All Forum Posts by: Rose Higgens

@Craig Parsons

I misunderstood you. When I read your post, it sounded as though you were reaching out to agents as a buyer. Typically buyers elect to have their own agent represent them. Using the listing agent is kind of like using the defendant’s attorney rather than have your own.

In your case, yes - an agent should be returning your calls. This is something even agents like myself are dealing with in this incredibly competitive market. There’s so little inventory in most markets across the US that an hour after a new home has been listed, an agent can get upwards of 100 phone calls (mostly from other agents). If you’re trying to find deals in this market, your best bet is to look off-market until things settle down. In my area, homes sell for a minimum of $40-$70k over the listed price and good luck getting a listing agent to return your calls. I certainly don’t agree with the lack of professionalism (in no other industry would it be consider acceptable to not return a phone call), but with the market the way it is, we have to give more allowances than usual for agents because it’s not normal to have this volume of inquiries.

@Craig Parsons

There’s kind of two assumptions here.

First - Not every agent is investor friendly. It requires more time to put a sale together since investors want a deal and sellers want market value (or higher). Alternatively, an agent needs the right network to know when an opportunity comes on the market. Speaking from my own experience, I get a lot of “bring me a deal” which any experienced investor knows that it takes time to source and find a deal where the numbers make sense. Most seasoned agents just don’t have the bandwidth to do that work for someone. And often the “investors” we speak to haven’t brought us business to warrant being the first call when we stumble upon one.

Second - consumers tend to be far more flaky than agents. We can’t discern a seasoned buyer from an energy vampire. Keep in mind, agents only get paid for closing on homes, there’s no hourly charge for using an agent’s time. That means they have to budget for every second not spent prospecting or working on a sale.

I would change my approach. Find an agent that markets themselves to investors. YOU source the homes you want to see and send them to your agent. Also, we get spammed with 100+ emails a day so pick up the phone or text. After you’ve worked together, your agent will be much quicker to respond.

@Andy R.

Anytime you invest in real estate in another state, you need to register your LLC as a foreign entity with the Secretary of State office in that state. Otherwise, you could owe back taxes and you will not be able to file a lawsuit such as an eviction in that state.

@Cory Lucas

Technically speaking, every property is sold “As is” - there is legally no difference between an As-Is-Where-Is and a regular sale, except the seller is openly marketing the fact that they do not intend to make any concessions or repairs. Basically saying “Take it or leave it”.

With these types of sales, negotiating is like pulling teeth. You’re better off giving a conservative number to start. If the seller declines, encourage them to hold onto your contact information in case things change and follow up every few weeks to reiterate your interest. That’s about all you can do.

@Gerardo Hernandez

If the numbers don’t make sense, pull your offer. You can pull it any time before it’s accepted. Have your agent do that ASAP.