Picking the right realtor!

[Kimberly H.]

Ok, I 've talked to two realtors and the words "Kim, I don't think you will find that price point" or "if you are planning on purchasing in 9 months, contact me then" or "you might have to do a total gut". Am I beling realistic.

Just to clarify, I want to purchase 3-4 unit in the baltimore area for the max in the $80-140 range. I looked at the realtor.com and other site and drove around to different properties that are at that price point and they do exist. Now granted it, I might have to do a little renovation but they do exist.  Not many, but they do and some have been on the market for a while.  

Looks like I need to continue to interview agents.  I don't feel like they don't want to work hard or probably want an easy sale or a more expensive buyer.  Two realtors and I'm feeling bad about this.  Looks like I'm going to have to do all the researching and evaluating and just contact a realtor when I'm ready I guess.

Any advice is welcomed! ;) 

[Brian P.]

Your mindset at the moment is I will take up your time and knowledge and maybe someday I will pull the trigger, maybe because I really want to. Many investors have this mindset. First thing you have to learn is just to put yourself in their shoes. Agents make their money doing closed transactions. They are selling their time, knowledge, and expertise. If they just give each away they are just like the investor who agrees to a deal with no profit potential but it makes the seller happy. 

 Their time is worth money and like any professional they want to be paid for it, I have never seen the office doors stay open on any business that doesn't cover the overhead. Even charities require donations to keep going. I once had an investor tell me what's the big deal, it doesn't cost you anything and you have the chance to maybe pick up a few bucks. He was also a highly paid executive. I just said it doesn't cost you anything to go to work each day either but you still expect to collect that fat paycheck each month don't you? And you don't have to pay your share of the overhead, plus it doesn't matter if the company lost money the last quarter or the last year, your still cashing a check. How long would you stay there if the check bounced, or the company said we will give you a check when we make a suitable profit which could be never?

Remember I was an investor for ten years before I became a broker too and found to many users out there that thought my time and money belonged to them to use and keep as they wanted. So those idiots were offered a by the hour and expense basis. When they became a proven commodity then things went to a normal basis. And actually several wanted to stay on that basis because for them it was better for their bottom line.

To me my response to these investors was comparable to me as an investor passing on a shaky deal. NEXT.