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Updated over 6 years ago on . Most recent reply

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36
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Jared G.
  • Washington, DC
12
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36
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What do I make of what my realtor is telling me? Is it normal?

Jared G.
  • Washington, DC
Posted

I have been speaking with a realtor for a few weeks now; she was a work colleague's recommendation. We get along well and she is very professional but I'm not exactly sure what's happening here. 

She offered to get together to meet for the first time, we did, we talked for a few hours, and she has forwarded me MLS listings since. She is very familiar and knowledgeable about REI, even recommended neighborhoods that I had already heard great things about. All this is well and good.

However, I'm not sure if she's actually working for me or not, as strange as it sounds. She has been a great mentor, yes, but what constitutes "working" for me? The reason I ask is because she won't straight up tell me cold, hard facts or information. She won't send me properties to consider, just "clues." Is this normal? 

What's happening is I am trying to evaluate deals with the MLS listings (dozens at a time), and then when I send her a property that looks promising, she gives me mysterious replies like, "You're getting closer..." What does this mean? It reminds me of a teacher who wants me to find the answer for myself, rather than simply telling me. But is that what's supposed to happen?


Is this normal? I'm not trying to disrespect her time or make more work for her, I simply don't know. Is it "bad form" to want your realtor to just lead you directly to properties that match what you want (in this case, cash-flowing and in my price range)? 

I have no problem evaluating deals myself but she seems to hold all the information -- she knows what expenses are for that area, what places will rent for, what makes a low but competitive offer, etc, but won't tell me. I'm just wondering why such mystery. What am I expected to do and what portion does she do?

Most Popular Reply

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Jay Hinrichs
Professional Services
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
62,786
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42,649
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Jay Hinrichs
Professional Services
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

if your going to buy rentals this is very vanilla basic real estate.

you need to not rely on others to give you market rents.. ( call a PM if your curious) or look at the adds in the paper or on line.

then its just all working it backwards you should already be pre approved for a loan.. no reason to even look if you dont have that in hand.. most realtors ( my wife included) wont work with a client without a pre approval form a trusted lender.

do some of your own work and research this simply is not that hard..  the realtors are not your investment advisors.. 

talk to your CPA as well.. so on and so froth educate yourself.

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JLH Capital Partners

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