Woodland Hills, CA · Member since 2014 · 42 posts · 1 vote
I have a real estate agent on my team who sends me listings to look for property to invest in. I have never bought or sold a property yet, I am brand new to investing and I don't know what to do now that I've seen this distressed property that I want to find out about. Is the realtor supposed to approach the owner or should I . I am in CA so I believe the real estate agent has to speak to the owner. I really need some direction because I don't want to lose out on this.
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
11y
I believe the OP is referring to a non listed property. Since the question was asked the way it was, a knowledgeable agent would likely have a better chance of assessing the situation.
Investor · Los Angeles, CA · Member since 2014 · 33 posts · 9 votes
11y
@Brenda A. There is nothing legally wrong with talking to the owner directly. However, you cannot do a transaction and cut out your agents.
You should be aware though that it may be frowned upon (especially on the selling agent's side) to talk to the owner directly without asking them (selling agent) first. If you think there is some particular advantage to talking with the owner directly, then ask their agent first.
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
11y
I believe the OP is referring to a non listed property. Since the question was asked the way it was, a knowledgeable agent would likely have a better chance of assessing the situation.
Woodland Hills, CA · Member since 2014 · 42 posts · 1 vote
11y
Thanks for the many responses to my question. First I would never try to cut any agent out of their commission especially since she is the person responsible for me learning about the property. I was just curious about what steps to take when working with a real estate agent. Maybe I'm just the greenest wanna be investor in the world! I am anxious to get my investment business started.
Visalia-Fresno, CA · Member since 2009 · 1k+ posts · 863 votes
11y
@Brenda A. Knock on the door. Send me the address and I will send you the owner information. It is literally at my finger tips. I wouldn't get your real estate agent involved. 99.99% of them will screw up a good deal and just add another layer of confusion between you and the owner, this experience is coming from my personal experience.... and I am an agent but own property. I might be shooting myself in the foot but it's the truth.
If it is a distressed property that is possibly owned free and clear, or with equity you have a few options. The owner is probably flooded with letters from "we buy houses" people. Knock on the door or go directly to the owners house and make it know you are serious.
Flipper/Rehabber · Savannah, GA · Member since 2014 · 3 posts · 0 votes
11y
That is probably the worst advice I've heard today. Particularly coming from an agent.
If your agent sent you a listing, please tell him/her that you're interested and ask them to set up a showing, write an offer, or just be up front with them and let them know you need to know the next step. Everyone starts at the bottom, and you don't know what you don't know. If you are truly trying to build a "team" to help you with your investing, sit down with them and tell them you're green but have goals.
The quickest way to lose a good agent is to take the listing info from them and then backdoor the deal.