All Forum Posts by: Account Closed

I commented on your other post, but I'll copy it here. 

That listing agent is not acting ethically at this point. If there are multiple offers and negotiations need to happen, her fiduciary responsibility is to her clients...how can she do so if she is representing more than one? Simply, she can't, but I'm sure you've seen enough agents out here to know that we are not all created the same. In this market, I'm surprised the other buyer is even working with her as the listing agent. It's so unnecessary and doesn't get you any benefit.

I agree with Jake.  That listing agent is not acting ethically at this point.  If there are multiple offers and negotiations need to happen, her fiduciary responsibility is to her clients...how can she do so if she is representing more than one?  Simply, she can't, but I'm sure you've seen enough agents out here to know that we are not all created the same.  In this market, I'm surprised the other buyer is even working with her as the listing agent.  It's so unnecessary and doesn't get you any benefit.

Hi Jim. As an agent, I will say the lack of open houses actually makes this more work as scheduled showings mean less people through your property in the same time frame. And, while the market is hot, you never know what’s going to happen. My last deal went through 4 escrows and took almost 3 months (unfortunately it was all buyer issues), you never know what’s going to happen in a deal. As Matthew said above, you’re paying for a professional. Our commission still involves paying for photos and a virtual tour, digital marketing costs, and mailers (if they do them), plus the time necessary to deal with everything involved. Also, don’t be surprised when the listing agents commission starts higher than 2.5%, the best agents at that price point can pull 3.5%

@Igor Nastaskin it really depends on what street this complex is on.  The area between Toluca Lake and NoHo can be very hit and miss as far as look and feel of the neighborhood.  The nicer streets should get you higher rents and make them easier to rent out.  That being said, we don't really know what Covid19 is going to do the real estate market at this point.  If a lot of companies are allowing people to work from home, there may be less demand for rentals as many buyers are starting to look at more permanent places.  The market, as of late, has been rather busy with buyers since they have been stuck at home and are now wanting to change what that looks like.  The area you're discussing has some great draws though with  parks and schools, and tons of new restaurants (well, there were at least).  There will always be people moving to the LA area and the pocket you are describing is still improving itself.  I don't think you will have too much trouble renting out these units, especially since it sounds like they are townhome-style which many people prefer out here.  Best of luck to you!

@Jonathan K. I also work those areas, in addition to, South Central areas (Compton, Leimert Park, Jefferson Park, Inglewood, Park Hills Heights, etc). Happy to chat with you at any point!

@Wei Cho I’m glad you made it work out! I know you were struggling in the beginning and at least you won’t make the same mistakes on the next one. Congrats!

@Wiley Strahan I’m an agent in LA that works the south LA market, including Inglewood and have a few new clients looking in the Hawthorne, Huntington Park, and Lennox areas. I don’t do any investing on my own at this point, for many different reasons, but the biggest issue being time to devote to that process. Anyway, I’ll shoot you a message with my contact info. I’d be happy to set up a time to chat about your goals.

@Steven Valdez-Acosta Hi Steven. I’m an agent here in Los Angeles and I would be happy to speak with you. I’ll send you a colleague request and email so I can send you my contact info.

@Maxwell Banton I have a couple clients who are in the same boat, but we haven’t found a place yet. Have you started your loan approval process yet? You have to find out how much you qualify for as not everyone gets the maximum. I’d be happy to chat with you further. Let me know