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Updated almost 8 years ago on . Most recent reply
Agents reluctant to work with investors due to lengthy analasys
I know buyer buy based on emotion and investors based on numbers. I Asked a slew of questions that an uninformed investor or buyer "assuming" what the property was really worth. I got no reply.
So, what kind of agent is the right agent to ask a long list of detailed questions about the property?
I submitted this question... and wonder if it was the correct wording without "putting off" the agent.
It makes it doubly hard to analyse a property in another state or city, to far for a drive.
So what do you do? Do you have a checklist of questions to ask? I suspect the agent would only know half of what you would ask about the property as it is only there job to sell the house and not be the inspector.
Thanks
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I answer lot's of questions for my clients but they are buying 3,6,10 million commercial properties and higher.
On the lower end of residential and not commercial with sales prices I can see brokers or agents not answering 100 questions for sub 150k investor purchase properties. In that space you have to turn and sell a bunch of properties to make any substantial commission.
So there is a huge difference between spending a lot of time on one transaction for 3 or 4k versus 150k to 200k plus in commission.
Before a broker/agent answers a ton of questions they need to see the buyers financials and ask some brief questions to determine if the buyer is a flake, wants a free education without buying anything, or actually wants a long term relationship to purchase a property today and in the future.
A busy broker/agent doesn't have time for the flakes,free education types, and the serial lookers who even if you find the right property they are too scared to do anything.
A doctor,attorney etc. doesn't spend endless hours giving valuable information for services and not charge anything for it. A broker/agent should not do that either. My clients immensely respect my time and I do theirs as well. It needs to be a mutually beneficial relationship to be worthwhile.
- Joel Owens
- Podcast Guest on Show #47
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