How Do Investor Friendly Agents Function??

[Andraise Scott]

As investors we're taught that it's common for us to put in many offers to land one contract at a price that works for an investment deal.  Well, a realtor that I've worked with and have purchased with tells me that it takes like 2 hours for her to put a contract together.     So, unless (I guess) she feels confident about the offer, she'd rather not spend the time putting it together.

Is there like a short cut offer procedure that "investor friendly" realtors use to make this process faster or something?  I would think that maybe for investor clients that they would have a template saved for each investor with just a few fields to update for each offer.  How does that work?  I like this realtor and I would like to continue to work with her but I don't want her peaved at me every time I want to put in an offer.  Or, feel like I need to offer more than I want to so she'll do the offer.  Is there a procedure that I can pull her coat tail too?

[Azeez K.]

Hi @Andraise Scott 

I am an investor and a Realtor so I can speak from both perspective. 

Investor POV: Let's put multiple offers out there and let's see what sticks. How difficult is it to put an offer on multiple properties. I have a Realtor and let's have him/her put offers on different properties. I just want to get properties under contract so I can vet them through during the due diligence phase.

Realtor POV: I am working for free. I will only get paid when you (Investor) actually close on the property. My time is money. Now when Mr./Ms. Investor you ask me to put an offer on the property I don't know if I will be paid. I will have to log in to MLS navigate to the form get the relevant details on the property i.e. legal description which I have to look up in county clerk records and search for all the relevant information make sure I check and cross check that all information is accurate. Get the documents ready send it to you to sign..if I messed something I will have to update and re-send Mr./Ms.Investor the documents and then communicate the offer to the sellers agent and follow up etc. Obviously there is a template. However, things like legal description etc have to be searched special stipulations have to be entered price needs to be checked and a lot of follow up needs to happen in the background.

Investor POV: Property gets under contract..all is good. I realize that this is not a deal cuz as an investor I am wanting to pick a property for 15-20% below market value. So Investor does not go with the said deal.

Realtor POV: All this work for what! This Investor is wasting my time. He/She is not serious. I am gonna look for a Seller cuz I know that I will get paid in that deal.

Is there a procedure?

Well you have to create a team. The team includes real estate agents who are specialist in your farming area. You need to specify your exact criteria and give some serious thought to what you want and show that you have necessary pre-approvals and funds to close and are confident that if a deal comes by you will close on it. You could work with different real estate agents in different farming areas. You should also educate yourself in analyzing properties. The more properties you analyze the better you will get at picking good from bad. You then ask your real estate team to put offers on properties that you are confident will make you money/your criteria..don't simply place offers for placing offers. If you can't find anyone then get your own license and write contracts as you want. **There are disclosures that you would need to make if you go down the path of getting your own license. 

At the end of the day as an investor look for win win situation. Provide incentives to the realtor as referrals or repeat business and educate yourself as an investor so you are only putting offers on properties that meet your criteria and be respectful of the agent times. You will have a higher chance succeeding. 

Hope that answers your questions.