Edmonds, WA · Member since 2019 · 5 posts · 2 votes
I am working on my plan for building a network of people who can refer deals to me. I hear time and again that it's good to have agents on your "team" and that makes sense if they're buying or selling for me, but what if I'm BRRRRing? If I understand the process correctly, I'm buying properties with cash (no agent) and then later holding the property (no agent). Am I missing something? What is in it for the agent to refer deals to me - should I offer/pay them a bonus of some kind? If so, is there a standard amount? Thanks in advance for any feedback or advice!
Yes, you are missing something- buying with cash doesn't mean without an agent.
About 70-80% of what we've bought with cash has been ON MARKET stuff (listed through MLS, sign in front yard) through an agent.
If you buy say at auction, through a wholesaler, etc, there are ways to buy with cash without an agent. However, my philosophy is that if as an investor if you don't look at the whole pie of what's out there then you'll likely miss out on something.
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
7y
An agent isn’t going to refer a property to you unless he is making a commission on it.....that’s how they make their living. Also, as an unproven buyer, they’ll be referring those properties to others first.