All Forum Posts by: Account Closed

Trial and error. Send a "hey newbies!" card or poster to every local real estate brokerage firm in the areas you want to invest. Tell them EXACTLY what you are looking for: price range, beds, baths, square footage, days on market, school districts, etc. Let them know that you WILL make an offer if the property they present meets all your criteria. Again, 9 out of 10 will just set a list to spam you with everything that hits the MLS. You can delete/block those. The guy/gal who CALLS/TEXTS you with, "Hey @Jozelle B, I just found this deal on 123 Anywhere Ave for this price and it's exactly what you said you wanted...." THAT'S your agent! Then you have to do your part and write that offer same day...get them paid. Earn their loyalty. It's what you'd want someone to do for you if positions were reversed, yes?

I agree with @Antoine Martel The first Realtor sounds like they are doing a decent job, especially with this being your first time working with this person and they don't know exactly what you like and don't like yet.  The other Realtor seems a bit more questionable, but on occasion especially with multifamily properties coordinating with tenants for interior inspections before the seller has an accepted offer can be difficult.

Around my area, there are two kinds of "quality" Realtors: the first kind are big boys/gals who have been doing this for 10+ years and are selling houses to owner occupant, high-income buyers with a price tag north of $250,000, and the second kind are the ones you want: the highly moviated, savvy newbie agent out to make a name for himself/herself and will work themselves to the bone to get some deals flowing.

You don't want the first kind and they don't want you. Why should they scramble combing thru the MLS for you to earn a 3% commission on a $35K house that you'll try to negotiate down to $20K (or you will try that if you are me!). It's not worth their time showing you 20-30 houses for a $600 paycheck that their broker takes 25% of and then the tax man takes another 15%. Most real estate agents get into the game so they can start listing top dollar homes and hire a "team".

So you need the ones who haven't earned the credibility yet to where people are flocking to their door to list stuff.  For every 10 agents, all but 1 will be out of the game in 2 years.  You need to the find that one who has the motivation and the street smarts to make their name.  It's trial and error, for sure, and unfortunately once they hit it big time you may drop off their list because they'll only be interested in the high dollar homes/commissions.  That said, there are 2-3 agents in my town that seem to specialize in cheap houses or foreclosures.  Problem is most folks already know who they are so you are competing with 20 or so other investors.  You need to find the next newbie agent who will join the ranks of the "investor" Realtors and be the 1st or 2nd person to get on their buyers list, then when they send you a deal you write an offer the same day.  Get them paid 4-5 times in a few months and they'll attach to you.  Starving, motivated agents will work for you!

I think that the first realtor you mentioned is good. The second one, not so much.

While you may think you're spending time finding these deals and running the numbers on them. That is normal, you are the investor and you should be finding the deals and then sharing them with your agent to review them further. 

You said they were responsive which is great. You need that

Also, sometimes it takes the realtor and you to do a couple deals together and then things start moving in a better direction.