Finding good RE agent
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Finding good RE agent (by JamesD [CO]) May 15, 2010 8:02 AM
       Finding good RE agent (by Reid [KS]) May 15, 2010 8:22 AM
       Finding good RE agent (by JamesD [CO]) May 15, 2010 12:10 PM
       Finding good RE agent (by Robert J [CA]) May 15, 2010 12:29 PM
       Finding good RE agent (by AllyM [NJ]) May 15, 2010 1:04 PM
       Finding good RE agent (by Rose [CA]) May 15, 2010 1:54 PM
       Finding good RE agent (by George [NJ]) May 16, 2010 3:05 PM
       Finding good RE agent (by Katherine [TX]) May 17, 2010 2:45 PM

Finding good RE agent (by JamesD [CO]) Posted on: May 15, 2010 8:02 AM

We're thinking of adding another property to our small portfolio of 3. Last time we were lucky and had a great agent we've known for years that helped us find a real deal... unfortunately he's fallen ill and is no longer working. We've been working a bit with one of his associates but it has not been a good experience... she's new and specializes in SFHs and doesn't know much about multi-families and on top of that she's not been flexible with her schedule, so it's been frustrating. I contacted another local agent but he didn't seem too interested in working with investors... We don't feel we're experienced enough to strike out on our own (without an agent) yet, any words of advice would be helpful. BTW we're in NW Denver area in case someone has specific recommendation for us. THx -

Finding good RE agent (by Reid [KS]) Posted on: May 15, 2010 8:22 AM

Go to and look for one of his Endorsed Local provider Real Estate Agents in your area. --208.189.xx.xx

Finding good RE agent (by JamesD [CO]) Posted on: May 15, 2010 12:10 PM

Ok - I signed up with - looks like they have no agents they endorse currently but maybe in the near future...

Finding good RE agent (by Robert J [CA]) Posted on: May 15, 2010 12:29 PM

In today's market, real estate agents are a dime a dozen. It is easier for an investor to look online, contact banks and look at REO's. Some agents are worth their weight in gold, but as an investor you can explore a wider market on your own then limit it through an average agent. Rule of thumb, look at 100 properties, make 3 to 5 offers and close on one property.

Finding good RE agent (by AllyM [NJ]) Posted on: May 15, 2010 1:04 PM

Real estate agents are only out for themselves and in this market they will tell you anything to get a sale.

Too bad about your honest friend.

You can hire a professional inspector to go through a property and tell you the truth.

Do not let a RE agent supply one since they are interested in more work from the agent and may leave out something important.

I would never, ever trust a RE agent. I saw and heard one trying to sell part of my back yard to a guy interested in the house next door, for one example.

Finding good RE agent (by Rose [CA]) Posted on: May 15, 2010 1:54 PM

I don't trust them either. When I think I have to use one I call the Broker and ask for an agent that has knowledge in what I want to buy or sell. Many times the Broker will just work with me and that goes as well as possible.

Finding good RE agent (by George [NJ]) Posted on: May 16, 2010 3:05 PM

I hate r/e agents so much that I got my own r/e license to buy & sell my properties. I cut one more phone out of the game of telephone. I get to save & make some money on the side, too.

Before I got my license, here's what I would do; Look online on, if you see something your interested in, call the listing office, only ask to speak to the *listing agent*, this is the one person who knows most about the property and the seller and will bend over backward to accomodate because they will make double the comission. Don't sign anything but that they would represent you ONLY on THAT property. If that property is not for you look for the next property and deal only with that property listing agent. You cut out alot of nonesense that way, alot less people and their scheduals in the way, too.

I bought an REO proerty for $3K in PA 4 years ago and still got a referral comission of $500 for my pocket. --76.6.xx.xx

Finding good RE agent (by Katherine [TX]) Posted on: May 17, 2010 2:45 PM

The way I have found good agents is thusly:

Do you know other investors in your area? I would start by asking them for referrals. If you get some referreals, then call and meet with those agents. Only meet with people who are knowledgable about investor-buyers as we are different from owner occ. buyers.

Do try to work with the actual broker if you can. This is what I do in 2 different markets, and one agent specializes in investor properties, the other has a property management arm of her brokerage and is a LL herself (so she REALLY gets LLing). And no she doesn't gobble up every great rental property. . . .she is actually slowly starting to sell hers off, she's been in business over 30 years.

Right now I am selling my own residence. I decided to use a different agent for that, because of the differences in the types of buyers that I was looking for versus what my buyer broker for investment property looks for in a deal. The agent I have understands me and has stayed out of the way. Our buyers have been in touch with us regularly and directly. Many agents would not like this, buyer's or seller's, but we have 2 good agents on the sale, who get it.

You want someone who will give you enough freedom and flexibility to locate and purchase the sort of property you want, and one who has enough patience to let you find the property, even if you gotta look at 100 or so. You want someone who will respect what you already know, answer the questions you need answered and keep their ego in check and your interests at heart. Tall order, absolutely.

You old agent was probably like this. Interview and find someone like him. They ARE out there. One idea too is to call up some of the local small lenders and ask for a VP or senior officer (someone with seniority or long tenure in a local community bank.) Ask them for referrals. Call several small community banks/credit unions in your area and ask the same questions and get referrals. Someone good and long term reputable will be known in the community. A few names will pop up repeatedly. Interview those people.

Also ask what brokerage the smaller banks use to dispose of REOs. Generally they will farm out the REOs to one or two brokerages depending on volume, and will have a good relationship with those brokers.

This can have several benefits, obviously. I would not bother with this approach with the big national banks. You'll never get anyone there that is helpful or they may be plenty helpful but have no authority to decide or tell you anything.

Community banks and credit unions are better places to look for institutional references/referrals.

They will use the best people because they care about keeping their books up better than the big banks, even if they tell you they have no REOs, ask who they use if they were to have one.

As you are finding, you really need someone who "gets" an experienced LL. Your buying needs and criteria are different than the owner occ. buyer. You are totally correct to want to find someone who understands that and is willing to meet your needs. That's it in a nutshell. Interview until you find someone who can meet YOUR needs and not the other way around!! --69.148.xx.xx

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