Get an agent or just contact sellers?

Question

OK, still working on getting to my first deal. I have been in contact with some folk, wholesalers and investors. I have been looking on realtor.com and movoto, and was wondering, should I be trying to identify a buyers agent for myself prior to contacting any of these selllers on the RE sites?

Chris Davidson · Answer

@John Cervera working on your first deal don't do it alone. I would recommend an agent as you aren't going to be paying them it will come out of the sellers pocket. You don't know what you don't know. There are no downsides to using an agent, and you will look more professional.

My first straight forward LTR in a hard buyers market I went straight to the listing agent and was ignored. I tried to get her to take an offer. Finally got a buyers agent; they wrote up the contract, and then later helped me save more money. You will miss out on more deals by going direct to agent for on market listings.

Keep up the work you got this!

Nathan Gesner · Answer

You should only buy without an agent if you are experienced. The agent will protect you by knowing the market, providing negotiation skills, understanding contracts and law, providing objective feedback while you may be acting on emotions, and much more.

Christian Ehlers · Answer

I'd agree that an agent would be best for you if you are just starting out. Once you've bought a few properties and have really learned what to look for maybe then consider going at it on your own. Your first deal won't make you rich so learn from the professionals (at the seller's expense by the way) and make sure to buy a solid deal (a base hit to use baseball analogies). Last thing you want to do on the first deal is get in over your head and decide "Real estate doesn't work" and be out of the game for life like some people have experienced.

Wale Lawal · Answer

@John Cervera

As you are new you should get in touch with a local agent or investor and shorten your learning curve and save you a lot of headaches as they tend to understand the market better.All the best!

Slaiman Atayee · Answer

If you're a newbie investor I'd say get an agent. Technically you don't have to as the sellers agent could also represent you but you'd generally want to get your own agent which has your own interests in mind and understand your desires/positions to take/overall investment approach to help guide you (theres tons of content on here on how to find a great agent). This is a long term relationship you're looking to build and might take you a few agents and even properties to get right. Also the seller pays for all agent costs anyways so its not like you're paying. Only upside i've seen from not using an agent is I had a previous deal where i came in with no buyer agent and although i was outbid the seller chose me because I wasn't asking for the full buyers agent commision and my net bid was higher (should also disclose I'm a real estate agent in a different city and know what i'm doing when buying). Good luck!

Get an agent or just contact sellers?

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