When dealing with a Realtor that has a house listed, what type of questions should I ask them as part of my due diligence so that I can identify if the property is a good deal or not?
ask him/her for a CMA - have them email it to you.
don’t ask them anything - most are idiots.
plus, they have a fiduciary responsibility to seller - so they’re not really going to give you any “heads up” and they definitely will not be able to give you anything near what you need in order to determine if a deal is good or bad.
if it’s a regular house, listed with a regular realtor - it’s probably priced at or above market value…or maybe 5% below market, which is not in the realm of rei.
now you can ask some general questions like:
how long has it been listed
why are they selling
any previous/current offers
age of home
i mean, really, you need a realtor on your side. the sellers agent works for the seller…but i mean, some sellers agents are very in-tune with seller and the lines of communication can be very good, but this is not usually the case - you need your own buyers agent to help with COMPS and other info on property and you need information from the SELLERS themselves.
good luck…get good info - and/or just do some homework on like 25 properties and make 10 offers, use a realtor for help - the 10 offers should be for 1/2 the asking price along with some multiple offers. see what happens -
WARNING: BEFORE YOU DO SOMETHING LIKE THIS - LEARN ABOUT REI and your local market…get back to us in a month or two or three… 8)