MichaelC 160 Report post Posted March 27, 2008 Greetings, Darin, and welcome to The Naked Investor! We're glad you found us and, no, I don't hate Realtors. Well, over the years there have been two or three I've wanted to feed into a wood chipper, but I can say the same about some folks who aren't Realtors. . .so maybe it's me? Truth is, a Realtor/Investor, or a Realtor who at least understands investors, is a great asset to have. I always tell people that if/when you find such an individual to hold on to them like they're a rare jewel. They can be invaluable to finding great deals. Problem is, Agents like that are far and few between. And that's why you'll read some griping on the board about your brothers-in-arms.Not to worry though, Darin. You've already scored points with your cheeky Planet of the Apes comment. Share this post Link to post Share on other sites
jesmar424 0 Report post Posted April 9, 2008 Is it me? Do I stink? I emailed 14 Realtors over the weekend, trying to find some eyes for me to buy some properties. 14, and one emailed me back to tell me he was too busy right now but would get back to me. That was on Saturday, and I still haven't heard back. A second Agent emailed me to tell me he would have one of his "many team members", , contact me. And one did, but he was in the commercial property division and had no idea why my name was passed along to him since my original email specified residential properties. And that's been it. Is business so good today that Agents are routinely blowing buyers off? Do they not like me because I associate with Doug? Rant over. . . MC - Are you contacting these realtors in effort to do a CA or SLO with them or to just buy outright at a discount? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted April 9, 2008 I was contacting these Realtors with an interest in an outright purchase. I guess my mistake was telling them in advance that I wanted to buy with cash and close fast, in exchange for a below market purchase price. Share this post Link to post Share on other sites
jesmar424 0 Report post Posted April 9, 2008 I was contacting these Realtors with an interest in an outright purchase. I guess my mistake was telling them in advance that I wanted to buy with cash and close fast, in exchange for a below market purchase price.Have you guys worked with realtors on CAs or LOs before? I had a realtor contact me recently with properties that are available for LO. If so, what's the best way to handle this? Charge a "marketing fee" for any of my buyers that I place in his properties? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted April 10, 2008 I was contacting these Realtors with an interest in an outright purchase. I guess my mistake was telling them in advance that I wanted to buy with cash and close fast, in exchange for a below market purchase price.Have you guys worked with realtors on CAs or LOs before? I had a realtor contact me recently with properties that are available for LO. If so, what's the best way to handle this? Charge a "marketing fee" for any of my buyers that I place in his properties?The question is does the Realtor understand what you are doing? And if so, what does the Realtor want from you? Ask him/her directly what compensation they expect. Share this post Link to post Share on other sites
Dustin 0 Report post Posted April 10, 2008 Hi Hilton and welcome.... The sarcastic undertones come because most often both the investor and the agent can mutually benefit when it comes to investing but there are always hurdles that seem to create a reverse magnetism of the two. For the agent... hurdles are usually problems that come when trying to help an investor who fails to perform and/or consumes an agents time (and sometimes ego/pride). For the Investor, its difficult to find an agent who does not operate in black and white when required (non-motivated filling out of contracts due to standard school of thought). The list of differences between the two does not end there either. I like to see it as a marriage.... there are good ones and bad ones and it takes effort and give-n-take on behalf of both parties. Most of the time, for us investors, an agent only gets in the way. Most of the time for agents, an investor only wastes the agents time and energy. In a good "business" relationship, both the investor and the agent find satisfaction in one another and both reap rewards. Eventually they can trust and lean on each other for wants and needs. An agent is licensed and an Investor is not. One has special access and the other does not. Both can make things happen and that takes team work. Both should appreciate the other but it does not always happen when it matters the most. I typically don't mess with agents unless it would come time to sell a property for maximum profit, after all, agents are experts in that area. Share this post Link to post Share on other sites
vballdarin 1 Report post Posted April 12, 2008 That's a pretty good way to put the relationship between the two. As long as we keep in mind that creating a win~win~win situation is the ultimate goal. An investor should try to use his/her knowledge in creating deals to assist people . Sometimes this may mean telling them what they might not want to hear. A Realtor/RE agent should remember that agency involves obedience, loyalty, disclosure, confidentiality, accounting, reasonable care and skill, as well as advice, councel/assistance in negotiations in the best interests of their client. This may mean telling them something which is not in the best interest of the Realtor/agent ($). It's a give and take. Share this post Link to post Share on other sites
