What do you look for in an Realtor you work with?

Question

Hi All!
          
          This board is a Revelation. Just Fantastic, I've been lurking for weeks and finally decided to join.
          
          Anyways, I'm a Realtor/Investor in the Lehigh Valley, Pa. and I am looking to gear my business on the Real Estate selling side to working with investors as well.
          
          I know what I'd look for but I dont have to since I am a Realtor already so....
          
          My question is as investors what qualities or skills do you look for when choosing a Realtor to work with?
          
          Also the agent your working with now, where did you find them?
          
          Thanks and again I'm happy to be a part of this community.
 
          Jeremy

P.S. Sorry for the mispelling in the title, Caught it afterwards and dont know how to change it now.

Matthew J. T. · Answer

I look for a Realtor that can provide me comps, hassle free, and quickly.  I find it frustrating at times working with them, even though I work with a few good ones, it's just really a big headache being in a Non-Disclosure state having to RELY on realtors, in order to get comps and reliable data that can take time.  I soon plan on moving to a regular state that is a disclosure state that way I don't have to rely on realtors for comps.  I expect Realtors to be friendly, professional, and comfortable providing with comps, that is there job, if they don't like it they shouldn't have gotten licensed.  There are a few good realtors, you just have to find them, it's still a pain non the less relying on them being in a non-disclosure state.

Jackie Patterson · Answer

Hi Jeremy,
                    
                    Welcome!  
                    
                    We have a nationwide short sale investment company and work with many Realtors.  My husband Bill and I also have real estate licenses, and Bill is a Broker.  We mainly use our licenses for marketing our condo development.  
                    
                    What do we look for in a Realtor?  
Someone that is easily accessible, and will follow through. We look for Realtors that understand our process, will take the time to look for good comps, meet with the BPO agent, be good communicators with us and the home owner, and sometimes help gather documents from the homeowners.  In other words, willing to do whatever it takes to get the job done.  Since we are nationwide, we rely on our Realtors to meet with a contractor and get estimated prices on repairs, tell us (and sometimes send pictures) about any deficiencies in the home or neighborhood, and generally go the extra mile to get us to closing.  We expect a great job, and we also reward our Realtors with a larger commission.
                    
                    We get referrals from agents because our process is a huge advantage to the listing realtor.  The realtor does not have to negotiate the short sale, the buyer doesn't end up walking because they don't want to wait 3 months to see if their offer is accepted, and the realtor's commission is protected.  Less work, more money, and better outcome!  
                    
                    Where do we find our Realtors?  
When we get a file in an area where we don't have a relationship with a Realtor, we study online profiles and websites, and then call and interview to find an agent we want to make the referral to.  When they see how the process works, those agents often end up referring their short sales to us so we have an ongoing relationship.  Many agents also find us through social networking or referrals from other agents and clients.
                    
                    I think we do have an advantage finding agents to work with since we are also Realtors so can "talk the talk".  The fact that we are members of our local board, as well as the state board and NAR, also probably gives us credibility.
                    
                    Once again, welcome to Bigger Pockets.

J Scott · Answer

As long as they're happy with the arrangement, that's all that matters...

Matthew J. T. · Answer

I live in a non disclosure state, I don't use anybody or mooch off anybody, and assuming that is flat out silly.  I work with realtors who rehab as well, so basically if they give me comps, in exchange for that is I let them be the first to know about my wholesale deals, to me that is fair, and I don't consider that mooching.

J Scott · Answer

Well, it depends...are you asking for comps and in return you are using the agent to buy and/or sell your properties?

If so, you're absolutely correct that this is part of their job and what they get commission for.

But, if you're asking for comps without any intention of using the agent for any paid services, then he was correct that you're being a moocher.

Matthew J. T. · Answer

Moochers like Matt seems to be? LOL That  That made me laugh, listen, nobody is asking you for comps, or for your help, nor is anybody asking for the world here either.  And if it is seriously that hard for you, guess what?   Nobody will need you, or want you, and you are only making it harder for yourself, because it is a people business.  There are thousands of realtors willing to provide comps! It's not that big of a deal! So people like you aren't needed ,  because there IS people willing to working with others without it being a pain.

Ed L. · Answer

Excellent Advice.

I consider myself a good to great realtor for people looking to buy retail home.

I consider myself a horrible realtor for investors....  If it's truly a good deal I will be buying it...

Be sure that you find a new agent who is a hustler and who is also full time.

Part time agents,,,,  About like having a car that doesn't crank except for in the evening and on weekends.  AVOID

Jon M. · Answer

Find agents that work in the specific area of real estate that you are interested in, and give them a call. Find one that understands what you are looking for, and is interested in working with you. Make sure it's someone you can relate to, and feel comfortable with. Always rely on your own judgment, and never get into a deal you don't feel good about.

Justin S. · Answer

The best realtors already have a client base and/or invest themselves.  You want to look for the cream of crop of the new realtors.  In return you should be showing you are a real buyer with cash or a real LSR, and you can close.  No one likes a time waster.

Casey S. · Answer

Availability and responsiveness are number one. I can get an email MLS update at 9:00am, call her, see the property at lunch, meet her later that afternoon to sign an offer. If a realtor is holding back the buying process they are potentially costing you a good buy.

Dependability. If she says something will be done or she will make a call it gets done.

Thoroughness. Make sure Is are dotted and any potential snag is IDed ahead of time.

Support. If I need something done like showing a rental because I am busy at work she doesn't mind helping out. She has even gone as far as covering a $1000 cost for me until I could get back to town.

Comps are on the bottom of my list. I live in a small market <150,000 and I pretty much know every neighborhood in town and the details of any listing in my price range in the last year. To me the number one rule of investing in anything is know thy market. I don't really trust anyone else to do that. She does pull comps but they always tell me what i already know.

We ended up with each other as a result of me calling a number on a sign when I was just getting started. Lots of agents shun those calls but she has gotten three sales in under a year and an active listing as a result.

What do you look for in an Realtor you work with?

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