Do real estate agents like working with investors?

[Account Closed]

So I'm currently in the process of searching for a real estate agent in the Vegas area and would like some advice on how to vet an investor friendly agent. I'm having trouble seeing the incentive for agents wanting to work with a person who will most likely submit numerous reasonable, albeit low-ball offers. Any advice? 

[Joe Facenda]

This is a great question as folks sometimes equate "investor friendly" with a willingness to submit dozens of low ball offers.   I don't.

Let's look at it logically.  There is only so much time in a week.  If an agent has the time to submit dozens of lowball offers in a week, what does that say about their business model and production level?  They obviously aren't that busy which leads a client to wonder why. A new agent without a  large client base? Perhaps that can be good because they are hungry but do you prefer experience or hunger?  No right or wrong answer but know a knowledgeable, experienced, respected agent does not have time to write a dozens of offers a week.  

To me investor friendly means they understand the market and  investors.  They can recognize good deals and see where possible deals may exist vs shooting in the dark.  Let me say a good investor friendly agent can use a sniper rifle instead of a shotgun.

The shotgun approach is for marketing, not contract writing.

When I work with rehabbers, I do not demand an exclusive buyer agency agreement.  That would be selfish of me.  I have them sign an agreement that states any property I present they will work with me on.  There is no way one agent can know all of the off market deals in an area or even have insight into all behind the scene situations of every listed seller.   I understand and expect that other agents will know more about a specific house or situation once in a while, just as I may have more insight than them another time.

Does this present a possibility that they will take advantage of me and work a deal behind my back?  Yes, but then they are not the kind of investor I want to work with.  I believe I bring value to table and, really, in any market are there more people who want to flip properties or investor friendly agents?  If someone has a business model or ethics I don't like, I will let them go and know that there are many more investors out there.

But if we have an open and honest relationship, good things happen.  I get a fair amount of deals.  Someone else gets a few deals,  But in the end,  it is a win-win all around.