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Updated about 3 years ago, 12/26/2021
Time for a new agent?
Hi BP community. I've been struggling with something recently that I was hoping to gain perspective on from those who have been there and are more experienced than I.
I've been working exclusively with an agent for the past ~1.5 years of my real estate investing journey. She's been great overall and has epitomized "trusted advisor" status, finding and helping me close on 3 SF properties in the Nashville area.
The past 6 months have not been so great however. I switched my focus to small multifamily and have asked for help again, but she has not sent me one small MF property to view. Instead, I've sent her several small MF properties over this period and asked for her perspective. She has provided this along with virtually showing me the properties when appropriate (I'm out of state), which have resulted in 3 offers but none accepted.
I don't blame her for the offers I made not getting accepted, but I would really like her to be more proactive in sending me small MF properties like she once did for SF properties. Recognizing the market has heated up substantially since we first started working together, I'm not sure if I should chalk this up solely to that or if she is simply just not very interested in helping me land my first small MF deal.
A few things I do know from trying to feel this out with her myself is that she personally favors SF properties over small MF properties, and seems to be constantly busy working on larger deals for wealthy clients buying in the $1M+ range. While my budget isn't that high, I do think it is attractive enough being in the $300K-$600K range. I asked her directly if she was too busy to help when we first started looking again to which she confirmed that she wasn't.
Should I be considering a new agent at this point or is this just how things are in today's hyper-competitive market when working with an agent?
I don't want to work with a new agent, as we've built a great relationship and significant trust, but I'm also adamant about landing by first small MF deal by early Feb as I will be moving out of the country and want to offload management of my portfolio to a property management company. It is also painful watching my hard earned dollars wasting away to inflation while sitting in my Ally "high yield" savings account waiting for an opportunity.
--Ryan