I just have a quick question. I’m finally about to get moving in this and I decided to try my hand in wholesaling first. I’m going to look for a buyer’s agent within the next couple of days, but I was just wondering if there’s any real difference between the agents working under those big name agencies like Remax, Century 21, etc. and the agents working for the smaller, local agencies. Thanks in advance.
King,
I have been doing this for awhile now. The key to agents is simple (and I am not agent bashing) Out of 10 agents that you talk to there will be one that really knows how to work with investors and understands what you are looking for…
My Advice is simple do not work with just one work with 20 If they find the deal buy it through them and sell it through them (if you need to use a Realtor)
Realtors can find good deals but keep a open mind to FSBO’s and other options as well!
Yeah, I plan to look for sellers through several sources other than agencies, but as far as agents are concerned, I was wondering about the quality of agents employed through the big name agencies and the smaller, local ones. Which tends to know their area better and all that? Thanks for the multiple agent suggestion, though. I wasn’t sure if it would be good to use multiple agents cause they might be cutting into eachothers’ business and, in turn, choose not to work with you.
You know me and my wife both are new agents with Century 21. I honestly think it all depends on the brokerage (office) and the agent themselves. I am way to ‘green’ to get investors, I’m honest and truthful with them " I dont know enough yet to serve you efficiently, if you wouldn’t mind i would love the opportunity to bring someone that specializes in commercial services in with us as a learning tool for me and a safeguard for you. In no way would another person affect any type of payment for me or the other agent".
I really honestly feel that if i even attempt to fake it - they’ll know and I would feel absolutely HORRIBLE trying to help someone out while i was actually hurting them.
Use common sense, if it feels like you know more than them, you most likely do.
The idea of using multiple agents; in my honest opinion is if you let me know it’s fair. I dont mind at all, as long as you get what you want out of it i’m happy.
Also, pick someone you can get along with, it’s very important to be able to feel comfortable enough with someone to tell them no. I WANT to hear you say no if i offer you something you’re not interested in. If i dont i think you’re interested and i look for more things like what i just showed you you hate.
Other than that, just be honest with them, if you’re just looking to get a feel for the area, hell i’ll still CMA things and take people looking at homes. I really enjoy looking at homes, it helps us both. Gets them an idea of what they’re up against, and gives me ideas on the next home me and my wife are building one day 8)
Like Jason just brought to our attention it is not really the name of the agency it is more the Agent! I work with small and large agency’s and sometimes get just as good if not a better response from the smaller as I do the larger companies!
Living in Florida, my experience with the majority of agents is appalling. When searching out properties I seldom get a response, a simple property activity check can take days. Most call-backs from these agents can take up to one or two weeks, leaving me clueless as to what properties I had an interest in.
“Striking while the iron is hot” is not one of a Florida agents’ strong points… >:(
See, that’s the kind of CRAP I hate to hear. I work HARD for my money, I’m running day in and day out, sometimes it amounts to something alot of times it doesnt. I can say though, if you contacted anyone I or my wife has dealt with they were amazed and it was all common sense stuff we did for them.
Let’s face it, agents make GOOD money when things happen, some of them work for it, and others just get by… the ones that just get by really make our job that much harder.
It’s really not fair and the consumer’s are the one’s that get screwed. I’m sorry to hear about your mis-fortune, hopefully with the dwindling market they’ll find something else to do with their careers.
Point taken!
I wasn’t trying to start anything, i hope point taken wasn’t a bad thing. Honestly.
I well know you meant nothing negative toward me, I believe you have all good intentions regarding your new venture… 
OK i just wanted to make sure i had ruffled no feathers…Thanks for clarifying!
Edited - due to my other posts being altered by Moderator
WOW mark this day in HISTORY Infowell and REOCONSULTANTS agree 100%
Noted at 2:02 pm MST on MAY 11th 2006
LOL. I love this board’s sense of humor.
The difference between agents with small firms vs large ones varies. Large firms tend to have ongoing education and a lot more of it than smaller firms. The agent can be very good in a small firm, as well, however. One key is why is the agent working where they are? The smaller firms may simply provide a more pleasant and personal working atmosphere while larger firms carry more agents and therefore more listings/sales. Remax, Coldwell Banker etc., have a lot to offer both new and experienced agents. Smaller firms have both also but for different reasons. Some small firms are successful agents who started in big firms and got their broker’s license and went out on their own. Large firms would have a larger legal team as well should you need it. Interview agents and go with the one that knows the answers to your questions and you feel best with.
Edited - due to Moderator alteration of some of my other posts
That’s true; however, in the process they could also be working to help the client. And clients benefit from agents’ knowledge of the laws and the Code of Ethics, etc.
I am an agent and personally if I know you are working with other people, its a really good chance I’m not really going to work that hard for you. I (and probably most agents) don’t have the time or money to spend working for someone when they are working with someone other than me. If I know you are working with me, I will bust my can for you. Also, we get tons of calls from people that “want to try this REI thing” or “want a house to flip.” How many people that come on here actually EVER invest in RE; probably a very very small percentage. We (agents) learn to fill out a person. It doesn’t take long for us to talk to someone and figure out if they are really going to buy. Investors also are hard to work for sometimes. Many waste your time making really really low ball offers that will never happen. Sorry, but I know there are some really terrible agents b/c many people do it b/c they don’t really need the money so they just do RE to have something to do. But for the people like me that bust my tail everyday and actually know what I’m talking about, it sucks to hear people talk about agents just b/c this is our job. Sorry if I’m rambling. I’m typing this with several people in the room so its pretty hard to keep up with what I’m saying.
Josh
I’ve been an agent 20 years and I agree.
Josh,
If you are willing to bust your can for me and I back it up on 5 deals a month. And you know starting out that I have 10 other Realtors that I am buying houses from every month you are saying that is wrong? There is no way (I do not care how good you are) that you can sit on the MLS everyday and find deals there are simply not enough hours in the day. Now if you look for 2 hours and 10 others look for 2 hours I now have 20 hours a day looking and 40 eyes not just 2.
The problem here and I think we will all agree is there is bad in every catagory in RE. And I am going to admit this (infowell do not act suprised here) If I ever became a Realtor I would not make investors my main target! Because of all the false training out there telling them to offer 30% below market after the repaired value. I would tell them if that is what you are looking for good luck! I can spend my time on the corner holding some cardboard. And make the same amount if not more. Investors that offer 30% below waste Realtors time and I do not blame any Realtor's for there attitude towards investors and to be honest when I first started I would not want to work with me either. Well I am in the same situation as you are I see what you mean I lost my train of thought as well.. Robb