How do I find a real estate agent to work with?

Question

John Warren · Answer

@Naeem Kinard agents will definitely work with you. I work almost exclusively with investors, and I love the relationships I am able to build with investor clients here in the Chicago suburbs. Many of my investors were "newbies" but then have been able to rapidly build a portfolio. If I were you, I would look on BP but also at my local REIA meetups. Most meetups have a group of regular attenders who are great sources of information.

You didn't mention in your post, but what type of investing are you looking to do?

Matt K. · Answer

Find the lender that is a Rockstar, then ask them who's closing deals. People that get things done, they know others that are like them.... it's about finding the right one. It's much easier to talk to a banker... then find the realtor. It's also important that your money and realtor get along... nothing like losing a deal in the final hours as your loan falls apart.

Jay Hinrichs · Answer

by referral..   Keep in mind the top agents that get the deals have their buyers list just like the wholesalers have their buyers list.. these buyers are fully vetted and the agents know they can perform.

One issue many agents have and when I had my brokerages I had to caution my agents.. is you have a ton of tire kickers who are all Hat and no cattle.. so you have to break through that by proving you can do business.  other wise they are going to go with the builders and flippers they know perform..

if your just buying for rental purposes that's a little different of course..

Jay Hinrichs · Answer

Hey doug I buy 90% of my inventory through agents or public auction sites that pay commissions..  there are great OREO agents who get bank listings.. you get on their team and you can Fuggedabout wholesalers.. you get for real deals that close  LOL..

there seems to be some confusion that there are no agents that work in the distressed asset niche there are plenty you have to find them. and you are not going to wiggle your way into their good graces unless you have money and can close.

Just like you guys talk about a great wholesaler just have to find a great agent who knows  his or her  craft.

most of the guys I fund here in Portland get their stuff right off of MLS..

Doug Pretorius · Answer

Agents will only work with investors who buy conventionally at full market value. If you plan on buying below market, doing assignments, or doing any kind of creative financing, fuggedaboutit.

Fernando Angelucci · Answer

Agents with an abundance mindset love investors because of the potential volume over a lifetime. Be careful of the scarcity mindset agents who will ask for a monthly retainer to work with investors, "because writing a lot of low ball offers is time consuming with a small acceptance rate." This was an actual response I received.

Mike Cumbie · Answer

@Nathaniel M Cooper

An agent will run comps for a Wholesaler on a pretty regular basis for leads. A wholesaler finds more "Um thanks, but I want close to retail" sellers that they can do nothing with. Send them to your agent and they will get an MLS listing. Once a couple of those are flowing then comps will be done with an easy turn around time. Don't let it get to where one side feels abused because then the partnership ends. But as long as the wholesaler is getting comps when they need them (Not 20 a week) and the agent is getting some leads here and there it will be a friendly relationship.

Benjamin Bungartz · Answer

@Jay Hinrichs   I realize there may be a conflict of interest here, but... I've met with a few local agents here in Portland and one, in particular, seems to have the right team, mindset, and knowledge to help create and accelerate the growth of a portfolio.  Aside from attending the next RareBird Meetup and reading the many third-party reviews (99% positive), is there another way/resource to vet agents in general?  And in Portland specifically?

Bahiyyah Parks · Answer

I, too, wondered why an agent would work with a wholesaler to pull comps, etc. Then I learned of a few agents that help wholesalers because the agent had many cash investors that are looking for unlisted, distressed houses. The agent helps the wholesaler pull comps and even figure the rehab costs and shops the property to his/her end buyers. It's a win/win.

Wes Short · Answer

I think there are definitely agents out there that work with investors because they understand that though there is extra work, aka more offers and more showings, the investor will most likely lead to more commissions than a regular buyer who only buys once every 5-10 years. It can be tough to find these agents but a great place to start looking is a REIA meetup. I've been to my local one only about 2 or 3 times so far but it is amazing the knowledge and impact it can have.

How do I find a real estate agent to work with?

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