YIKES, MY REALTOR IS GUN SHY

[Courtney Rollins]

I am a newbie to the real estate investing world.  I am working with a young realtor that I like due to his integrity and seeming drive and hunger. I also felt that he understood my goals for real estate investing (buy and hold single-family homes in transitional neighborhoods in Baltimore). However, we haven’t been on the same page the last few days. Yesterday, he expressed his hesitancy to put multiple offers out at the same time! One home I wanted to jumped yesterday was placed under contract while he hesitated. I like the guy and his drive, but I think I will need to move on to someone who understands the need for urgency.

[Joe Norman]

If you had multiple offers out and they are all accepted then are you able to close on them? If so then your agent can ethically write and submit multiple offers, if not then your agent is doing the right thing by his client (you) and the consumer (the general public) by not writing these. The problem is in that if your EMD would be at risk if you put a property under contract that you were not prepared to close on (not to mention the ethical issues of doing so).

Great question!  I suggest talking through this with your agent so that you are both on the same page.