Should you use an agent

Question

I have been listening to BP, and I hear some investors bring their agent in when the investor finds a "for sale by owner," and some don't. What is everyone's consensus regarding bringing in an agent?

Account Closed · Answer

It’s an opinion not a suggestion. Whatever course of action you’re comfortable pursuing. I don’t know your experience level but starting with a talk might be the best method.

No agency / no legal advice

Rodney Thompson · Answer

@Matt K. I agree! I would never ask them to look at a deal and then work the deal without the agent. That's no way to form a good working relationship. I think Will made a good point, an agent can be intimidating, but can also show intent. Like in any deal, make sure it benefits everyone and everyone will feel good about the deal.

Rodney Thompson · Answer

@Will Bockoven - So if I'm hearing you right, making the initial contact myself and then use the agent for followup if it looks like it might a deal that I would like to pursue.

Matt K. · Answer

If I buy a house, it's through my agent.... simply because that's the reward for the hard work they put in for me. I don't spend enough to be their sole source of income so I do what I can to support them. Plus they're local, I'm not... they're going to be the first ones to look at the house, their word matters to me on what to do going forward.

Rodney Thompson · Answer

I agree @John Thedford . I can see the value in having that knowledge at the table. I hear a lot about the core-four concept but wasn't sure when each of those became important to have. Reading about these important professional components of a deal, I can see where they are all necessary. I'm guessing that early on new investors may not have specific individuals picked out to be on the "core-four," but as I work with different professionals I will start to know who I want on that team. Thanks!

Account Closed · Answer

it depends on the circumstances and the agent.

Initial talks with FSBOs and off market property owners are less threatening without an agent. Then again, it also demonstrates intent and credibility.

Matt K. · Answer

What's the hang up to a FSBO with using an agent? The only thing I can think of would be the cost.... and depending on the relationship with agent could be low.

John Thedford · Answer

It depends on what value they bring to the table. Are you skilled enough to run comps, understand contracts, etc? Bad deals are the easiest way to lose money in RE and they happen every day.

Should you use an agent

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