I have talked to 5 real estate agents and every 1 of them didn't even understand what I was tryin to do and my intentions... they all had no idea about the contracts and each one of them always talked about needing a license to buy and sell homes and only real estate agents and attourneys were the only ones that had the right to do so... so really my question to anybody would be... Why are all of them saying this? Are they scared to admit that investors are gonna start takin over this country soon? Or, is there an actual reasoning behind this? I live in a population of almost 1 million including the surrounding areas in Nebraska and they said it was to small to do something like this and said that the contracts were illegal? I guess I am just confused now and do not know where to turn. So if somebody could please answer me about this it would be greatly appreciated! Thank You!
Five agents all negative
Posted on: Wed, 04/22/2009 - 21:00
The most common answer to this question is simply lack of knowledge. There are tons of agents but very little that actually understand how REI works, let alone what it entails. You will find that even as you educate yourselves you will be educating the agents as well.
Dont feel discouraged simply modify your search and make one of your first questions to the, are you a real estate investor yourself? I am sure tha will narrow the field significantly.
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
You are an angel... That is a very good point, I'm not sure why I didn't think of that but, a lot of times people don't think about the easy things and need to be told. I am so very glad you are on here and helping us newbies get started! Thank You again Anita! By the way, since I want to try the Instant Equity Exchange and Assignment methods, I can't seem to find the exact forms(contracts) to use and for some odd reason my computer only opens up the PDF forms but not the other documents, the docs are just a blank screen lol but the PDF forms work just fine... if i understand correctly I am supposed to use the Investor Disclosure Statement and Seller's Acknowledgment, the Investor Purchase Agreement, the Property Disclosure Notices, and the Discharge of Agreement to Purchase Statement? is that correct? am I missing anything at all? If I can get over this hurdle I believe I can do great things in this area! Where can I find these forms in PDF form?
You are an angel... That is a very good point, I'm not sure why I didn't think of that but, a lot of times people don't think about the easy things and need to be told. I am so very glad you are on here and helping us newbies get started! Thank You again Anita! By the way, since I want to try the Instant Equity Exchange and Assignment methods, I can't seem to find the exact forms(contracts) to use and for some odd reason my computer only opens up the PDF forms but not the other documents, the docs are just a blank screen lol but the PDF forms work just fine... if i understand correctly I am supposed to use the Investor Disclosure Statement and Seller's Acknowledgment, the Investor Purchase Agreement, the Property Disclosure Notices, and the Discharge of Agreement to Purchase Statement? is that correct? am I missing anything at all? If I can get over this hurdle I believe I can do great things in this area! Where can I find these forms in PDF form?
I think I am going in another direction. I am dropping my agent because i am getting a bad vibe that he is undermining me. He told me he has a connection to an investor that buys millions of dollars worth of property at a time.
But the last 2 I found and went to see with him all of a sudden were not available the next day. I think he is letting me find good deals and telling the cash buyer about them and getting his due from them.So I found a rookie that is the son of someone i work with. Although the rule of thumb seems to be find an experienced agent, I figure why not train a rookie about all the different ways we do REI. I think he will be more ears open to learing things that a veteran dont want to be bothered with.
It took me a total of 4 agents to find the right one. I spoke to 4 of them and they sounded like they were sleeping. Finally, the 5th one was a terrific find. So, keep trying, you will get the right one. Sometimes, you have to go through some clueless ones to get to the normal on who knows what's up.
Good luck, Buddy! Keep us posted.
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --
Hey!
I have done alot of business over the years and I almost always went with my gut feeling. If your gut is telling you that he is stealing your buyers, then drop him. As far as the rookie goes -- why the hell not? There is no set rule for everyone. Do whatever works for you. BTW... Where did you find the buyers if you don't mind me asking.
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --
Guys agents are very uneducated. It is not illegal to buy and sell real estate without a license. Certain rules apply to agents as far as buying and selling real estate. Agents have ethical and legal issues to worry about. A regular person just need so to know he is not being screwed and needs to understand the contract being formed and the necessary steps to complete a deal legally. I have just finished the course to get my real estate license. So I have learned aalot. When I get the license I plan to work with investors I think its the best thing. So these agents are passing up maojor deals by not working with investors. So basically. I will act as my own agent and still help people to find and buy houses. But also guys agents can look as investors as comp. Some these agents want these props and deals for them selves. I mean the educated ones as far as investing goes. So they dont necessarily want to pass these deals off to you. When the can assign the deals and make the money. So its gets tricky guys. I live in P.A. so I should have my license in a few weeks in hand. I am building my cash investors buyers list. I have about 4 solid cash buyers. They all know that I will have my license soon. So I am setting myself up and I am still looking for my own deals to pass of. So again guys some agents would rather place offers themselves and bet the deals and pass them off and make the money. A smart agent would not turndown working with an investor. Also some of them are programmed and only know how to operate 1 way, by the book. So again boils down to lack of education. Just my 2 cents so dot give up guys and gals. I wish I can work with everyone on here when I get license. I would with out a doubt. Because I understand how investors work and what needs to be done and am willing to do it. If you live in PA. PM me and let me know. Things can be worked out.
I got my mind made up.....
www.Kingjussinvestors.com
www.jussinvestors.com (buyers site)
Sorry for the book ladies and gents. Just want my floks to stay focused and just look at anyone that is negative and tells u something cant be done as that they don't know what the hell they talking about and move on. Keep at it. Believe I tell myself this everyday. And to stay motivated I think about real estate all the time. I keep it on my mind it works, it helps me from getting discouraged. I met with an investor that told me don't quit this real estate. He said it may seem rough at first but once you get in theere and understand how to do things and make some money, you will realize how easy this is and you can make lots of money from real estate. He told me again dont give up whatever you do, you will regret it, just keep pusing on until you succeed. This guy when I went to his office was showing me contracts that he did for 15k props that he bought. Not to mention this guy had 3 25k checks laying around onhis desk that he just got for assigning deals. He showed me them. He said he showed me because, he said I can do these things too, and that I shoudn't quit if I want these kind checks. Just some motivational juice taht I am sharing. This guy is one of my cash investors. He sat and talked to me for about 45 min when I first met him and told so many things. Pumped me up. Hopefully it pumps you folks up too.
I got my mind made up.....
www.Kingjussinvestors.com
www.jussinvestors.com (buyers site)
Chapters 3-8 Profit from Real State Right Now! Read entire book and these chapters are my starting point. Going to Bergen/Hudson County NJ to make money. I will keep posting on my sucesses and challenges. Thank you all for sharing your hopes and embracing your fears.
QUESTION: I noticed that DG uses a LLC in his examples for contraacts rather than a name individual i.e. investors actual name in his agreement examples. Is the LLC a better format, if so why?
Awesome comments, Thanks. I believe the best thing you could do is to follow advice provided by Matt Larsen in Dean's new book Profit From Real Estate Now. On page 114 Matt provides insight on 'interviewing' an agent. This is brilliant yet simple.
A main key in finding the right agent is finding one who is Investment friendly. All others will discourage and distract from meeting your goal.