Do I need an agent to represent me?

[Michael Mastantuono]

Hello,  a lot of information about running numbers on Multi family properties but when you find a listing that is obviously already represented by a broker. Should I find a local broker to represent me or deal directly with agent who has the listing?

[Andrew Valeri]

Hey Michael,

"NEED" an agent? 

No

Work with listing agent directly if you're not an agent?

I wouldn't reccomend this. They only truly represent the seller, not you.

However from my experience buying a 3 unit for my first deal - working with an experienced investor/agent who himself had 30+ doors in his portfolio was helpful. 

I bought my triplex $75k under asking. I showed him the listing as it had been Back on Market 3 times with a days on market 100+ days.  I understood we were likely looking at a motivated seller. 
My agent asked the right questions to seller agent by finding out the right pain points and then did an effective job catering to the sellers ego that I  likely wouldn't have been able to do since I was the "bad guy" coming in so far under asking. I gave them what they truly wanted which was to close and taking on their tenant issues. 

Closing got pushed back 2 months because of an issue with the title.

I could have possibly navigated the closing process alone but I wouldn't have felt confident once we reached the snag with the title. I was happy to have an experienced agent to keep me level headed to keep me focused on bigger picture. If I backed out or didn't negotiate correctly with title issue and seller backed out at that point it would have been a huge mistake.

I work a full time job - and wouldn't have been available to deal with these headaches.

In my eyes you don't not hire a professional just because you think you can do the job if everything goes right. It's good to have someone with experience who knows what they are looking at to diagnose a problem/fix it before you know its there and before more damage is done.

Overall, I would suggest yes to an agent who is also an investor at least on your first deal. My agent is now one of main my mentors.