Realtor told me to find a "junior realtor" should I?

Buying & Selling Real Estate
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Realtor told me to find a "junior realtor" should I?

Cole Black
Rental Property Investor · Markdale Ontario · Member since 2019 · 94 posts · 12 votes

I was continuing my search for a realtor today, I began talking to one who began to ask me questions. The Realtor asked me who will represent me and who will make the offer for you. I told him that I would like him to do that and his response was that he didn't think his team was a right fit for me and I should find a junior realtor without many clients. My question is should I take his advise and find a realtor that is a junior. The pros to that would be he will probably spend more time trying to prove himself and work harder for me. The cons would be both of us being inexperienced it might be easier making a mistake. My other option is to continue to find a realtor that has lots of experience, the pros would be his experience level but the cons could be they don't have as much time to focus on my needs. What should I 

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Seth Ferguson
Rental Property Investor · Member since 2019 · 407 posts · 267 votes
7y

What happened was that he qualified you and you didn't pass the test. Think back to the conversation, go over the questions he asked you a few times, and try to figure out where you could have given a better answer.

You're new to real estate. Considering partnering with someone who has experience.

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  • Dell J.
    Member since 2010 · 210 posts · 158 votes
    7y

    what is it you are trying to do? What are you requiring of the agent?  FInd an agent willing to work with you.

    1Reply
  • Scott Mac
    Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
    7y

    Hi Cole,

    Always use the best people you can get to work for you.

    Try 25 more, and if that doesn't work try 25 more, and of that doesn't work...Well, there certainly is not a shortage of Realtors.

    Good Luck!

    2Reply
  • Seth Ferguson
    Rental Property Investor · Member since 2019 · 407 posts · 267 votes
    7y

    What happened was that he qualified you and you didn't pass the test. Think back to the conversation, go over the questions he asked you a few times, and try to figure out where you could have given a better answer.

    You're new to real estate. Considering partnering with someone who has experience.

    8Reply
  • Cole Black
    OP
    Rental Property Investor · Markdale Ontario · Member since 2019 · 94 posts · 12 votes
    7y
    Originally posted by @Dell J.:

    what is it you are trying to do? What are you requiring of the agent?  FInd an agent willing to work with you.

    I am looking at investing in some rental units in my area that cash flow. Looking for a realtor to sign me up for automatic alerts of deals that meet my requirements. Once I find a good deal I want that realtor to make offers on such deal.

    0Reply
  • Cole Black
    OP
    Rental Property Investor · Markdale Ontario · Member since 2019 · 94 posts · 12 votes
    7y
    Originally posted by @Seth Ferguson:

    What happened was that he qualified you and you didn't pass the test. Think back to the conversation, go over the questions he asked you a few times, and try to figure out where you could have given a better answer.

    You're new to real estate. Considering partnering with someone who has experience.

     I lost him when he asked who was going to be making offers on my behalf, my answer was I'm still building my team I have a CPA and I am currently looking for an attorney and an agent. I also questioned him and asked if he would be making the offers on my behalf, I said I get most of my content from USA based websites books and podcasts (biggerpockets) and asked if that is for some reason different in Canada. I know I sounded fresh to him but I just told him how it was. If theres one thing I've learned from the podcast is not to lie about your experience. 

    I have considered partnering but so far have found no luck. 

    2Reply
  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    7y

    @Cole Black

    Realtor's only make money on a sale. They don't make any money until they obtain a sale.

    He may have calculated based on the conversation you had with him that you wouldn't be closing on any property or that you would require a lot of his time before a sale occurred.

    It is his loss if you do end up being a buyer who purchases a lot of property as it is lost commission for him.

    I think you should research what it is that you want from a realtor and be more direct in the next consultation.
    You may want to be more descriptive in your search.
    "I am looking for properties in the $50,000 to $80,000 range"
    "I am only looking for properties in this zip code"
    "I am looking for properties that only require paint/carpet touch-up"
    etc

    This will show the agent that you did more research and will be easier to work with.

    Good luck on your investing career

    [email protected]917-280-8544
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    3Reply
  • Skye Nelson
    Realtor · Myrtle Beach, SC · Member since 2019 · 6 posts · 2 votes
    7y

    @Cole Black it may have just been that the agent is inexperienced working for agents or perhaps they have a very full schedule. I’ve done quite a bit of reading on investor/realtor relations and I myself have worked with many investors. Investors typically take more time and dedication and some realtors just may not have the capacity to handle the work load and still diligently work their schedule while giving you the best service that you deserve. My advise would be to call many agents in the ares that you are looking and explain to each what you are looking for in your realtor, your time frame, what exactly you are looking for etc. choose the one that is best suited. It might take a little more time up front but you might just get a lasting relationship and someone that will be there for all your real estate needs.

    0Reply
  • Andrea Townsley
    Real Estate Agent · Gainesville, FL · Member since 2019 · 63 posts · 52 votes
    7y

    Some agents like working with investors and understand the work involved. Some do not and they’re not the right fit for you.

    I think the non-investor-friendly agents don't understand that many deals are off market anyway so it's not like they are constantly scouring the MLS. Plus with automated listings being sent out, there is virtually no work until the investor brings a property they are interested in and wants comps for ARV, or when they are ready to make an offer, or they want you to list their flip!

    So...his loss. Keep looking.

    2Reply
  • Andrea Townsley
    Real Estate Agent · Gainesville, FL · Member since 2019 · 63 posts · 52 votes
    7y

    I also want to point out that newer agents still have to work under a broker who should be providing training and advice to help them help you. It’s not like it’s the blind leading the blind. Brokers in my state have to have two years of experience plus more state-mandated education in order to “upgrade” to a broker’s license.

    0Reply
  • Jim BlackburnBusiness Member
    Lender · Florida Based (48 states Puerto Rico) · Member since 2017 · 321 posts · 121 votes
    7y

    @Cole Black

    Find a realtor that wants to work with you. Call/interview 3-5 of them and pick the one you like best

    954-993-1625
    Stairway Mortgage, a Division of NEXA Mortgage LLC597 Reviews
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    0Reply
  • Frank Wong
    Real Estate Broker · Bay Area · Member since 2018 · 1k+ posts · 3k+ votes
    7y

    @Seth Ferguson nailed it. He tried to qualify you to see if you will fit for what he and his team were looking for in an ideal client and you didn't fit.  It doesn't mean you are not qualified and serious investor just not a fit for their team.  I actually give them much respect to tell you straight up. 

    Now for you going to a Junior realtor.  I don't know if that is exactly the right thing you need to do but I think what that agent was trying to say is that what you are looking for would be too much of a demand for top agents in the area.  I don't know your exact conversation so it's hard to say why he said what he said.

    I think sometimes new investors read things on BP, books, or watch youtube and think that is how it will go with them in their market. They have to realize the content and experiences were written at different times, market conditions, and areas.  Real Estate is ever-changing and you need to adapt to current conditions constantly.  In this case, your area, time, and market conditions are different and if you try to apply irrelevant information to today's market you won't get a deal done. Not saying you are doing this just in general for all to know. 

    4Reply
  • Alissa Engel
    Great Falls, MT · Member since 2017 · 97 posts · 172 votes
    7y

    @Cole Black

    Maybe. My husband is a realtor who really likes working with investors. Why? Because they know what they want, they don’t get so emotional, and they move quick.

    But if you call yourself an investor, but act like a first time home buyer....that’s annoying. If you expect the realtor to work fast, jump on things, identify promising properties....you’d better be prepared to work just as fast.

    He is also a “junior” realtor, but not a newbie. He works his *** off for people. He does much more than the very busy and well-known realtors in his office. That said, he will fire people that waste his time.

    After watching my husband, and using many realtors before he got his license. Personally, I would look for one that has 2-3 years experience. They know what they are doing, but they are still hungry and eager to get your business.

    I’m guessing he heard, “I am new. I am gonna ask a million questions. View a million properties. Only settle for the deal of the century in a high market. And suck HOURS from me.”

    You have to learn and get experience and that’s fine. But communicate that you are aware of their time. Drive by stuff first. Do some research first. Don’t send a list of 10 properties you want to see...every.single.day.

    3Reply
  • Daniel Townsend
    Flipper/Rehabber · Cincinnati, OH · Member since 2019 · 75 posts · 53 votes
    7y

    @Cole Black I used to be a real estate agent and I had some investors with me. It’s true that the most experienced don’t want to work for an investor especially a buy and hold. They’re only going to make pennies if the investor buys low but doesn’t sell. They are more willing to work with rehabs because they’ll make more on the sell. Be careful if you find a newer agent that may have no experience with investors. They can waste your time by showing you everything under the sun. Also for investors it pays to know what you’re looking for specifically so you don’t run the agent ragged and they drop you. I’ve know people that’s happened to.

    Good luck finding an agent. That person is out there. Maybe try to find someone with 3-6 years experience and be sure you find out how many transactions they’ve been a part of.

    1Reply
  • Daniel Townsend
    Flipper/Rehabber · Cincinnati, OH · Member since 2019 · 75 posts · 53 votes
    7y

    @Alissa Engel you are so right! Especially about driving by the properties first.

    0Reply
  • Joe SplitrockPro Member
    Moderator
    Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
    7y

    When I was starting out, I will never forget a banker I met with. I was green and she treated me like a loser that would never make it in the rental property business. She talked down to me and told me how horrible the proposed investment was. I didn't do that deal with her and I would never do any deal with her. 

    Although I get that the agent thought you were a waste of time, it is really rude to just tell a new investor you will not work with them. How does he know where you will be five or ten years from now? If the agent was smart, he would have junior realtors on his team that could help people like you. He could still advise and help in the process and they would be hungry and willing to give you attention.

    Here is what people forget. Investors starting out today are the successful investors of tomorrow. 

    4Reply
  • Ben F.
    Flipper/Rehabber · Lancaster, PA · Member since 2017 · 113 posts · 24 votes
    7y

    @Cole Black Not sure why he turned you away to someone else. Are you pre-approved meaning you have proof of funds or reliable financing? What was your conversation about prior to this conversation with this realtor?

    You always want someone that understands your position but is also “better” than you so you have something/someone to learn from. Provided you are not dead weight and can keep up, whether a “junior” realtor or “senior” realtor, you are a customer and provided your finances are in order, neither realtor should deny you business with undisclosed reasons. Did he advise you on what he’d like to see from you before proceeding?

    1Reply
  • Account Closed
    Specialist · San Antonio, TX · Member since 2012 · 865 posts · 351 votes
    7y

    How are you going to take down your purchase?

    If you presented yourself unable to close a deal then why would he want to spend time on unproductive activities? 

    0Reply
  • Michael Sloan
    Property Manager · Richardson, TX · Member since 2018 · 9 posts · 8 votes
    7y

    @Cole Black you have to find someone who you can trust and you want to work with them. Who has the most for sale signs in the area you want invest in? Who do other investors in your area use?

    1Reply
  • Martin NealPro Member
    Rental Property Investor · Chicago, IL · Member since 2017 · 293 posts · 383 votes
    7y

    @Cole Black You’re in Ontario, so I don’t know what is considered the norm for what a realtor does. Here in Chicago, the realtor is expected to do it all, negotiate, spot problems during the walkthrough, etc. I would keep looking for another realtor.

    1Reply
  • Sean M.
    New to Real Estate · Charlotte, NC · Member since 2019 · 39 posts · 11 votes
    7y

    @Cole Black I’ve had both seasoned and right out of RE school. Yes. The Jr will

    Work for you, but come contract time, I hope you like to read because the Jr will most likely mess something up.

    0Reply
  • Guifre Mora
    Lender · San Diego, CA · Member since 2019 · 874 posts · 355 votes
    7y

    @Cole Black would you go to a junior doctor for your health issue?

    Of course not.....you found a.ss for a realtor. Yes he is right he is not a good fit. Move on and shop for the one who will be there for all your business. There are plenty of realtors who want your biz.

    0Reply
  • Zach Evanish
    Rental Property Investor · San Diego, CA · Member since 2012 · 185 posts · 105 votes
    7y

    @Cole Black Find the properties you want and call the listing agent and have them write the offer. Make sure you have proof of funds/pre-approval ready to go. Keep making offers!

    0Reply
  • Nick Rutkowski
    Rental Property Investor · Ithaca, NY · Member since 2015 · 1k+ posts · 1k+ votes
    7y

    @Cole Black

    My broker told me yesterday “I don’t work with neophytes” probably the funniest thing he’s ever said to me. But it’s true, new people can be a waste of time to an agent who is established with clientele who are also established with money. Don’t take it personally, it’s how we make a living.

    I’d suggest finding another realtor, they’re a dime a dozen.

    0Reply
  • Ian WalshBusiness Member
    Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
    7y

    That's a new term....

    0Reply
  • Levi Kidder
    Rental Property Investor · Winter Haven, FL · Member since 2017 · 15 posts · 39 votes
    7y

    @Linda Lovely

    Why does your profile photo have a shutterstock logo on the bottom?

    2Reply
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