Do you trust an agent to find your deals?

Question

Hey guys, I have just recently started my own real estate brokerage and am going to focus more on investor clients. I sent out a survey and thought I would ask here too.

Do you currently use an agent to find your investment properties? Would you trust an agent to find you a deal?

Thanks

I’m in the Athens, Winder, monroe areas, let me know how I can help.

Shawn Mcenteer · Answer

@Charlie Massey I am agent in New Jersey the primarily works with house hackers.  I have house hacked a few times in my area so I know what to look for and what makes sense.  I used an agent on our first deal, 8 years later I am sharing the knowledge with others.

Danielle Jackson · Answer

Agents/brokers who are also investors tend to be the most successful at finding investment properties. They are only helping source though. You still need to do all the rest of the work!

David Daniel · Answer

Hey Charlie, hope you’re doing well. I’ve had a few agents send me properties and have bought some from them. But the only agents who have actually sent good deals that I followed through with were agents who owned investment property themselves. There was usually one reason or another that they didn’t buy it for themselves and that’s why they sent it to me. Those that own investment property themselves tend to know from experience what makes a good deal.

Theresa Harris · Answer

I think a lot depends on you and your agent.  When I'm looking, I don't rely only on my agent, I also do some of the work looking for places.  Two of the places I bought were listings my agent brought me before they hit the market.

Lindsay Op de Coul · Answer

@Laura Jennings I thought this thread would be helpful!

Curt Smith · Answer

@Charlie Massey   Hi Charlie I'm glad to hear from folks including agents who have had luck finding deals for themselves as agents or for others as their agent.

Please be aware that in any given area only 10% of the licensed agents do any a number of transactions a year most are licensed in Name only.

Of the licensed agents that actually are doing a transaction or 2A month a small percentage of them actually know what an investor deal looks like even if you told them explicitly.   You will get sent crazy high price deals that the agent wants to sell as opposed to fitting your requirements.

I'm glad to hear that there are agents out there that know what a deal looks like.   I have never seen or heard of an agent in my areaThat I could say I could just sit back and they'd send me deals.......   Which is what it sounds like you're asking for.

I've bought my rentals by setting up zillow bring up zillow filter alerts and realtor.com filter alerts.. And so I found my own deals using the automated tools built into the listing websites. Then I got some great information by calling the listing agent directly without using a buyer's agent using a virus agent. Regardless of what you hear of what a listening agent can't say if you ask enough questions different ways they will tell you everything.   There probably will be negative comments on what I've just said I'm only telling you that I've learned how to talk to listing agents directly and I've gotten some great deals by finding the listings myself through zillow and realtor email alerts and then calling the listing agent myself.

Also figure out this way any any situation where you're depending on someone else to give you what you need puts you at a disadvantage versus you knowing enough on how to find whatever it is you're looking for yourself.

But I tell you what I have done anytime I see a deal that's close I call that listing agent and then I text them my contact info and I say if you ever see a deal that looks similar to this contact me.   So in that way I am enlisting agents but it's reverse I use listing agents to send me deals that they're about rated a list and a contact me and no doubt others with so called pocket listings because I reached out to a bunch of listing agents.  :)

Alecia Loveless · Answer

@Charlie Massey I work with one agent pretty exclusively. We’ve been working together for over 20 years on one thing or another. He emails me things and brings me pocket listings sometimes. I tend to go through the MLS while I’m at work and if I see something he takes me to see it.

I do like working with seasoned agents because i feel they have an inside track on deals with clients they’ve known for years. This can help get inside deals and a better knowledge of what will make a particular deal work.

I could probably scour lists and send letters during my shift ( basically I have about 7 hours a night to myself at work) However my current plan is working for me so I’ll keep it for now.

I know another agent pretty well locally through some past transactions and have thought about contacting her but feel like this would be cheating on my current agent. Have not decided yet what to do.

Dock Newell Jr · Answer

As an agent I still use agents to find me deals. It comes done to the relationship and experience of and with the agent. Also know your not married to one agent. allow several to bring deals to you. Good Luck!

Charlie Massey · Answer

Thanks for the feedback. I agree. Deals are definitely harder to find on the MLS right now, but can still be done. That is my main source, but also have off market contacts.

Thanks!

Dell J. · Answer

Ive found deals through my agent and it worked out.   What do you mean by trust?   My agent can find the deal but I still do my due dilligence, analyze numbers and get an independent inspections.

Do you trust an agent to find your deals?

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