Reasonable Expectations from an Agent

[Stephen Schoon]

I've got a question for you agents.  It's basically, what are reasonable expectations I can have of my agent?  Allow me an anecdote to specify.  I plan to move to a different city (1hr away) soon.  My approach is to purchase a fixer upper with cash, live in it while I fix it up, refi, move and rent it out (blrrr).  With this in mind, I ask my current agent if he knows any investor friendly agents in the area in which I'll be moving.  He sets me up and I have a meeting with a veteran agent who's worked with investors a lot and has done a little bit herself.  She seems sharp, organized, and still hungry.  

A few days after the meeting I give her a list of a couple houses I'd like to see, but she replies to my email and says she's on her way out of state to a cousins funeral and asks if it's ok if her colleague can show the properties in her absence.  Of course it's fine, I reply.  I then talk to this colleague who, it seems, has been given no information about me, my plans/situation, financing, etc...  and I get the distinct impression on the phone that she's not a 'substitute' agent, rather a replacement. A couple days later, Saturday, I get a dotloop doc to sign... a new exclusive buyers agreement. Whatever, I'll play along for now.

Sunday afternoon my wife and I drive the hour to see 3 properties.  The agent acts scared and says things like "I don't go into abandoned or vacant houses especially when the power is off."  We definitely needed a flashlight and she's freaking out a little, not tons, but a little.  

One of the first questions she asks us is, "so is this what yall do?"  I began to wrack my brain trying to imagine a scenario where that question is SOMEthing other than the obvious.  She had no idea what/why we were looking at these houses.  Throughout the first house she was asking us all kinds of questions too.  I can't for the life of me remember exactly what they all were, but they blew my mind.  In my opinion, no one calling themselves a real estate agent should be asking me 'whats that?' when the answer is 'mold.' 

After the showings (and throughout) she was definitely under the impression that she was our for-reals agent.  

I'm a new investor, I get that. And I can even understand not giving me your best agent because I've got no track record and statistically I will waste yours time for weeks/months then just disappear, never to be heard from again.  But what is this bait/switch hand off thing? Is this common practice?  Am I a jerk or something? oh, and please note: The last agent I had did the exact same thing. I had coffee planned with him, but he had to reschedule and sent a colleague in his place, and the colleague is who I got stuck with. 

I'm not very experienced in the REI field, but I have done quite a few things around the house over the years and I'm not stupid. I can hold my own in a REI conversation, I've listened to all the BP podcasts, I've attended many local meet-ups, and 2 of my 3 'best' friends are active investors. I can accept being given a new agent since I'm a new investor, but should I have to drag her along? What I want and need is an agent who knows more than me and is more experienced than me. Not necessarily a 40 yr veteran/expert, but someone who's at least been in the game for a little while. I need an agent who, when she says she'll get me comps tonight (on sunday) actually DOES that (it's tues eve and I still don't have them).

So I ask you agents, what are reasonable expectations in this scenario?  what advice do you have for me?

Thanks!

[Mindy Jensen]

@Stephen Schoon , I'm an agent. I think your first call should be to the original agent you were sent to. Tell her about the new agency agreement you've been asked to sign, and ask her what's going on.

If she's trying to pass you off onto someone else without having the decency to tell you, that's shady and I wouldn't use her. But that doesn't mean you're obligated to use the agent she passed you off to.

Yes, many other agents will come to this thread and say that they don't want to waste their time with a newbie. That's their right and their choice, but there are agents out there who know what they're talking about and will help you out.

What is your price range vs how hot is the market? It's not reasonable to expect someone to make multiple ridiculously low offers in a hot market that have no chance of being accepted. 

Do you have funds to close? Do you have a down payment ready to deploy? Being able to prove to agents that you're serious will take you a lot further.

Visit our Marketplace and search for real estate agents in the city you're looking in. There are a lot of agents on our site.

Moderator note: If you're an agent in this area, DO NOT advertise yourself in this thread, your post will be removed.