Frustration with Agents? How to find a good one?

Question

Would welcome any advice on finding a good agent. I have been looking for a small multifamily for about 3 week to a month. The first agent, recommended by the VA, didn't even call me back. The second has shown me one property I have requested to see in the last 3 weeks. Does not send me any homes tor multifamily listings that I might be interested in. I send properties I find. I had to reach out after a week and say just wanted to let you know I am still interested in the properties I sent over to you. It's been 5 days and just got a response that I can see a couple of them middle of next week because the agent have family in town.

I connected with another non VA agent and sent 5 duplexes I wanted to see. It took a week for them to send me disclosures and asked which ones I wanted to see. 3 of them are now under contract.

Am I just impatient or should they be working a little faster since properties like this are going g fast and there aren't that many to begin with.

I connected with another non VA agent and sent 5 duplexes I wanted to see. It took a week for them to send me disclosures and asked which ones I wanted to see. 3 of them are now under contract.

Am I just impatient or should they be working a little faster since properties like this are going g fast and there aren't that many to begin with.

Michael Ablan · Answer

@Victor Wasson -  Go to local REIA meetings and talk to other investors.  Ask them who they use to buy their deals.

From a Brokers perspective, I'm not giving a real estate investor much of my time unless they prove to me that they have the ability to close, and they WILL make reasonable offers on properties if they fit their criteria.  So many "investors" will take an agent through 10 houses (filled with tenants) and either never pull the trigger, or offer some ridiculous low-ball offer that does nothing but piss off everyone involved in the interaction.  I don't waste my time anymore

Caleb Heimsoth · Answer

@Victor Wasson have you considered using non VA recommended agents? You’d probably have better luck

Victor Wasson · Answer

Thank you all for the great advice. Glad to have BP in my corner as new investor.

Brad Bellstedt · Answer

You are correct that there aren't a whole lot of agents who know what they are doing when it comes to investment properties. In general there are a lot of awful agents out there to work with but not all agents are created equally. There are plenty of good ones too. What market are you looking into? I know of a handful of agents that work well with investors. Another option would be to "Network" button above in the banner menu. You can find members near you for general networking and they also have a real estate agent specific search under that drop down menu as well.

Marian Huish · Answer

Has your agent prequalified you as a buyer? i.e., Have you provided proof of funding before they leave their family over the holidays to run a buyer around thats not really serious?  Please keep in mind that agents often have buyers wanting them to drop everything to show them properties but aren’t willing to take the time to meet with the agent, discuss their needs, sign a buyers agency agreement, etc.  A good agent will jump through hoops to find good properties for their investors but a lot of so-called investors aren’t quite legit.  Just as there are many bad agents, there are also bad investors out there!  It sounds like you’re fairly new and have only just begun looking at properties…  regardless, the agents you’re dealing with should have been more responsive. Also, bear in mind that tenant-occupied properties can be challenging and listing agents often don’t want to disturb tenants unnecessarily which is why the reason for !check out the main property and then let me know if we need to disturb the tenants’. As a listing agent, you don’t want to  unnecessarily upset tenants who can quickly refuse showings!  Many people like to run Agents around and don’t value their time.  I work with a number of investors, actually quite prefer it, however it often takes time to build a relationship of trust that work both ways.  There’s plenty of good advice above as to where to find a good agent and I’m happy to refer a good agent to you if you specify what/where you’re looking.  Best of luck @Victor Wasson!

Corby Goade · Answer

Sounds like your screening has worked so far- if they don't call you back in a reasonable time frame, they're not a good agent. Every agent you actually talk to will tell you they "specialize" in whatever you are looking for. Everyone is an investment expert. Ask them a few simple questions; "what do you think about the BRRRR strategy?" or "how would you help me if I were to find an off-market property that I am interested in?" If they don't have a quick, concise answer for you, move on to the next.

Good investment agents are out there, but you'll have to work to find them.

Virginia Marphis · Answer

What area area you looking?  I work northern nevada, and have partners out in all areas of the country who are investor friendly. I'm inclined to recommend a change.... or, at least, expressing your concerns to your agent, if you haven't already.

Sam T. · Answer

First thing you should look for in my opinion is whether they take longer than a day to ever return a message/call. Any longer than that (unless they have a seriously good excuse) is just disrespectful and sends a very clear message that they're not interested in your business.

Also I'd be weary of using an agent (for your investing anyway) who doesn't invest in real estate him/herself.

Bryan S. · Answer

@Victor Wasson sounds like you need to talk to the agent and give them your expectations. I think this is your fault, especially if you haven’t had a meeting or call to give your expectations. Each client has different needs and to expect a realtor to know your exact needs is unrealistic.

I recommend you go read “Extreme Ownership” by Jocko Willink and Leif Babin.

Charles Kao · Answer

@Victor Wasson Try the local

Facebook group and see who is providing good advice to others.  Watch from a

distance who is providing value.

Frustration with Agents? How to find a good one?

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