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Updated almost 11 years ago on . Most recent reply

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Yvonne Oliea
  • Investor
  • Springfield, IL
2
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34
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Should you trust a broker.

Yvonne Oliea
  • Investor
  • Springfield, IL
Posted

I was told by an experienced investor to never work with a broker that is in the real estate investing game because they can or will undercut you when your attempting to buy rental property. In other words, send in a straw buyer to out bid you. Does anyone agree?

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Curtis Bidwell
  • Rental Property Investor
  • Olympia, WA
742
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Curtis Bidwell
  • Rental Property Investor
  • Olympia, WA
Replied

It does the broker no good to undercut their investor clients.  They will quickly get a reputation and won't have any business amongst investors.  A long term relationship outweighs the short tem gain. Get to know a reputable broker and learn to trust them.  

I have an excellent relationship with my broker and have received some awesome deals as a result of the relationship.  As an investor herself, my broker understands what I'm after.  She has often given me first option on a property that fits my profile before moving on it herself.

I'm sure not every broker operates this way, but there are plenty of ethical people in the business.  Go build some bridges and make some deals!

  • Curtis Bidwell
  • Podcast Guest on Show #95
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