Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 18 years ago on . Most recent reply

User Stats

47
Posts
0
Votes
Mike Smith
  • Real Estate Investor
  • St. Louis, MO
0
Votes |
47
Posts

Need some advice re involving real estate agent in deal

Mike Smith
  • Real Estate Investor
  • St. Louis, MO
Posted

I have found a property I am interested in purchasing. It is agent owned and is a SFR with a tenant in place. Based on the numbers I'm using, it should cash flow immediately. If it matters, this will be my first investment property. My questions:

1. Should I involved a real estate agent of my own and why?

2. What is the downside of not invovling an agent?

Some initial thoughts I had are:

An agent could help familiarize me with the going rental rates in the area as well as past and future appreciation. I'm being told the current rental rates are below market and, based upon my investigation so far, that appears to be correct. While I'm somewhat familiar with the area, I live in a relatively large metropolitan area and this isn't my usual stomping ground.

An agent may know of future development/zoning/etc. issues of which I'm unaware.

If I get an agent inolved, that will take money out of the pocket of the seller, which may not allow me to get as much of a reduction off the asking price, true?

I know there have been several posts re real estate agents and I'm not looking for a big, heated debate, just the board's thoughts on the pros and cons. Thanks in advance for the replies.

Loading replies...