Realtor slowing me down

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Realtor slowing me down

Dov Klitnick
New to Real Estate · Brooklyn ny 11230 · Member since 2020 · 69 posts · 21 votes

Not shore what to do i have a realtor that's helped me out alot so I don't want to go around her but I'm trying to get a property asap but ever tim I wanna put in a offer or go look at a property it takes her a long time to get back and by then its too late any suggestions? 

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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
5y
Originally posted by @Dov Klitnick:

@Russell Brazil @Deanay Morris it takes her a couple of hours which I'm just not shore if that not good for a realtor she keeps telling me that im not her only client which I understand but at the same time I want to be the first one putting in a offer right when it comes on the market so I'm just not shore if I'm being unrealistic cuz at fisr she responded pretty quick but then it started taking longer to get a response 

 A couple hours?

I dont want to be mean here, but you need to get a grip on reality. Your expectations are completely unreasonable unless you are willing to hire someone as an employee. 

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  • Ilya Kulichkin
    Member since 2021 · 3 posts · 0 votes
    5y

    @Kevin Santos, that's is so true, I know way too many wanna be investors, who realtor to find, analyze, underwrite, find funding, line up contractors, and have a a good prediction for ARV, and ETA.

    While those services are possible, it deserves a lot more than usual 3%. After all, if they know all that and able to do all that, they would be full time investors themselves.

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  • Dan DiFilippoBusiness Member
    Real Estate Broker · Fayetteville, NC · Member since 2020 · 251 posts · 244 votes
    5y

    @Lynnette E. If you ended up buying a house that he showed you, but with another agent.....eesh.

    Unacceptable. You could get sued for that.

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  • Lynnette E.
    Rental Property Investor · TN · Member since 2018 · 2k+ posts · 2k+ votes
    5y
    Originally posted by @Dan DiFilippo:

    @Lynnette E. If you ended up buying a house that he showed you, but with another agent.....eesh.

    Unacceptable. You could get sued for that.

     Actually the other agent knew the whole story and her broker said it was ok as he had refused to take me to see houses and was putting me off.  Also, both brokers had a chat and the original broker thought maybe his agent may learn  something out of it.  The original agent's broker even did not tell his agent but let him see it after it closed.

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  • Dov Klitnick
    OP
    New to Real Estate · Brooklyn ny 11230 · Member since 2020 · 69 posts · 21 votes
    5y

    @James Wise in s normal market i would be fine with that but the way stuff are now a couple on hours can cost me a deal so its tuff 

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    5y
    Originally posted by @Dov Klitnick:

    @James Wise in s normal market i would be fine with that but the way stuff are now a couple on hours can cost me a deal so its tuff 

    You an all cash buyer with zero contingencies and buying site unseen? If not, no a couple hours is costing you nothing. 

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  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    5y
    Originally posted by @Dov Klitnick:

    @James Wise in s normal market i would be fine with that but the way stuff are now a couple on hours can cost me a deal so its tuff 

     Only way you're going to be able to react to properties within hours is if you get your own license or hire someone on a full time salary and have them get their license.

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  • Marcus Auerbach
    Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
    5y
    Originally posted by @Ilya Kulichkin:

    @Marcus Auerbach, you definitely right about most agents being useless, after all the barrier to get in the industry is minimal.

    However, I have worked with few “outliers” who make 100+ deals a year, and they are usually way to busy to help analyze a deal for an investor. Most of the agents at that level have teams in place where your business can be lost and the service they able to provide with so much deal flow is very limited.

    I would recommend to stick with agents that are at the sweet spot of 25-50 transactions a year. Most likely they are smart enough to grow to this level, but not too overwhelmed with juggling to many clients at the same time.

     You are totally right, 25-50 is most likely the sweet spot. Especially if you cn find an agent who has hands on experience as an investor. Price point is another issue, if your strategy is to buy cheap houses it will be tough to find top agent willing to give you time. Your day has only 24 hours and you have to choose where you invest your time.

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  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    5y
    Originally posted by @Dov Klitnick:

    Not shore what to do i have a realtor that's helped me out alot so I don't want to go around her but I'm trying to get a property asap but ever tim I wanna put in a offer or go look at a property it takes her a long time to get back and by then its too late any suggestions? 

     You should get a better Realtor.

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  • Zeke Liston
    Real Estate Agent · Columbus, OH · Member since 2018 · 1k+ posts · 1k+ votes
    5y
    Originally posted by @Dov Klitnick:

    Not shore what to do i have a realtor that's helped me out alot so I don't want to go around her but I'm trying to get a property asap but ever tim I wanna put in a offer or go look at a property it takes her a long time to get back and by then its too late any suggestions? 

     A couple of hours isn't an awful response time. If you like the realtor overall, I would just have a conversation about responding quicker. Express that you're very excited and motivated to get a deal. If there isn't an improvement in the next couple of weeks, I would look elsewhere if you're missing out on deals. 

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  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    5y

    @Dov Klitnick

    Thank you for starting this post regardless of diverse opinion. It's will help everyone to learn 1 or 2 things about how to better work with Real Estate Agent as an Investor. 

    It's 2 side to this story You Vs Your Agent. Unfortunately, we can't hear the agent side so we can't really know who is wrong and who is right.

    Anyways, Great Real Estate Agent do a lot of things behind the scene that most clients or customers don't know about. The main issue here is Communication and Expectations. 

    You or your Agent did not set the expectations straight at the beginning of your working relationship and that is why the Buyer representation is very important. It means COMMITMENT on both side.

    Real Estate Agents have the following Fiduciary Duties to their Clients:

    1. Loyalty

    2. Obedience 

    3. Disclosure

    4. Confidentiality 

    5. Reasonable Care and Diligence

    6. Accounting

    From your post and comments, It looks like #1, #2, #5 and #6 are lacking from this relationship so the best thing for you is to look for a Rockstar ON-FIRE Agent. They are not easy to find so you will have to spend some time to do good research and interview couple of potential candidates.

    ON-FIRE Agent mean they are:

    O - Organize (The Investor-Agent must be well-organized)

    N - Network (The Investor-Agent must be well network with other Real Estate professionals like Lenders, Appraisers, Property Managers, Inspectors, Insurance Agent, Contractors, etc)

    F - Focus (The Investor-Agent MUST Focus on YOU)

    I - Investor/Investment-Savvy (MUST be INVESTMENT SAVVY)

    R - Responsive (Must Be responsive and answer your call/text)

    E - Experience (Must be an investor or have experience working with investors)

    You can find one under Network ->Real Estate Agent here: https://www.biggerpockets.com/...

    This post here: https://www.biggerpockets.com/... have similar responses on expectations and communication issue.

    As for me, I made it an obligation to get back to my client either via text or phone call within an hour. That is my value proposition.

    Goodluck to you and make sure to choose your next agent wisely and don't waste their time.

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