Investing in real estate using realtors

9 Replies

How do you find real estate agents That are helpful to you as investors? I would like someone who owns rentals as well. I had 2 realtors help us: the first one did not invest and had no clue. The 2nd realtor has his own rentals and many times would scoop up deals himself. he also pushed us into deals where we would have overpaid on the property AND crappy properties at that. I'm scared of using a realtor. I know it's advantageous using a realtor but honestly it's better not to use one if they are bad ones.

@Victoria S. Ask other investors in the area for referrals. You can ask realtors questions before you jump into using them like if they have experience working with investors. It would be unethical for them to scoop a deal in front of you when they knew you were interested in that 1 or going to put an offer in. Good luck to you!

@Victoria S. I agree with @Suny Capezzuto, ask other investors who they use. It is truly unethical for a realtor to buy something they where going to show/sell you. I actually got my realtor license just because of that. I wanted to see properties on my time and not worry about someone stealing deals from me. Good luck.

@Victoria S. I am a Realtor that works with fellow investors to find investment deals for rentals or flips. But as far as "scooping" up deals for myself I only take first right of refusal on deals as a results of my own direct marketing campaigns. But I always find both on MLS and off MLS deals for my clients. I never have to resort scooping up deals for myself. Fellow investors are repeat clients as they either come back to purchase more properties, or sell on a 1031 exchange and buy even more properties. The profit on one "scooped" deal isn't worth it to me. Repeat business is much more profitable.

Originally posted by @Joe Funari :

@Victoria S. I am a Realtor that works with fellow investors to find investment deals for rentals or flips. But as far as "scooping" up deals for myself I only take first right of refusal on deals as a results of my own direct marketing campaigns. But I always find both on MLS and off MLS deals for my clients. I never have to resort scooping up deals for myself. Fellow investors are repeat clients as they either come back to purchase more properties, or sell on a 1031 exchange and buy even more properties. The profit on one "scooped" deal isn't worth it to me. Repeat business is much more profitable.

That’s good to hear because we are not having much luck with realtors. Any contacts you have in kc, mo? 

I would check here on the BP site for Realtors in KC/MO. See under NETWORK then REALTORS. Make sure you get one that is a fellow investor. Good luck on your search. 

@Victoria S.

Are you looking for SFH or MFH? Everyone in KC is suffering from a lack of inventory. There are frequent BP meetups, which is a good place to meet someone. I think sometimes investors have an unrealistic view of a what a realtor can do for them. The realtor isn't going to run your numbers or calculate your offer price, but will submit offers at whatever number you chose and help you inspect and negotiate. Not saying that's the case here just something I've seen. My realtor in KC is also an investor but she buys a different type of deal. So we never have the problem of her buying what I'm looking at, since it's different.

I can recommend a few realtors in the KCMO area that are investors themselves but also work with investors. They have many repeat clients so that speaks for itself about whether they are treating them right or not.

Contact me directly if you would like the referrals. And I can help with the financing too.

Paul.

Originally posted by @Lee Ripma :

@Victoria S.

Are you looking for SFH or MFH? Everyone in KC is suffering from a lack of inventory. There are frequent BP meetups, which is a good place to meet someone. I think sometimes investors have an unrealistic view of a what a realtor can do for them. The realtor isn't going to run your numbers or calculate your offer price, but will submit offers at whatever number you chose and help you inspect and negotiate. Not saying that's the case here just something I've seen. My realtor in KC is also an investor but she buys a different type of deal. So we never have the problem of her buying what I'm looking at, since it's different.

Thanks for your input! We started just a year ago and have 13 units. We mainly invest in class A or B (majority) multifamily units. We run our own numbers. We just need a realtor to possibly find us off market deals and let us in the door. We don’t ask much from them. We used a realtor for our first 2 deals and realized he wasn’t helping us very much. The rest of the deals we have represented ourselves. we know a lot more now that we have multiple units under our belt hence more picky with who we bring into our circle! 

Originally posted by @Paul Higbie :

I can recommend a few realtors in the KCMO area that are investors themselves but also work with investors. They have many repeat clients so that speaks for itself about whether they are treating them right or not.

Contact me directly if you would like the referrals. And I can help with the financing too.

Paul.

Thanks Paul! I would definitely appreciate any recommendations you may have! I sent you a request!