Quote from @Manny Vasquez:
@Rodney Lorenzo I would totally recommend that you work with a Realtor...all the time. If the Listing Agent is not calling you back, not answering your text messages or emails and if he/she is not providing you with the financials you need to determine whether or not to purchase a property, how good of a job do you think he/she will do for you once you're in escrow???? During the escrow process is when you need the best representation for many reasons (i.e. turning in paperwork on time, contingencies, inspections, etc.) If you miss a "big ticket item" because you didn't know what you were doing or the listing agent was trying to hurry up and close the deal, could cost you thousands. Another thing to consider, the Listing Agent was hired by the Seller, who do you think they will have a primary fiduciary duty to fulfill?
Don't worry, the market has now changed (or will change very, very soon) to a buyer's market. Listing agents will have to work a little harder to sell their properties. Part of the reason that Listing Agents were being so lazy these past 24 months was because it was a Seller's market. Anything and everything was selling in a very short while. All you had to do was list the property on the MLS and everyone in the world was anxiously waiting for new properties to hit the market. After the LA got the listing, they had little incentive to do much work since the property as going to sell quickly anyway. Or, if their respective state allowed for dual representation, the LA could "cherry pick" who they wanted to work with. If they could "double end" the deal, then that's who they would work with. I also totally agree with @Russell Brazil advice.
So.....keep working with your Realtor. The market has changed and soon you will have the answers you are looking for. He will be looking out for your best interests.
Hi Manny, I appreciate the advice. I have worked with many realtors and most have been lazy and incompetent and this is CT, I'm talking about. This is why I approached an "investor friendly" agent on Biggerpockets in December, only for him to arrogantly pass me on to a less experienced agent in his firm. Didn't know that an investor's lack of experience had to match the agents. Like you said, how good do I think the LA will be in escrow if he's not returning emails. This is precisely why I need to approach the seller's agent. In CT, we have attorney's also, which have to draft up contracts, so he'll be aware of all contingencies and deadlines, after all that's what I'm paying him for. If I miss a "big ticket" item, it'll be my fault for not reading the contract. LA's have gotten very lazy in this market and don't need to lift a finger to sell a property like you say. I've worked with a realtor and, unfortunately, it's not helping me in any way whatsoever. This is why I need to turn to plan B, because at the end of the day, I won't just sit there and let a LA impede my investment process. Why should I? Would you?
