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Updated over 3 years ago,
Should I fire my agent?
I am currently looking for my first buy and hold investment property, though so far I've only toured three properties. When my husband and I decided to buy an asset, I got in touch with the real estate agents who acted as our buyers agent over five years ago in the purchase of our current residence.
My first contact with him was about a particular property, and he basically dismissed it because he said I'd need to pay cash. I told him I had cash and access to private money, so we set up an appointment to view the property. It went under contract the afternoon we were set to see it.
There were two HUD houses that I asked about, and he met me to show me. He has investment property and has worked with other investors, but I seem to know through my Zillow searches/GIS reviews than he does. When I ask about comps for sale or rental, he just says he doesn't know those neighborhoods particularly well (one is adjacent to where he lives).
I've told him two weeks ago to send along anything he thinks has potential, and other than his generic foreclosure list (that he mass sends), he hasn't sent a single property for my review.
I came across another listing that was within my price range in a decent area, and went to drive by before reaching out to him, and I see it's HIS LISTING. I text him to ask about seeing it yesterday morning, and he said the owner needed 24 hour notice, which I said I understand so let me know what works. 36 hours later, and no word.
I am a younger female (though he's around my age), so I'm not sure if he just isn't taking me seriously, or if he's taking most of the deals he sees or referring to other investors. I do feel a sense of loyalty to him because he showed us over 20 properties and was a great agent when we bought our primary residence, though our budget for it was about 3x our investment property.
He's shown me two properties (that I've researched and requested, but ended up with deal breaking issues- SHFA and asbestos/mold/foundation issues), but I've not signed any agreements with him.
Do I have an obligation to buy with him? Should I cut him loose? And if so, do I need to do that formally or just start looking for someone else? It doesn't appear that he'd mind losing my business...