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Updated over 6 years ago on . Most recent reply

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Michael Newman
  • Staten Island, NY
6
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67
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In Need of Broker Network

Michael Newman
  • Staten Island, NY
Posted
Hello everyone, I would like to have brokers who’d inform me of deals that meet my criteria. How does one go about doing thIs. I have a meetIng wIth one monday but I want multiple sources of deals

Most Popular Reply

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Jeff Copeland
  • Real Estate Agent
  • Tampa Bay/St Petersburg, FL
2,065
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Jeff Copeland
  • Real Estate Agent
  • Tampa Bay/St Petersburg, FL
Replied

I suggest taking the opposite approach - find one top-notch investor-friendly buyer's agent who understands your market and your needs, and will help you meet your goals, and that is all you'll need (until you expand into other markets, or into other areas of real estate, such as commercial). 

For the most part, real estate brokers and agents all have access to the same inventory of properties for sale (via the MLS, and local investor networks, wholesalers, whatever - believe me, we all end up on the same lists seeing the same properties for sale - there is no secret source that only one broker has access to), so trying to pit multiple brokers/agents against each other is a sure-fire way to burn multiple bridges.

And I'd even take that a step further and caution you that "Send me all of your best deals" is the wrong conversation to have with your broker/agent. Successful investors don't really need help finding deals (we all have internet and email access), they need a trusted business partner to help them with market analysis, due diligence, financing, inspections, negotiations, and a host of other issues that will inevitably pop up. 

In a similar vein, the best brokers/agents don't view themselves as "salespeople", they view themselves as due diligence and negotiation experts with advanced market expertise. 

In other words, find an agent you can't live without because of the value (in terms of knowledge, skill, and abilities) they bring to the table, rather than looking for 10 agents who don't know or care what you're trying to do and are just trying to compete for a single commission check by "sending you deals". If you ask the wrong questions, you'll get the wrong answers.

  • Jeff Copeland

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