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Updated over 15 years ago on . Most recent reply

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Bienes Raices
  • Orlando, FL
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Use buyers agent, or make offer directly with listing agent

Bienes Raices
  • Orlando, FL
Posted

Do people use a buyer's agent to find REOs? I can see the use of having MLS access for comps, but, since REOs are a #s game, what's the incentive for a buyer's agent to make 30 or 40 offers for you to get a 3% commission on, say a $40,000 house? Would it be better to skip the buyer's agent and deal directly with the REO's listing agent?

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Will Barnard
  • Developer
  • Santa Clarita, CA
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Will Barnard
  • Developer
  • Santa Clarita, CA
ModeratorReplied

Other than the unresponsive/unprofessional agents out there, I totally disagree. Using a buyer's agent to get great deals on REO's is like using an oven to store your ice cream (it just doesn't work). I am not saying you can not ever get one, but what I am saying is going direct to the listing broker/agent is a much better avenue.

Here it is in black and white, will a listing agent pay more attention to an investor coming in with an offer for the agent to double dip commissions, possibly tripple dip, or one who comes in with a buyers agent where their max is 3%?
The truth is, the top REO agents are looking for the top RE investors with all cash who can come in and give them double dip opps along with repeat business. Money talks! (and this all comes from actual real life experiences and not hypotheticals or assumptions)

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