Buying without an agent

[Rodney Lorenzo]

Despite me having a good agent, I still have not been able to invest in anything in this market. The main factor, unfortunately, has been listing agents that don't communicate, aren't transparent or flat out ignore my offers or requests to get financials. Sometimes, I have to reach out to listing agents directly because I notice that they respond quicker to me than to my agent. They think I'm not represented. My question would be then: should I just approach the listing agents directly for representation? Many tell me that the listing agents don't have any incentive to represent me. The fact that they don't need to split their commission is an incentive enough, right? One even told me over the phone that they don't need other agents to sell their properties. He was nice to a certain point, but when he noticed I was already represented, he all of a sudden wasn't so nice. I may have to wait 5 years for the next buyer's market if this keeps up and the rising mortgage rates aren't helping either. I wanted to start my investing career in my 50's. Now it seems it may get pushed to my 60's instead. 

[Patricia Steiner]

I applaud you for having the courage to share that you're really bad at hiring real estate professionals.  Where are you finding these people?  Have you set yourself up with them as a serious and ready buyer?  Before you start doing anything with a realtor - or anyone - define expectations.  If you have a realtor who doesn't call you back, you don't have a realtor.  If you're calling the listing agent directly, that agent now knows that you have no representation and are "home alone." They have no incentive for representing you.  Most commercial agents' commissions are paid by their own clients - unlike residential (but not always).  Splitting/not splitting commissions?  Really?  I don't accept clients who are looking to be transactional so why are you.  Prove that you're in this game as a long time player and bring everything upfront to the table to include proof of funds to close and preapproval letter.  Set yourself up as a serious investor and find yourself someone who has a track record of closing deals (just look to see who represented buyers on recent commercial deals in your area...not rocket science).  And, please know that the most frustrating part of my job is often times dealing with other realtors/Brokers - but I don't choose them; I get stuck with them and I make it work.  Make it work for you by selecting someone who brings bench strength - and makes you a stronger player.