Using a single broker vs. many to find deals

[Dave Wyman]

Hey BP community!

I am just starting out on my real estate journey and would love some input from more experienced investors.

Should I only use one broker to find and represent me in looking for small and medium multifamily apartments or should I reach out to multiple brokers and only use the listing broker?

What are the pros and cons to each and anything else I should be thinking about or looking for?

Thanks!

[Doug Smith]

Not all agents are equal and all agents will have access to the MLS in your area. I've tried both ways and I've found building a strong relationship with one really knowledgable agent that really knows real estate investment, codes, contracts, etc is worth it's weight in gold. Like any relationship, I think loyalty is very important. A lot of your deals you'll get from wholesalers (not agents) and it's really nice to be able to pick up the phone, call your great agent, and have them run your ARV and formulate an exit strategy rather than trust the wholesaler. I never use the listing agent. Different jurisdictions have different rules, but the listing agent is going to have loyalty to the seller. You want someone with loyalty to you. It may not answer your question, but I truly hope it helps. Good luck to you!