Can I expect my agent to find deals for me

Question

I worked with a real estate agent to find some investment properties. The agent just set up an automatic email to update me the houses on the MLS list. I asked the agent to give me some suggestions or a short list of good houses to consider for investing, but I get no response for several weeks. I was wondering if it is unnormal to expect the agent to offer me this advice. Can I switch to another agent who might be able to offer this advice?

Account Closed · Answer

IMO you definitely need a different buyer's agent. Before you go find a new one though, I suggesting thinking through what you bring to the partnership. Are you a cash buyer? If not, are you easily fundable? Do not expect an agent to analyze rehab or rental potential for you. That's your job. My last two sales were to buyers who had buyer's agents looking for investment props that fit their criteria, so there are good agents out there. Figure out what you want and find an agent that will bring you only that. Any agent can can create an email sort off the MLS.

Robert Adams · Answer

William,
You can make any property a good deal at the right price. The agent may be sending you homes so you can pick out the ones that you like. From there they can research the property and figure out how to make the home you like a good deal. Auto searches are a good way for you to constantly see what the market has to offer in your price range. It is up to you and your agent to get on the same page about what homes you like and its up to your agent to go after them and get you a good deal from there.

Pick out a few homes you like and tell them you want more info on those homes. From there you should know the listing price, the comp price, what the agent is recommending to write it up at, and what kind of rents you can expect once you own it. If you are unsure about the agents advice you can ask a second agent to give you a free CMA on the same property. See if their figure are similar or way off.

Hope this helps!

Joel Owens · Answer

William when working with a buyer the broker/agent needs to analyze the potential book of business and time invested with that investor.Are you going to buy 1,2,5,10 properties a year and at what price point etc.??

There is a human component as well but you have to monetize as well.

If the broker/agent is not doing this I wouldn't want to work with them anyway as they do not understand business and time versus money cost.If they do not understand that they certainly do not understand how to evaluate investment property for you.

Is this an investment broker/agent or someone who just list homes that you stumbled across??

Are you buying properties with all cash or with financing??Trying to buy for flip or hold as a rental or wholesale??Is your price point realistic for the area versus what other investors are paying for properties??

Can I expect my agent to find deals for me

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