Do You Use Listing Realtors or Build a Relationship with a Specific Realtor

[Phil Moeller]

Hello All - this is my first post so I'm looking forward to some good feedback!

I started investing in July 2013 and am up to 5 properties (4 single family, 1 duplex).  My strategy is buy, fix and hold investing, with potentially some flips along the way.  Thus far I have been working with the listing agent on any properties that I am interested in.  I have done this b/c I've heard on other podcasts and read that by working with the listing realtor you may have a better opportunity for a deal because they will get 6% of the sale vs. just 3%. 

I've had 2 discussions with realtors in the last week and they recommend that I use 1 realtor that serves me well.  I also beleive that this is the most common approach.

To my Question: What is everyone elses approach.  Do you go to the listing agent, or do you have a go to realtors that you use almost exlucively?  Also interested in your reasoning.

Thanks in advance for the help!

Phil

[Karl Krentzel]

Originally posted by @Phil Moeller:

Thanks for the feedback everyone.  As I said............to this point I have used the different listing agents.  It has been good for me to get to network and get to know some of the agents and there aren't a lot, I'm in a 'city' of only 20,000 people.  I have used that process to find who I think are the better agents.  I plan on working with one of them exclusively that I think is the best to give them a shot at proving that having one agent is the best approach. 

I have to admit that I'm still not convinced that this will work because I'm not getting  insight or deals brought to me, but maybe that will come as I do more deals with one agent and create a stronger relationship.  I like the idea of a specific realtor looking out for my best interest (instead of the sellers), I'm just not convinced that they are really doing that, I get the feeling they just want the deal.  Maybe I just haven't found the realtor that really works for me yet.

 Excellent question! 

As an Investing Broker, I have a particular thought process that I think is particularly helpful for the unlicensed in this situation.

I've spent over 18 years as a Listing agent, a Buyers agent, and an Investing agent working on my own behalf.  

I can assure you, that the hands down, best way I've found to get the BEST deals, is with (Drum roll please....)

Your Own Agent....  Here's Why! 

Working with your own Buyer's Agent

By developing a working relationship with one agent in your town that you feel comfortable working with, you will gain the following....

1. Access to MLS Deals
2. Accurate, virtually instant comparables for your own deals
3. Leads that the Agent does not want (they have them) 
4. Leads that the Agent knows about that have "Special circumstances"
5. Contract preparation/Presentation
6. REO/Short Sale/HUD Access
7. Access to Expired as well as Cancelled Listings

Of course, none of this comes for free.  In any good relationship, it is give and take.  You can offer to exchange your leads that you don't want, or can't do anything with for free information and/or contract assistance.

It Takes A Special Kind of Agent

Not all agents will be the kind of agent you want.  Finding them is a bit of an art, but can be done.  I've written pretty extensively on the matter as I am also a Broker who trains agents to do this! LOL

Anyway, great question, and best of luck! 

Have a Powerful Sales Day!