great deals all the time there is a limit to what agents can buy given their financial capacity.

so that is not somethign to worry about and I don't beleive its the norm. does it happen sure its human nature.

what is it exactly that you think is lacking .. this is how real estate is done these days.. auto alerts.. clients run by the home or property get with agent tell them to write it up and docusigns are done..

the hot sheet in our market comes out at 3am.. I know agents that are up at 4am to get a head start.. if its competitve then you need to compete..

Is it you want the agents to do your due diligence for you and underwrite the deal before they send it to you. ??

Commerical brokers do this in the form of their flyers and blue sky profroma's. you still have to do YOUR OWN due diligence.

but once your licensed you will get a good feel.. Plus you have to remember and not saying you are at all.. but there are so many folks that say they are investors who have no capacity to invest and will think nothing of wasting an agents time by the hours with no hope of buying anything but a cup of starbucks they expect the agent to pay for..

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9 Reply

Alex Price

Cleveland, OH · Member since 2018 · 133 posts · 59 votes

8y

@Jessica G. Did you tell them specifically what you want outside of just (location, price point, property type, status)? Sounds to me that you want off market deals or deals within a certain parameter. Also not all agents are as connected. I don't see agents buying themselves as much as they have favorite buyers that they'll send deals to because they've worked with them for a long time. That is just relationship selling.

I like to work with those who are motivated and have been around long enough that they have a fair amount of business with a lot of sellers. Finding a good agent is just as much work as finding great properties nowadays.

1 Reply

Caleb Heimsoth

Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes

8y

I’d say you need a new realtor. You want a realtor who deals with off market deals too, not just mls listings.

2 Reply

Account Closed

Specialist · Paradise Valley, AZ · Member since 2018 · 3k+ posts · 2k+ votes

8y

Originally posted by @Jessica G.:

I've seen many times the advice given to find "investor friendly" realtors to help you find properties. I have two that I'm currently working with in two different counties, both investors themselves. The way it has been working is they essentially set me up to get the automated emails of properties that hit the MLS that fit my criteria, but it's basically up to me at that point to tell them which ones I want to make an offer on, how much, etc. They do give me comps when requested, but that's basically the extent of it. I guess I'm not really seeing the value add here, which has prompted me to just go ahead and get licensed myself - since I'm already doing everything, I might as well get the commissions.

I am truly not trying to offend the realtors out there, I know you guys bring a lot to the table, that's why I'm not sure if I am supposed to be expecting more from them or if this is typical? They both know what our RE goals are. I also get that we are new to the game, and when given a great deal they will probably go to their other investors first (especially the flippers so that they can get the buy and the sell commissions) or just keep the property themselves.. but I guess I'm wondering if they should be doing more than just sending us automated emails and comps when asked? Or maybe it's just going to be a matter of us continuing to build relationships and connections in the community to gain credibility?

Appreciate any insight. **PS I do not have a written agreement with either one. Neither asked me for one.

I don't use agents in buying or selling. If I have a property for sale and an agent brings a qualified buyer, I will pay their side of the commission or negotiate it with the buyer.

I do all of my buying "off market" and I find it is far easier (for me), much more profitable and faster with less competition. So, I wouldn't be one of those that say to find an investor friendly agent for the reasons you've stated.

2 Reply

Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

8y

Originally posted by @Account Closed:

I've seen many times the advice given to find "investor friendly" realtors to help you find properties. I have two that I'm currently working with in two different counties, both investors themselves. The way it has been working is they essentially set me up to get the automated emails of properties that hit the MLS that fit my criteria, but it's basically up to me at that point to tell them which ones I want to make an offer on, how much, etc. They do give me comps when requested, but that's basically the extent of it. I guess I'm not really seeing the value add here, which has prompted me to just go ahead and get licensed myself - since I'm already doing everything, I might as well get the commissions.

I am truly not trying to offend the realtors out there, I know you guys bring a lot to the table, that's why I'm not sure if I am supposed to be expecting more from them or if this is typical? They both know what our RE goals are. I also get that we are new to the game, and when given a great deal they will probably go to their other investors first (especially the flippers so that they can get the buy and the sell commissions) or just keep the property themselves.. but I guess I'm wondering if they should be doing more than just sending us automated emails and comps when asked? Or maybe it's just going to be a matter of us continuing to build relationships and connections in the community to gain credibility?

Appreciate any insight. **PS I do not have a written agreement with either one. Neither asked me for one.

I don't use agents in buying or selling. If I have a property for sale and an agent brings a qualified buyer, I will pay their side of the commission or negotiate it with the buyer.

I do all of my buying "off market" and I find it is far easier (for me), much more profitable and faster with less competition. So, I wouldn't be one of those that say to find an investor friendly agent for the reasons you've stated.

Mike however to be fair off market deals just dont fall into your lap.. I know many who get OFF MARKET deals they do so by spending thousands a month on direct mail TV ads radio spots bill boards bandit signs etc etc.

the benefit of agent is there is no cost to those starting out.. there is a cost to doing business one way or the other.. no one sits homes and deals fall in their lap.

although if your long in your career and well known it can happen.. i do personally over 200 buys and the same amount of sells per year. and i spend zero to get my inventory I am a known buyer in the markets i work.. the deals they come to me as i am know as a fast cash buyer..

once folks get to this point it does get better and easier..

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3 Reply

Account Closed

Specialist · Paradise Valley, AZ · Member since 2018 · 3k+ posts · 2k+ votes

8y

Originally posted by @Jay Hinrichs:

Originally posted by @Account Closed:

Originally posted by @Jessica G.:

I've seen many times the advice given to find "investor friendly" realtors to help you find properties. I have two that I'm currently working with in two different counties, both investors themselves. The way it has been working is they essentially set me up to get the automated emails of properties that hit the MLS that fit my criteria, but it's basically up to me at that point to tell them which ones I want to make an offer on, how much, etc. They do give me comps when requested, but that's basically the extent of it. I guess I'm not really seeing the value add here, which has prompted me to just go ahead and get licensed myself - since I'm already doing everything, I might as well get the commissions.

I am truly not trying to offend the realtors out there, I know you guys bring a lot to the table, that's why I'm not sure if I am supposed to be expecting more from them or if this is typical? They both know what our RE goals are. I also get that we are new to the game, and when given a great deal they will probably go to their other investors first (especially the flippers so that they can get the buy and the sell commissions) or just keep the property themselves.. but I guess I'm wondering if they should be doing more than just sending us automated emails and comps when asked? Or maybe it's just going to be a matter of us continuing to build relationships and connections in the community to gain credibility?

Appreciate any insight. **PS I do not have a written agreement with either one. Neither asked me for one.

I don't use agents in buying or selling. If I have a property for sale and an agent brings a qualified buyer, I will pay their side of the commission or negotiate it with the buyer.

I do all of my buying "off market" and I find it is far easier (for me), much more profitable and faster with less competition. So, I wouldn't be one of those that say to find an investor friendly agent for the reasons you've stated.

Mike however to be fair off market deals just dont fall into your lap.. I know many who get OFF MARKET deals they do so by spending thousands a month on direct mail TV ads radio spots bill boards bandit signs etc etc.

the benefit of agent is there is no cost to those starting out.. there is a cost to doing business one way or the other.. no one sits homes and deals fall in their lap.

although if your long in your career and well known it can happen.. i do personally over 200 buys and the same amount of sells and i spend zero to get my inventory I am a known buyer in the markets i work.. the deals they come to me as i am know as a fast cash buyer..

once folks get to this point it does get better and easier..

I started with little money and little advertising when I did my first deals some 25 years ago. I am not referencing what I do now. I have my systems & procedures in place at this point and it works for me.

What I am saying is that when I started out, I simply went door knocking. That works. People can get into the investing business by doing simple things. People don't want to put the work into it so they'd rather spend their money. That's fine. But my suggestion, starting out, is to spend time in the field, knocking on doors, meeting people, handing out flyers, and the biggest one of all "picking up the phone when it rings and calling people back". It's simple. That's why it's so difficult. People overthink it.