Working with Agent- what to expect?

Question

Hello,

I'm trying to figure out what I should be expecting/getting from my agent? I am a newer investor and starting late (50). We have purchased a few properties over the last couple years paying cash but now trying to have a more concise plan moving forward since finding BP. Everyone on here says get a RE agent to work for you and help find/facilitate deals.

Long story short I signed a Buyer's Agent agreement with an agent who we had purchased through (they were listing agent on one we bought) and liked. The first week they sent me a few properties on the MLS but since then it has just been me sending them properties I'd like to see and them arranging the showings. Largely that is ok but honestly I want someone who can tell what is a good investment and will steer me in that direction not just me saying hey I like this one. Or also telling me hey even though you like it this is not a good deal, or location, or whatever. 2w ago I messaged to see a property but they were out of town for two days and then I was. 10d ago I asked about seeing another property which wasn't available to look at until this week. It's been crickets. No follow up on either one.

I know everyone is very busy so I haven't been pushy but I feel like I am not really getting any value from this relationship. The contract is for 6m! It has been about 2m and we have looked at 3 homes now. Two were not good investments, one I liked ok but needed a ton of work and I thought was overpriced. They dropped the price and went under contract before I could make an offer. Maybe they think I'm not a serious buyer? Or they are just too busy? I am a high NW professional with excellent credit, pre-approved and can also make cash offers, and own 6 properties currently.

Is this normal? Just not a good fit for me? Is it appropriate to request to be released from the contract so I can look for someone else or just go it alone like I have in the past? I don't want to be a needy, unreasonable client but I would like to work with someone who I feel like is in my corner and trying to help me move forward. Would love people's thoughts on this and experiences. Thanks!

PS: Looking to stay local. Not ready to be investing in faraway lands and I feel like there are good opportunities near me for growth. Thanks!

Karina Busch · Answer

Thanks for all the replies everyone. I had a heart to heart with my agent after looking at some properties yesterday and I think she has a better idea of what I am looking for and how to help me better moving forward. We put in an offer yesterday that was accepted so hopefully this is a good step in the right direction.

Mike Fingleton · Answer

Hey Karina,

I totally get where you're coming from. When I first dipped my toes into real estate investing, I felt like I was doing all the legwork while my agent was just along for the ride. It's not unreasonable to want an agent who's proactive and truly has your back.

An investor-friendly agent should be more than a door opener..they should be a strategic partner. They can point out why a property might not be the best investment, highlight hidden gems you might've overlooked, and keep you in the loop even when they're swamped. It's about synergy and shared goals.

I had a friend in a similar situation who felt like she was always chasing her agent. She eventually found someone who not only brought her deals but also offered valuable insights that aligned with her investment strategy. It made a world of difference for her portfolio.

It might be worth having an open conversation with your current agent about your expectations. Sometimes a little nudge can realign the relationship. But if that doesn't help, considering a switch isn't out of line..especially if you feel opportunities are slipping through the cracks.

You're not being needy at all. Wanting an agent who's engaged and supportive is just good business sense. And hey, if you ever think about expanding beyond Louisville, markets like Austin and Scottsdale are buzzing with potential right now.

Keep pushing forward, and don't settle for less than you deserve.

All the best,- Jasper / Pat AboukhaledTurning investment visions into reality in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

Russell Brazil · Answer

There is no good investments, or bad investments.

You as an investor need to decide what investing strategy works for you, define your criteria, understand if your criteria is possible in the market you are looking in, understand the risks/rewards of your critera, and then execute the purchase.

While some agents are heavily knowledgeable about investments, most have zero clue. But even if you were working with a rockstar that is super knowledgeable....you need to know what youre looking for first for them to help you. Some investors might be a $100k condo....others might buy a $3 million McMansion.

Rob Bergeron · Answer

Really should find an investor friendly agent.

Henry Lazerow · Answer

Find an agent who is an investor. I own 10 units and have closed over 50 million of 2-4 units. I check market EVERY morning and email out deals I see as good to my clients as well as run my opinion on the stuff they send me. Theres so many agents out there you need to find one who is focused heavily on your target niche.

Working with Agent- what to expect?

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