How do I propose what I want from my Realtor?

Question

Joel Owens · Answer

Show a broker/agent your financials and capability to purchase if they invest time into you as a potential client to find you a property to purchase. You can always black out account numbers etc.

If you do not want to show to them get pre-qualified through their mortgage broker of choice they have a history with. There may or may not be things on your credit reports that you are unaware of. If so getting the best interest rate might have to work on credit if needed. Also your debt to income ratios become important and time at a job in a specific industry to show stability.

Kevin Wang · Answer

Hi @Tyron White

Orally, and he'll get right to it when he can. He can benefit from getting commission on closing day. Not sure if this is the answer you're looking for.

Susan K. · Answer

I suggest you have this broker or any other realtor you choose to work with set you up on a custom search thru their MLS which will have your specific area, price point, etc. so you are on top of everything new. (not just what comes across their desk)  I would also make sure you can see Days on market DOM on the reports so you have a better idea of who may be getting a little "desperate" for an offer.  The Broker/Agent's benefit is getting a commission from the seller.

Keep in mind that many markets right now sellers are getting 96% of list price and more.  Not every case but it is quite common.  Not to say you can't get a deal, you can but depending on the area you may have to sift and sort through a lot of properties.  I would narrow your criteria enough so it is workable and go from there.

Ryan Johnston · Answer

Hi @Tyron White.  I know from my experience I want my clients to just be as straight up with me as possible so everyone is on the same page.  If you have a discussion about what you are looking for and it is a situation where it aligns with what a lot of others buyers want resulting in the agent writing tons of offers they should know.

They should also not be deterred and have a game plan to tackle that as that is their job.  They should be using Georgia Association of Realtor contracts (GAR Forms) to protect you, the buyer, as much as possible and almost all the information is a template so very little info has to change with each new offer written.

They should have you set up on an e-alert through the FMLS or GAMLS and be CC'd on the notification that goes to you so when something comes up that you like they can quickly know what it is and pull comps to reduce the time in getting an offer in.  We are in a hyper competitive sellers market and agents need to be prepared to put in serious work to get transactions closed.

This is at least how I like to operate.  Let me know if you ever have any questions.

Angelo Wong · Answer

@Tyron White as far as convincing realtors go -- a lot of them don't like putting in a lot of offers for no benefit. I guess the assumption is that you will want much below market to househack (though I don't know Georgia that well). If you can buy almost at par then ignore the rest of what I'm about to say and you can just tell them straight up.

You might try convincing them pitching long-term benefits to them. Like, you're an up and coming real estate investor that can down the line (2-5-10 years) do deal so on a regular basis with them.

And if you're at a nascent stage of your journey you can say that too and you'll always remember the people who helped you out in the beginning and do right by them, etc etc etc.

How do I propose what I want from my Realtor?

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