All Forum Posts by: Tom Webber

@Thomas S. Yes, that is pretty accurate. Listing agents are 100% motivated to close their deal for their seller. Obviously agents would like to get both sides of the deal for their commission. 

IF you take a step back from everyone who loves to worry about agents and what they do or don't do and what they make or don't make on any deal; we would find that at the end of the day it should be about the deal and the position of a buyer (since we are talking about a buyer) 

I feel as though no matter what, the agent(s) involved should be providing great information to any and all parties and should be providing accurate comps to reflect value not including extent of repairs. 

Bottom line is once someone becomes seasoned in buying and selling real estate they will be able to get more experience in procuring the best deal for themselves or not. 

I tell all my clients, I am willing to walk away from any deal. I don't need to sell them a house to pay my bills. If it doesn't make sense number wise then move on to the next. You have to buy right in order to make a decent return. Agent or no Agent. 

@Mike D. I'm a Broker here in the area and I will tell you that dual agency is very tricky when working both sides of the deal. 

If I was a buyer I would always want my own representation. There is more leverage when dealing with an agent who knows how to negotiate on your behalf. Dual agency is more like transactional brokerage. But what happens is more often than not the agent ends up favoring whichever client they have a longer relationship with. 

If you want some assistance before writing an offer, I would be happy to help. Drop me a line on my bigger pockets inbox. You may end up with a better deal than working with the listing agent directly.

Yes, as someone who is a Broker in both states of Iowa, and Illinois. Brokers in IL are just that an agent with a new title. The actual Broker of a firm would have a Managing Brokers license. 

Here in Iowa, A Broker is still a Broker and a Real Estate agent is just a licensee. 

Regardless of your pursuits if you are not a Principal Broker of a firm than any rental property or listing belongs to them not the agent. 

Rule of thumb - If you are collecting a fee for property you have no financial interest in, you would more than likely need a license no matter what state you reside.  

Hey @Samantha N. 

 I am a Real Estate Broker and investor in the Iowa City and Cedar Rapids markets. I just sold an investment house to a flipper who is working to get it ready to go back on the market. I can assist you in finding you some deals in the area. There are plenty of agents to choose from but how many are on Bigger Pockets? 

Let me know how I can help, Thanks!

Get a hold of me, I would love to meet up and pick your brain about digital marketing. 

@Charles Haggett

@Charles HaggettHere is the info on the meetup Charles. Hope to see you there next month!

Meetup Link

@Terry Koepp

Hey Terry,

I have a couple friends from the Iowa City Investor Meetup who are avid tax lien buyers in Eastern Iowa and Illinois. They are super friendly and enjoy talking about it.

Touch base with them at:

Shawn Frederick & John Powers with F & P Ventures LLC

shawn.fandpventures@gmail & john.fandpventures@gmail

Tell them I sent you and see if they can assist you or have you tag along.

They did a presentation last wed at the meetup about tax liens and I know they were interested in getting a pool of investors to tackle the area together. They were going to talk more about it next month.

Hey Terry, 

 I have a couple friends from the Iowa City Investor Meetup who are avid tax lien buyers in Eastern Iowa and Illinois. They are super friendly and enjoy talking about it. 

Touch base with them at:

Shawn Frederick & John Powers with F & P Ventures LLC

shawn.fandpventures@gmail  & john.fandpventures@gmail

Tell them I sent you and see if they can assist you or have you tag along. 

They did a presentation last wed at the meetup about tax liens and I know they were interested in getting a pool of investors to tackle the area together. They were going to talk more about it next month.

@Mona Medina from a perspective of an agent who has worked many years with investors. I can recommend a few things. 

As an Agent TIME is your number one asset. Second is market knowledge. I have dealt with every kind of investor and they are an interesting bunch. I know because I am one as well. 

Some will want to be spoon fed everything, some will never do anything, some will be so picky that they never find the "right" deal even when it is staring at them in the face!! Some are so busy and making deals they need properties all the time. Find those investors. They are professionals. You are a professional, treat yourself as such and you will be fine. 

Work with everyone to some capacity but know who your A players are, your B players and those that are C. C are the ones who might do a deal in the next 2 yrs and then may do another in the next 2 yrs. Follow up with them less frequently and if they demand too much of your time, feel free to cut ties.

As an investor you need an agent who knows what you want, your level of risk, where you want deals, and potentials outside your comfort zone. IF you provide them that service and when you see or hear a deal that fits their needs- call, email, text, smoke signal, morse code do whatever you can to get their attention that you have a hot deal. 

If they don't jump on it, tell the next one and so on down your list. Keep updating your list and your notes on your investors. Their needs change as they grow and learn more about their business. 

BY ALL means you will want investors in your pipeline. They provide repeat business, referrals, exposure, advertising, etc.. This all aids in developing your brand and your business.

Hope this helps

Tom Webber

I have offered on lots of HUD Homes in the past with some success. When you are open to offer as an investor like Lisa said HUD really cares about the NET number they will get out of the deal. I also used to list HUD properties and can tell you they have a magic number of somewhere in the 83-86% of list price for their NET number. That means if you can offer in that range of list price so they NET after commissions etc.. than you stand a good chance to get the deal barring you are not going highest and best with multiple offers.

Hope that helps, good luck!