On finding a real estate agent

[N/A N/A]

I was writing down some questions that I'm going to ask to prospective real estate agents. I'm going to make sure that the agent is totally aware of my buying requirements and the fact that when I submit an offer through him/her that it will normally be low but eventually one or two offers will be accepted. I was going to posture that I would allow the agent I purchase through also do the listing after it is rehabbed and ready to sell.

Then I got to thinking just because the agent is capable of providing me with a list of prospective properties that meet my requirements on a regular basis and submitting my offers doesn't mean he/she will be an equally capble selling agent. Some of the top selling agents I'm sure aren't going to be as easily accessible because they are busy selling and not pulling distressed property lists and submitting offers to purchase. But on the other hand it seems that by going to one agent to buy and another agent to sell it will catch up with me in the end and probably have less than lackluster relationships with the agents.

Does anyone use two different agents? I would think that practice would be frowned upon.

[Jim Gordon]

I would suggest that you use the same agent to buy and sell. That way you are showing loyalty to that agent that is a member of your team. One suggestion that I don't see used enough is to have a local open house after a rehab. On a Saturday after the rehab is done the realtor should hold the home open for about 3 hours. Distribute flyers to invite the surrounding homes, nearest couple of hundred. Have refreshments and show upgrades and before and after pictures.Everyone is interested in what you have done to the home and it's the realtors job to promote it.

[Matt H]

If you're planning to do this then I have some advice. In my opinion you'll be hard pressed to find an experienced agent that will be willing to do that much work to find a property for you. But what you could do is search the mls listings yourself and when you know what properties you want to make offers on then just go to just about any agent and say I'd like to write up offers on all of these and see which one I might get. Then after you do one deal and the realtor actually get paid, and then they realize your serious about this, and not just some wildcard then they might be more interested in doing a little more work for you. Maybe even finding you the properties to make offers on. But without at least one deal done who's going to go out of their way? Realtors have a pecking order of their clients.

Also when you go to sell, don't worry about who you list with. What you absolutely must do is just get on the mls. And the cheapest way to do that is using a "Flat Fee" realestate agency. They generally save you about 40% in realtors commissions. Because there's usually like perhaps a 2% chance that the realtor who lists your house will actually find the buyer as well. The buyer is found by being on the mls and having thousands of realtors with their own clients looking up your home and then scheduling to come and see it. I would never ever pay some agency that claims they will give you the most exposure and all that crap. Just go flat fee, get on the mls, and save the commissions. You'll sell just as fast.