Competing with my agent?!

[Todd Solberg]

I have a signed contract with an agent to look for an investment property. My agent is also a successful investor and am attempting to follow a similar path. My agent is helpful in describing Reno costs, etc. That said, my agent sent me a property and I replied within 24 hours of an interest in viewing it, turns out my agent placed an offer already. I'm concerned that my agent and I are competing for the same properties. Is this bizzare?

[Jonathan Bombaci]

It does seem a bit odd. I am an agent and investor myself but would never compete against any of my clients. In fact I actively avoid even the perception of potentially competing by buying in states that I’m not licensed as an agent in. 

It sounds like you haven’t seen the property yet but I guess the question is would you buy the property for the same price / deal your agent is buying it for? If yes, and I were you, I’d ask the agent if they’d sign the contract over to you. I’d think they would be happy to take the commission and relist the property after the Reno for you if your plan is to flip it. But obviously if you don’t want the deal then just ask to be a part of the process so you can learn first hand how they do their business. You’d be able get that first hand experience on their dime.