When I first started out my Realtor was working with me and maybe 2 other investors. He now has about 6 that he deals with. Is this a good or bad thing. My concern is the deals he is sending me he is also sending to 6 others, driving the prices up. Am I wrong to think this is not a good thing? He has also said he will not tell me or any other of his clients that he is showing this same house to multiple investors. I've bought 4 properties in 2014 from him. Thoughts?
If the house is on MLS, all the investors are looking at them anyway with some agent. If they're off market, another agent wouldn't know about them. So?
If he's bringing you good deals that you can make money with be greatful that you have a realtor that is capbable of doing that, i would worry less about deals others get, as long as I was getting good deals.
In our area, most realtors are incapable of getting a good consistent supply of deals for rehabbers.
I supply four other rehabbers all their deals.
None of the rehabbers individually can buy all the good deals that I find, last year we bought 37 deals. I have a rotation system that I use so everyone gets treated fairly, and has a consistent deal supply. When one of the guys is working on a rehab and has another in the pipeline, next deal I will run it past the guy who most needs a deal and in that way I keep them all fed, its kind of an art to keeping everyone happy, they keep buying from me because I consistently find them better deals, easier then they can get from other realtors.
I would say if he brings you consistent supply of good deals, don't worry too much about what the others are getting.
FYI, I never bid my rehabbers against each other for a highest best situation.
It sounds like your Agent knows what he's doing. If you are happy with the results, keep him. Neither your Agent nor you should keep all your eggs in one basket - You can work with more then one Agent - Just keep true to the one who brings you the deal.
I understand your concern. For me, If the realtor is or not feeding competing buyers with sensitive information, honestly I don't care. Do we have a good deal? That I care. At some point, other buyers will run out of money (maybe). More concerning is the availability of such realtor. If you haven't sign any exclusive agreements go out there and talk to as many realtors as you can. Pick the ones that brings you the best deals. The competition will weed out those that are not committed to help you. The one that stays will enjoy double commission (buy side and sell side). In the past, I had the similar problem. Then got my license and placed offers here and there. Now I am realizing that not a realtor nor a license is necessary to make this work. Good deals are the key and not all are handled by realtors. Never surrender control and Good Luck!
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