I'm at the point in my real estate investing career where I'm using a realtor. I have a great realtor and I'm super happy with her. My issue is that I feel like a lot of negotiating gets lost in transition between me, her, and the sellers realtor. Has anybody ever arranged a sit down with all parties of a property to negotiate? I don't want to overstep my realtor but would like to have a little more negotiating power.
HI @Ben Sears ,
In most instances nothing good comes from that situation. It's like when the sellers want to be there during the inspection. They all start out happy and walking around chatting. By the end one side has said way too much. The reason you use an agent is sort of like using a lawyer. They can't say things to incriminate you, only you can say things that will be used against you. Without you sitting down and talking, that situation does not happen.
It's like being in a meeting at work with a leader who fails to stick to a schedule or have an agenda? The topic is so that everyone can get together and discuss the new "work from home policy". Sounds simple then the meeting turns into a free for all, off the rails , everyone talking situation. Pretty soon it turns into a discussion about how the break room vending machine never worked and Mary brings fish for lunch and it stinks up the whole office.
Same thing with buyers asking to get into the house "To measure curtains" after inspections. The answer from the seller is "no". Nothing good can happen, because when they are in there they see a frayed carpet and now it becomes an issue that must be brought back up. The contract cracks back open and the fighting starts. It is best to have people you trust between you and them. I have a mechanic between me and my car problems, I don;t go in and start ripping out bolts to see if I can figure it out. I have a doctor between me and my medical issues, I don't see a commercial and then ask my doctor about that drug. I have an accountant between me and the IRS, I don't call them and start asking if I can deduct my shoes because I am a runner and oh by the way it felt like the 300 foot office space was a bit high. I measured it this weekend and it's really only 285, do I need to adjust for that?
So I would say, get one you trust, communicate with her and let her go to town. Good Luck with your investing!
Thanks @Mike Cumbie you make some valid points. Always like having someone play devils advocate with me.
Agree with Mike, many buyers think they can negotiate better face but often it has the opposite effect. The seller has a comfort level with the listing agent and more times than not personality conflicts will occur with buyers and sellers dealing direct.