Hello all. At times I have my realtor ask the listing agent questions about a property. Usually they do not answer all the questions. They seam to think "I don't know" is an acceptable answer. It may take a week to hear back. Sometimes the seller accepted an offer and the listing agent does not reply at all. Would it kill them to ask the seller and find out? Is it too much to ask questions or to expect a reply of some type? When I want to sell something I go out of my way to answer all questions. Is there something I don't understand?
Some of the questions I ask are, age of roof, furnace(s), water heater(s). Cost of monthly water/sewer. Are there separate elec./gas meters, separate furnaces. Am I off base asking if they use a Property Man. and if so their name?
With a thousand questions, you are likely presenting yourself as someone who will make the transaction difficult. So they would rather sell it to someone they will knownwill close and be easy to deal with.
There are many unknowns here, and I am not clear if you are getting a slow response from your own realtor or not hearing back from the seller's realtor. If your own realtor is responding to you too slowly, then you need a new rep. If the seller's realtor is responding slowly, there are many possibilities, but @Russell Brazil hit on the most likely one. If you are in a hot market, you could be asking several questions about a property while the owner is sifting through 25 cash offers- why take the time to answer questions. I get it, it's rude, but they basically have the house sold and it looks like you are kicking the tires. In a hot market, you have to be aggressive and ready to take a risk- others definitely are, and it may be leaving you in the dust.
Is a Sellers Property Information Report (SPIR) not standard there? Most sellers in my market fill them out and it includes all of that info and more. It prevents that obnoxious and time consuming back and forth for everyone.
@Jim S. I agree with what @Corby Goade said. I am an agent and always try to respond within 4-6 hours, but sometimes my seller's don't get back to me that fast. The Michigan market is super hot (that is where I buy and hold) and with so many cash offers, above list price offers etc. they might just not have the time.
The questions you are asking can be answered during the home inspection period. Your first goal, as an investor, is get the property under contract.
I understand where all of you are coming from. Some of the listing are very poor. They don't even say how many bedrooms for each unit. Some have been on the market for almost 2 years so I doubt they have 20 offers. I don't want to waist my time or my realtors time by going to see it when a couple deal breaker questions could prevent that. My goal is not to see how many properties I can own. Thank you all for your input. Keep em coming.
@Jim S. I'll jump on the bandwagon. REALTORS want to respond fast when they have a solid buyer on the line. They don't make money unless the property sells! The reason they aren't responding is they probably think you are a tire-kicker, not really serious about making an offer. If the house has been on the market for two years, it's probably a dump and they've probably had a hundred calls like yours that never turned into an offer, so they don't feel like putting any effort into it.
And if you did make an offer, what would their commission be? How hard would you work for a $500 commission after two years? My guess is they are chasing other opportunities.
On the other hand, there are REALTORS out there that are just absolutely rude with no business sense. Just one of the reasons 80% give up their license within the first two years.