Hello all,
I am looking to get 1 or 2 condos or single family homes in the Katy or surrounding Houston areas. I am working with a realtor now, but she is not being very helpful. After identifying potential properties, I need her to go and check out the property. However, a week has passed without any action on her part.
I doubt good properties are going to sit around for that long. I signed a representation agreement with her, is that binding in the sense that I cannot work with any other realtor in Houston? If so, I am willing to cancel out of it.
Could anybody recommend good realtors in the Katy/Houston area, who can help me find my target properties without giving me a lot of runaround?
Thanks in advance for your help.
Thanks for the shout out @Sharon Tzib you're a sweetie!…funny thing is I’d written a post earlier and it simply would not post. Your kind mention must mean I should chime in. There are some great realtors on this site and I’m sure he will find someone he feels compatible with.
@Manzur Y. I’m sorry to hear you had such a disappointment with your realtor. Often times we sign up with new investors thinking we can fulfill their needs and at some point instead of having that “come to Jesus talk” and saying look we’re just not compatible, just not a good team and I don’t think I can best serve your needs…we simply end communication. That is unprofessional and gives us all a bad label. I always make sure my clients know that while I work for you…both you and I can end this relationship if either of us feels our needs are not being met. It’s only fair, right? Clients are good...but referrals are better. I’ve had clients I parted ways with, refer me to others and we worked out fine.
Now let me ask you, how well do you know the Katy market…both of them…as there is the old Katy and the new Katy? The latter being the more desirable and thus more attractive to renters. A lot of folks think just saying I want to buy in Katy assures high property values and the much sought after Katy school district. It doesn’t. You could buy Katy and wind up in a different school district.
I just ran the townhomes/condos and there is nothing which has sold for $90k or less since January of 2013, perhaps further back. Granted there are several “interesting” listings for homes less than $90k, but they all need work or are in neighborhoods plagued with short sales. Before a short sale there is often deferred maintenance…so even the best of these will probably need work before they would be considered rent ready.
You mentioned you had cash from a home equity loan. Is that cash in the bank…or the plans you have to get the money once you find the home? The latter won’t work…even if you find the home that meets all your parameters; there will be stiff competition…with “ready” cash. If you haven’t already done so, do the loan and have the proof of funds letter ready for your next realtor. Trust me when a client can show bank backed proof of funds…realtors will treat them soooo differently, than that HML letter of promise. (Don’t judge me…lol)
I work with the banks and know when the good ones are coming on the market (sort of sucks because I cannot buy my own listings) and sometimes there are investors already lined up way before the listing hits the internet, so you have to be ready to move fast. So that’s my $.02…okay a nickel.
Good luck in your endeavors and if you decide you’d like the listings I ran, just PM me and I will gladly send them to you. NSA.
@Manzur Y. I'm currently going thru my Realtor courses and I would be more than willing to help you but I'm still several weeks from my licensing.
In the meantime, I would highly recommend Jim Burdette (281)961-4716. He helped me when I was buying my first property and he also helped my brother with his home. Jim is very responsible and good at returning calls and keeping appointments.
Please let him know Dennis Rodriguez referred him to you. Realtors live by referrals.
Hi Manzur, Sorry to hear your agent isn't working out. Try calling or emailing them, and simply say that its not working out. Using a Realtor is like dating, sometimes its a match, and sometimes it isn't. Most brokers have a policy to honor the client request to cancel, so just ask them to complete form TAR-1503 and you'll be done.
For a Realtor to help you best, it's critical that both you and them to know exactly what you are looking for. Also, you have to have your money situation ready at all times, since you'll be making offers at a moments notice. A pre-approval letter, or proof of funds is essential. Then you'll need to know your exit strategy: flip, buy and hold, etc.
Please contact me if you'd like to set up a meeting. My information is on HAR's website.
Thanks Dennis and David. I have fired my realtor .. and it is amazing she did not apologize a single time for her inability to help me. It is like .. yea whatever.
I am mainly looking in Katy area.
David, can you help me out? If not, I can check out Dennis's recommendation.
It amazes me how can someone make a living if that's how they treat their business and clients. Hope you have greater luck with the next Realtor.
What type of engineer are you? I'm a civil working full time for an oil and gas sub. Let me know if you need more info. I currently live in Katy and if you tell me what you are looking for maybe I can help a little.
Dennis
@Dennis Rodriguez I am an electrical engineer, working in the semiconductor industry.
Thanks in advance for your help, Dennis. Here are my requirements:
Let me know if you see anything that matches.
@Manzur Y. Maybe she thought the work was too much for $2700 or she didn't want to exert too much effort for someone that might buy. Did you tell her what was expected of her at the beginning?
@Shanequa J. Yes I did clarify what was involved. All requirements were clarified up front. From the initial listings she sent, I narrowed it down to 3 properties that she had to go and look at. She did not look at even a single one and started giving me the runaround. Today this, tomorrow that, and then no communication for 4-5 days.
When I confronted her about it, she was just nonchalant about it. The stakes may have been too low for her, but I asked her if she was willing to help me out.
Manzur,
I have a broker I work with in the Houston area and can recommend. He works with a builder down there for investors looking for new SFR's as rentals. The costs are higher than you mentioned (125K) but you can't go wrong with a new property!
@Ann Watkins is a realtor in Houston - if she can't help you, I'm sure she knows someone who can. Good luck!
Thanks for the shout out @Sharon Tzib you're a sweetie!…funny thing is I’d written a post earlier and it simply would not post. Your kind mention must mean I should chime in. There are some great realtors on this site and I’m sure he will find someone he feels compatible with.
@Manzur Y. I’m sorry to hear you had such a disappointment with your realtor. Often times we sign up with new investors thinking we can fulfill their needs and at some point instead of having that “come to Jesus talk” and saying look we’re just not compatible, just not a good team and I don’t think I can best serve your needs…we simply end communication. That is unprofessional and gives us all a bad label. I always make sure my clients know that while I work for you…both you and I can end this relationship if either of us feels our needs are not being met. It’s only fair, right? Clients are good...but referrals are better. I’ve had clients I parted ways with, refer me to others and we worked out fine.
Now let me ask you, how well do you know the Katy market…both of them…as there is the old Katy and the new Katy? The latter being the more desirable and thus more attractive to renters. A lot of folks think just saying I want to buy in Katy assures high property values and the much sought after Katy school district. It doesn’t. You could buy Katy and wind up in a different school district.
I just ran the townhomes/condos and there is nothing which has sold for $90k or less since January of 2013, perhaps further back. Granted there are several “interesting” listings for homes less than $90k, but they all need work or are in neighborhoods plagued with short sales. Before a short sale there is often deferred maintenance…so even the best of these will probably need work before they would be considered rent ready.
You mentioned you had cash from a home equity loan. Is that cash in the bank…or the plans you have to get the money once you find the home? The latter won’t work…even if you find the home that meets all your parameters; there will be stiff competition…with “ready” cash. If you haven’t already done so, do the loan and have the proof of funds letter ready for your next realtor. Trust me when a client can show bank backed proof of funds…realtors will treat them soooo differently, than that HML letter of promise. (Don’t judge me…lol)
I work with the banks and know when the good ones are coming on the market (sort of sucks because I cannot buy my own listings) and sometimes there are investors already lined up way before the listing hits the internet, so you have to be ready to move fast. So that’s my $.02…okay a nickel.
Good luck in your endeavors and if you decide you’d like the listings I ran, just PM me and I will gladly send them to you. NSA.