I have an idea for an agent to be more motivated to call me first as a buyer when they find what they might believe to be a good deal (as everyone knows if it actually hits the MLS it’s not that great).
What if I offered not only to use them as a buyer agent (with full commission) but also write up some agreement to also sell though them if they are still working as a realtor in the area on an indefinate timeline??? Does this violate any guidelines they must follow??
Just simply an idea to get ahead of the competition and looking for feedback.
If it works for you, great. It’s not a new idea by any stretch. However, the real rub with it is not whether it gets you more potential deals, but rather if it works.
You see, in most instances, a good buyer’s agent is NOT going to be a good seller’s agent and vice/versa. So what you’re basically saying is “if you can find me good deals to buy, then I’ll waste all my potential profit by letting you list my house and watching it sit there with no offers.”
This is what I do for my investors and agree that it’s not really new. Many investment books tell you to develop your professional network while you’re creating your investment plan. You can learn to do a lot on your own for a while, but at some point, it helps to have a strong relationship with a good broker.
Most agents represent buyers and sellers, but have expertise in particular areas or home types. Selling houses teaches agents what buyers are looking for and vice versa.
You should get with a good investor’s agent. They’d have a network of buyers, sellers, agents, contractors, property managers, and other industry professionals. You can find them in your local investment club and need to make sure they actively invest as well. If they’re good, you’ll learn from them and also save money.