Is it necessary to involve a real estate agent when inquiring about deals?

Question

Do I need to use a real estate agent besides the listing agent for inquiring deals? I feel like I am an annoyance and that it’s just a waste of time calling a real estate agent to have them call on a deal when I can just call the listing agent directly. Personally, I just feel like its easier and wastes less time going directly to the source and calling the listing agent. Is there a reason why I should be funneling all my inquires and questions through an agent that’s not listing the property? Is there a reason to be loyal to one real estate agent?

Thanks!

Branden

Thanks!

Branden

Eliott Elias · Answer

A good realtor will be on top of all your requests. No, you do not need a realtor to purchase real estate, it is a good idea to have one.

Steve K. · Answer

Some people even recommend it as a strategy to get a lower offer accepted, but using the listing agent like that is like using your wife's attorney in a divorce. Every part of the contract and buying process either benefits the seller or the buyer. How do you think the listing agent will treat you as the buyer, when they have a fiduciary duty already to the seller? A good listing agent knows a dozen ways to screw an average unrepresented buyer if they want to, without the buyer ever even knowing it. A good buyer's agent is the most important part of your acquisition team.

Ned Carey · Answer

@Branden Wintermyer As an experienced investor I would go directly to the listing agent. But many investor buyers are better off with an agent looking for you. if you are flipping properties, then the agent that finds the deal should be the agent that gets the listing to resell. That can build a loyal agent who feeds you deals. if you are just looking to wholesale deals, in today’s market it may be a waste of time looking at listed deals.

Nathan McBride · Answer

If the property is listed, I don't really understand the reasoning for not using a buyer's agent.  Their commission is covered by the seller, and a good agent will bring benefits to the table that will protect you from liability and ease the transaction process by leveraging their personal network.

If the property is not listed, it depends on your relationship with your agent.

Personally, I would be open to calling on unlisted properties for clients in certain circumstances, but we would need to work out commissions, etc. ahead of time in the event a seller is unwilling.  I'm basically calling owners anyway for my personal portfolio and as an agent to generate listing activity.

Ethan Gidcumb · Answer

I would recommend finding your own agent, not the listing agent,  because then you have somebody dedicated to finding the right property for you and they may have insight on Off-market deals as well.

Branden Wintermyer · Answer

@Bill Schrimpf

Thanks for the information! I appreciate it!

Bill Schrimpf · Answer

@Branden Wintermyer - What your really asking about is something called dual agency.  The idea that you dont know that, tells me that you should use a buyers agent, dont call the listing agent.

Some states prohibit dual agency by law, and many brokers prohibit it by office policy because it's considered by many to be unethical, or potentially opens up lots of liability and conflict of interest concerns.  On the flip side, others argue it can be done correctly and ethically.

Here is a decent article from Nerd Wallet...  Dual Agency

Trevor Richardson · Answer

You should use Chat GPT to respond to answers, it saves a ton of time.

Branden Wintermyer · Answer

@Steve K.

Your emphasis on the role of a buyer's agent as a vital member of the acquisition team is valid. Having a dedicated buyer's agent ensures that someone is actively working to protect my interests throughout the contract and buying process. Their expertise and knowledge can help me navigate potential pitfalls and provide valuable insights to secure the best possible outcome.

Thank you for shedding light on the significance of having a buyer's agent in real estate transactions. Your post has prompted me to prioritize finding a dedicated agent to assist me in future acquisitions.

Thanks!

Branden

Is it necessary to involve a real estate agent when inquiring about deals?

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