All Forum Posts by: Connor Hailey
Connor Hailey has started 1 posts and replied 3 times.
Post: Agencies that also invest in rental properties - should I care?
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Quote from @Theresa Harris:
If that is the case, why not ask them how they avoid a conflict of interest because as a client you expect them to show you places that are a good rental; however, if they are also looking to buy those places then you don't want to work with them as they will put their interest ahead of yours (the client).
Post: Agencies that also invest in rental properties - should I care?
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Quote from @Greg Scott:
Are you sure they own them or are just acting as property manager? Many agencies will both sell properties and act as property managers for rental real estate. Seeing their logo on a rental listing does not mean they own it.
To know if they truly own the property, you would need to look up the tax rolls. Frankly, I would be surprised if a real estate agency would want to hold rent properties in the same entity as their brokerage business.
I couldn't say whether the properties are owned by the same legal entity, but the agencies have said point blank that they own properties in the same city as their agency business (distinct from the same agencies' property management businesses which they also do).
Post: Agencies that also invest in rental properties - should I care?
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Hi,
I live in TX and I'm looking to buy a rental property. I'm finding that a lot of real estate agencies also own rental properties/invest their own money. It seems like there could be a conflict of interest (e.g. the agency's investment arm finds the best deals/properties for themselves and pushes properties onto clients that their investment arm has already passed on).
Is this an issue or is there something I'm missing that makes the conflict of interest uncommon?