Congratulations! You’ve now registered for our special webinar training on Thursday (November 5) at 9:00 PM ET, where we’ll discuss why investors and agents don’t get along – and how to very successfully and profitably bridge the gap. To join the webinar at that time, go to this link: http://BryanEllis.com/webinar/
Real estate investors and real estate agents don’t seem to get along very well. Seems like it would be a match made in heaven since real estate agents need to find buyers and sellers for properties and real estate investors frequently do multiple transactions each year. Alas, mixing agents and investors is frequently more of an oil and water type of thing.
To an extent, I can understand it. Investors have the advantage of being able to make significantly more money per transaction than agents along with a much lower barrier to entry. Just think about it: Investors use “home made” signs that say “I Buy Houses” and show their telephone number, whereas agents create full-color glossy brochures and business cards to convey a more professional image. And when a real estate investor closes a deal, he/she can easily make an amount far in excess of the 2-6% that the real estate agent will make under the best-case scenario.
And then there are the legal issues. Real estate agents get “protection” legally because they are licensed, but the price they pay is serious limitations in the way they can do business… and there are a seemingly unlimited number of missteps that can be made which could result in the revocation of an agent’s license and therefore their livelihood. Investors, on the other hand, have a significant amount of freedom in the way they structure their own deals.
The question becomes:
- Is it worthwhile to find a way to help investors and agents work together better? If so, then…
- How can such a cooperative relationship be formed for the benefit of everyone involved?
I happen to believe that working with agents is not the right answer for many real estate investors. But the fact remains: the mass-market of real estate is always going to be handled by real estate agents, and to ignore them as a matter of policy is to overlook a huge and substantial portion of the opportunity in today’s real estate market.
That’s why we’re having our special webinar on Thursday (November 5) at 9:00 PM ET. I have had the good fortune of getting to know a man who is a bona-fide expert when it comes to structuring highly profitable and completely win-win scenarios between real estate investors and real estate agents, and he has scores of big checks to prove it.
I’ll tell you more about it tomorrow, but take a moment now to mark this time on your calendar: Thursday, November 5 at 9:00 PM ET. At that time, just go to this page to join the special webinar: http://BryanEllis.com/webinar/
In the mean time, feel free to sound off with your questions about working with real estate agents. And if you happen to be an agent, please tell us if you are frustrated by the notion of working with real estate investors and how that relationship could be improved. Use the comments area below to leave your questions & comments.
Thank you for reading http://realestate.BryanEllis.com!
What is the best way to deal with some of the total jerks that are the agent’s broker?
I have found more useful agents that had total liars and cheats for brokers than one would think. I have always just walked away, I find they are too much trouble to deal with and if you bring up some of the laws to them they just laugh and tell you it does not matter. Attempting to get any kind of action on this has proven to be a waste of time. So I am open and interested because I think most brokers are worthless and are not a service to the client, the agent or anyone. Most of these brokers were with very big real estate companies.
What questions should be asked of an agent or broker to determine:
1) depth of knowledge in a specific re area (ie, short sales, reos)
2) depth of knowledge of local mls and state realtor association guidelines
3) A questions that could point out if they are solution focused or problem focused.
Thanks,
You have to strike a balance with regard to some trust, competency and ethics. Yes ethics–It is my belief that Realtors have an inherent conflict in determining the price of a short sale property. They will due a CMA within a certain range of prices. The seller-client really needs to sell, the Trustee Sale has been continued twice and the Realtor Lists the property at the high end of that CMA range with the intent of receiving 6% of the selling price, which in the approval letter will likely be reduced to 5% in most cases.–on a 35k spread in the CMA highlow prices, so the List Price being in the high range, that house will most likely not get sold for many weeks whereas if the lower end of the range were to be selected or even the lowest price in that neighborhood, the listing agent may well see some serious offers come through with POF letters etc.The net result is that yes the Realtor earns less but gets the job done for his/her client without letting them get into the jaws of a trustee or sheriff’s sale. There are a number of suits winding their way through the system right now in southern Ca.and it is only a matter of time before these and other issues will have them call their E+O carriers. Like I said a mutual balance is the key but not all of them “get it’.