How not to annoy the real estate agent

[Phillip Vaughan]

OK, question: using the BRRR method and playing the numbers game by analyzing a lot of deals I would then put in a lot of offers, until I find someone that will take my offer. But I obviously dont want to visit all of those homes with my agent because most of those sellers arent going to except a low ball offer. So I just want to confirm that it is normal practice to put in a lot of offers, sight-unseen. I assume that if an offer is excepted, you would then go to view the property and assess the rehab costs. Also, would you view that property before or after you sign the offer? And if you finally visit the property and find that it needs more rehab than you are willing to take on, I assume you can exit the contract?

I know I am mixing a lot of questions in there. I just need to be walked through the actual steps I would take when throwing out a lot of low offers on distressed properties.

[Abel Curiel]

Hey Phillip,

As long as you're pre-approved and can be considered a serious buyer, I don't see why the agent would have an issue putting in multiple offers (especially if its sight unseen- HUGE time saver). 

The way it usually works (as per my experience) is that once an offer is accepted, we move onto the inspection which then determines whether or not we will go forward with a contract. In the offer, I usually add a contingency based on financing, inspection and appraisal. This protects the buyer's EMD in the event that they want to back out of the agreement. However, if you're in a competitive market, sellers prefer offers with less contingencies.

That being said, if you feel like you might be backing out of a lot of these offers, I would say visit the property or at least drive by before submitting offers. Agents only get paid at closing and if you want to keep a good agent on your team, you should value their time.

Best of luck to you!

-Abel