Is this normal? Newbie question?

Question

Hi everyone! I have been working hard to find a good agent, but I haven't had any luck so far. I met with a woman who is an agent with Keller Williams. My fiancé and I met with her, but I ultimately decided to pass on signing an exclusivity agreement with her. The main issue was that she told us during our meeting that each month she puts a home under contract. Once she has done this she pushes her clients to make a deal on this home (rather than focusing on finding the deals that interest us.) I got the feeling she is an agent moonlighting as a wholesaler. This is all fine and dandy, but when I asked her about negotiating on the price she told me there wouldn't be much that could be done because the seller still has a mortgage on the property. Does this sound right? I wasn't interested in this property, but I am curious to know if anyone else has ever had a similar experience.

The other red flag for me was that during our initial meeting she brought her fiancé (who is NOT an agent, but he is a contractor) to the meeting. I felt as though this was a bit weird since it was our first meeting and we hadn't yet decided to even use her. Furthermore, the meeting was a bit weird as we didn't want to offend him, but honestly had no intention of using him (as we are building our own team),

What are your thoughts on this encounter?

The other red flag for me was that during our initial meeting she brought her fiancé (who is NOT an agent, but he is a contractor) to the meeting. I felt as though this was a bit weird since it was our first meeting and we hadn't yet decided to even use her. Furthermore, the meeting was a bit weird as we didn't want to offend him, but honestly had no intention of using him (as we are building our own team),

What are your thoughts on this encounter?

Kevin Hunter · Answer

@Whitney Payton, exclusivity agreements are a sign in and of themselves. My opinion is an agent has to earn your business. That clearly has not happened. Move on!

Brent Coombs · Answer

@Whitney Payton, yep, you clearly did the right thing by passing. And yep, I reckon you're right about her moonlighting activities. For investing purposes, I see no reason whatsoever why you (or anyone) should consider using any Agent exclusively!

Think about it. Will they consider bringing ALL their deals to YOU first, exclusively?

Never going to happen. [If anyone knows otherwise, I'll probably still be incredulous].

If your buying credentials are obvious, ANY Agent should put you on their Buyers List.

But why do you even NEED just one Agent? Conversely, why SHOULD they treat you as special?

It's about give and take. Is what you're OFFERING equivalent to what you're EXPECTING? My 2c...

Rob Witt · Answer

Depends, unless the husband was selling himself on being YOUR contractor he may be there to support his wife and convenience factor. Trust your gut. If she wasnt willing to go on a "test drive" with you, it may not of been the best fit. Good luck

Brent Coombs · Answer

Jesse, does that mean you only use that Agent to BUY your properties through too? My guess: No!

(Remember, it's a BUYING-exclusively arrangement the OP was considering)...

Michael Williams · Answer

Welcome to BP Whitney. This is going to be very short. ALWAYS go with your gut. Move on...there are plenty of investor friendly agents here in Atlanta. My wife is becoming an agent now and I will definitely mold her to be investor friendly.....especially to me. Good Luck.

Juan Jackson · Answer

Thanks for the shout-out @Patrick Anibald ! I actually commented in another post a few weeks back. I think she is on the right path posting her questions here and getting valuable feedback!

https://www.biggerpockets.com/forums/311/topics/38...

Ned Carey · Answer

@Whitney Payton I would not sign an exclusivity agreement with an agent. I might actually make a wise crack about "does this mean you won't work with any other investors but me?"

It shouldn't surprise you that you are having trouble finding an agent. Most agents simply do not know what makes a good investment deal. Their expertise is selling pretty homes to homeowners. See if you can find the agents that have already sold some properties to flippers. Many REO agents do a lot of investment properties.

That is about the most stupid thing a person in sales could say. It is hard to believe someone who can pass the real estate exam could be that clueless about selling.

Is this normal? Newbie question?

Is this normal? Newbie question?

Most Popular Reply

12 Replies