Use a realtor to buy from MLS?

Question

Michael Noto · Answer

Use an agent. They can teach you what you need to know about the area.

More importantly, ROLL TIDE

Russell Brazil · Answer

If you plan on buying a property listed on the MLS there is really no reason not to use an agent.  I suggest finding one by referral. Do not just pick a random agent, but use one that a friend or someone you know has used and has had a good experience with. You may be able to get a referral right here on these forums.

Tim Macy · Answer

It really depends on how you are buying.  If you have the cash to close and really know the area, buying off market or dealing directly with the listing agent is best.  If you are using financing and need help picking a good area, I would recommend using a knowledgable Realtor that will hustle and help you negotiate.  We have a couple agents that buy their own investment properties on MLS and seem to cash flow well.  There are pretty good opportunities near randolph for good cash flow.

Jeff Wells · Answer

Completely agree with the pro-agent philosophy.  The area around Randolph AFB can be tricky in terms of location.  Most areas cash flow pretty well, but there are some areas that look attractive on paper and seem okay with the visual test, but the areas are actually headed in the wrong direction and property values/rent are decreasing due to crime in the area, etc.  Having a realtor that really knows that part of town is very important.  Also, on the negotiating side, it's a seller's market, so having a buying agent helps even the playing field (and the option period helps too if it applies to your deal!).

As stated above, interview a few realtors that specialize in investment properties, and pick the one that fits your needs the best.  Also as stated above, if you're buying with cash, that changes things just a bit.

Rex King · Answer

I am an investor first and a Realtor second. You should use a Realtor so you have someone looking out for your interests. Before you get there call 3-4 different Realtors and interview them and find one who deals with investment props. They may have an off MLS pocket listing that they could sell.

The other thing is if you have a few properties you are looking at schedule a showing with each listing agent and if you want to buy one tell the you will use them but they need to reduce the commission and reflect that in the price.

If you do not have a Realtor I think there is a large chance you will be taken advantage of. Listing agents have fiduciary duties to the seller and work for them. You want someone working for you.

Jacob Sampson · Answer

I'm pretty boring and not all that creative.  I buy all my investment property of the MLS and have a particular realtor I use, every time.

One of the cons will be that you won't have time to know if you are dealing with a  good realtor or not.  If this is a buy and hold purchase, I think the bigger problem will be to be willing to wait around until you find an actual deal.  One that actually cash flows.

Use a realtor to buy from MLS?

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