All Forum Posts by: Brandon Vukelich

Hey @Adam Reed, your investor friendly agent/broker (not necessarily a "Realtor") should be more of a consultant or advisor than a salesperson.  Here is what I suggest you ask:

1. How long have they been a full time, licensed agent and are they an investor themselves?  

2. If they invest, do they actually own (or have owned) the asset type you're looking to acquire? Do they specialize in what you want to buy/sell?

3. Ask them about their process of working together, expectations, etc.  Will they assist you from deal analysis through closing...and beyond as needed?  

4. Which areas/towns/cities do they mainly service and know well?

As @Eliott Elias stated, I would be interviewing you as well.  I need to vet new clients to ensure they are not perpetual tire-kickers and get a baseline understanding of their current situation/goals.  I start with a 15 min intro call.  Step 2 is my 30-60 mins Investor Consultation.  You should evaluate how thorough they interview you as well.  If not so much, that may show a sign of desperation for new clients.  You never want to work with an agent that is desperate for their next commission check.

That's just some basic feedback for you.  I'm happy to share more if you send me a DM.  Best wishes on your real estate journey!

Yes! I clearly state right off the bat, "I'm an investor but in total transparency, I am also licensed real estate broker."  I would do it even if our state did not require it at any point as well. 

Hi @John D. Brown, I've been watching Tulsa for about 3 years now. I have visited the city and personally met with two PMs out there. Happy to share their info if you send me a DM. If you're open to investing locally in the Puget Sound region, we should connect as well. Best wishes on your REI journey!

It depends on what you ultimately trying to accomplish. Saving on commissions, having access to your local MLS, do you wish to collaborate with other agents in an office, planning to make a FT career out of it, etc. It isn't free to obtain and maintain a license so you'll need to weigh in the costs are worth your intended benefit. By no means would I say it is an "essential" tool to your personal RE investing. If you don't plan to list your own deals or want to get into the game to earn commission income, I would recommend sticking to growing as an investor and partner with real estate agent pros that can serve you doing what they do best. Hope that helps a bit. Best wishes on your real estate journey!

@Travis Reed it says in your title that you are a real estate agent yourself. Are you surfing Zillow in other markets?  Depending on what you're looking for, local wholesalers may be able to send deals your way.  Do you not see the value in having a solid agent on your team to locate, negotiate and close deals?  

Either way, sounds like you're speaking from the investor side. I'd be curious if you have a standard offer process for listings 30+ DOM. There are deals to be found that hit the market day one and stale listings may be sitting for a good reason, research into the scenario is key before throwing out verbal offers.  Which (BTW) don't mean a whole lot to me personally on my listings.  I've had so many verbals shot my way. I tell them to go ahead and write it up but then most buyers never actually submit anything, in writing.

Also, unless you sign and accept a dual agency agreement, that listing agent is going to be solely representing the best interests of the seller.  Not sure how many deals you've done so I'm not questioning your experience.  If you're relatively new, a veteran listing agent can usually navigate a deal that favors a seller when dealing with an unrepresented and inexperienced buyer.

Historically, agents have done a poor job conveying our value to buyers and sellers.  When someone questions whether to have an agent assist or not, it is common to underestimate the value working with an experienced agent/broker.  My last four transactions saved my buyers (new investors), anywhere between $30-50k per deal in the $475k-600k range, plus navigated them through inspections, appraisals, existing tenants, etc.  If you're a well seasoned investor, then I would say you have a chance of handing a deal better than bringing in a novice agent to assist.  I can also appreciate that not all investors/buyers truly need just any average agent on their side of the negotiating table.  Many agents can kill deals as well but my clients depend on me to help them find deals, analyze deals, negotiate favorable terms, navigate challenges and get them to closing.

@Ethan Wilson more details would be very helpful.  We don't expect you to share the address but what do the current numbers look like, what are the seller terms, etc.  I don't know if you're looking for $100k or $1MM.  Please send a DM with more details.  

In WA state we start as "brokers" then after 2 years (MIN) along with more continuing ed and another exam can obtain a Managing Broker's license.  After that we can obtain a designation to manage one or more real estate firms as the Designated Broker.  That's me.

I think we (agents/brokers) are better off trying to clear the confusion between agent/broker and Realtor.  Not every agent/broker is a Realtor but every Realtor is either an agent/broker/salesperson/etc that pays their dues for the "R."  Being called a "Realtor" is more frustrating than the agent/broker confusion, IMO.

 

Sorry to hear that @Suraj Guptha.  Don't mess around or delay, contact a RE attorney like Brian Hanis in Kent,  Landlord Tenant Services in Seattle or Dimension Law in Tukwila.  I'm curious, are you self-managing the property?  If so, are you a member of RHAWA?  If not, I highly recommend you join it, otherwise it is best these days in WA to use a professional PM.  Especially if you are a novice landlord in the area. I hope you're able to minimize your losses and resolve it quickly.

Congrats on passing the exam @Hillary Fox!  I'm curious, why at this time, are you considering leaving the nursing field for a career in real estate?  What is it that attracted you to making it a full time career change?  Appreciate the insight as I have a draft completed on my book for new agents and we're going through updates/additions.

@Jason Brown I'm not sure why anyone (that's not an attorney) would draft their own contracts.  Any real estate attorney in your state should already have a contract to provide you or customize something for you for a few hundred bucks or so.  Keep in mind you are transacting in real estate and that comes with A LOT of liability.  As others mentioned, you may also try connecting with a licensed real estate agent in your area and they may be able to assist with a pre-printed document available.