All Forum Posts by: Jennifer Lee

5. DUPLEX/TOWNHOUSE: MLS, I gave up my commission, seller only paid listor. with my current brokerage

4. 5 MIXED USE BLDG: MLS as a realtor, represented myself (commercial), would have given up commission but ex-brokerage would frown. and my commercial mentor took a % cut. LOL for "advise"

3. FLIP: Before i became an agent, found it (MLS), called my AGENT, I became a Realtor to Sell it.

2. SINGLE TENANT COMMERCIAL: Found it, saw sign (MLS) called my Agent

1. COMMERCIAL IN STRIP MALL: Found it, saw sign (MLS), called my agent

in fact, I found all my deals and called my agent...that's why I go MY LICENSE

i think we forgot that some bank owned property has stipulations about selling right away, or they have issues with assignment.

congratulations!

please keep us posted on progress of this property!

I think we are all emotionally vested following you.

I have been reading this for 4 yrs myself ;)

I 100% agree with last 2 poster.

you never know. in my area bank is emotional and irrational too. seller may be desperate.

I'm learning too, if it doesn't make sense move on, or come back later hope seller cools off

hi tone

welcome to BP, Pittsburgh has a few great REI groups!

I'm also a local investor in the area

Hi BP

3 yrs ago, you encouraged me to be get my license, after 12 yrs of investing.

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WHY INVESTOR FRIENDLY REALTORS ARE HARD TO FIND???

I realized that just because you are an agent doesn't make you an investor.

REALTOR by definition is in SALES. Most efficient way to succeed is to find the path of least resistance, get the highest possible price and close the deal as smoothly as you can.  

INVESTOR by definition is looking for VALUE. Most efficient way to succeed is to gather as much information, and purchase at lowest price.  Closing the deal is optional, but they will BUY IF they find the "perfect" deal.  There is NO TIME FRAME. There is NO REAL LOYALTY either. They go where the deals go!

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There are just different kinds of agents. just like there are different kinds of doctors. If you need surgery you don't go to your GP, you go to a surgeon.

Investor friendly agent like me are around, BUT I find we tend not to advertise we are..... here is why, in my opinion....

Like most investor/realtors, I got my license mostly to facilitate my own deal. and help other investors along the way.  My time is split between my own properties and my clients.

Investor friendly agent I found go by WORD OF MOUTH.

I find eventually investor friendly agents can only handle a few pocket investors, because investors are a repeat business and a relationship business.  After my 2nd year, I started to SCREEN my investor clients.

I like to joke that I have many "boyfriends", and its nice that they all are interested in different thing so no jealousy. As I do a daily scrub on the MLS. I can shoot multis to A, REOs to B, and commercial to C.

Most importantly there is not conflict of interest in my part bc I also invest completely differently from my clients.  This reduces my stress level too.

Also I tend to go back to the investor that know what they are doing and are ready to close.

I find I am most efficient if I just facilitate their transactions.  I setup a broad search, because there is NO MAGIC INVESTMENT PROPERTY BUTTON on the MLS, and they scrub through it, They know their #s best.

I just help them with the resources I have available that they don't have. And sometime they have me make the offer or list in return.

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I think the time realtors need to invest on investors, and the knowledge realtors need to cater to one is the barrier to entry.  The Lack of Return and Lack of Support from Brokerage dissuade most.  

On the other side of the coin, if you TREAT a good investor friendly realtor RIGHT, you will find a great partnership. 

If you use and abuse a good investor friendly realtor, you will have a hard time finding one in general. 

u can do it, only it depends who you hang your license with.

for me, I just say, I'm licensed. I'm representing myself. seller pays only listor. seller don't owe me any commission.

if my last company knew I would be big trouble. I moved to an investor friendlier company.

where I am my cost is $3000 annually just for license and brokerage.

i don't make money as agent. I make my income from my REI cash flow.

zillow estimate is off depending on where u are.

I called on a listing... fsbo

owner: hmmm funny thing my house isn't for sale and all of a sudden I get a ton of activity!?

me: it listed on zillow for sale

owner: oh.....while I have you, how much is it for sale for.

me:   $------

owner: what! no way that way too low!!

me: I know, hence the activity.

owner: no I need to look into this

me: yes and check your ID, because I got you ### from zillow

owner: Thx.......

@Ryan Dossey

last wk I made offer for a client on commercial bldg. 50% vacant ;)

me: following up on offer

agent: reject with no counter

me: OK......(asked about why and etc)

agent: seller won't consider anything below asking. [don't come back] til u have full price offer.

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ha! full price is 100%occupancy value cap.

need some TLC.

today I made a call:

me: I would like to preview a commercial mixed used unit...

agent: sure before you go please consider that its a total rehab, need elevator, sprinkler and mechanical. please have you buyer understand, by MY calculation that it need $2M in renov... (15000 sqft)

me: thank you for heads up, I'll talk to my client....

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me: any room for negotiation?

agent: little to none!

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lol OK... on market a while, had an offer fall through and over priced.