As an out of State Investor - Should I have an exclusive realtor?

[Anthony White]

Hello All! 

I am starting out and I have my first out of state deal under contract! 

I was wondering as an out of state investor, is it best to sign with 1 exclusive realtor? 

I feel like working with multiple realtors, wholesales and sometimes even the selling agent - helps me get a feel for the different residential areas and receive tons of opinions, thoughts, history, and even biases about things. 

Thoughts? Advice?

[Charlie MacPherson]

I would recommend having an exclusive agent for a given territory, but you need to be very selective.

First, I would avoid Part-Time Patty like the plague.  Agents who treat this profession like a hobby are the bane of the business.

Find someone who has lived in the area for a long time and knows investments.  If you ask then about the 1% rule and get a blank stare, keep looking.

Finally, be clear and honest about what you expect.  If you're looking for someone to submit hundreds of lowball offers, say so.  If you are, pay them for their time.

BTW - if you're wholesaling without double closing, you're most likely running afoul of the law and might have a hard time getting an agent involved.