Crossing the line! ... RE Agents -v- FSBO

I would talk to her. There are numerous sellers out there advertising there properties along with the agents. I ran into a few and actually dealing with one that lives out of state about their duplex. So, if you have the chance to get the information you need go for it and see what her 'magic' buttons could be (like dean says).

Make it Happen.

If the property is a FSBO, and your agent was going to show it to you, then the agent would have had some sort of agreement with the seller to get paid for bringing a buyer. Ask your agent is this is the case. If it is then the seller and the agent have already worked it out. The seller would not have known who the agent was going to show the property to, so when the seller contacted you, he did not know that you are working with that agent. Let the seller know what happened then let the seller and agent work it out. Keep a neutral position, and you should stay in good standing with both the agent and the seller.

Al

Mr. Can't Stop and Al make very good points. In some states, the agency relationship between the seller and realtor leaves open the door that if the SELLER brings in a ready and willing buyer, the realtor is out in the cold (except for marketing expenses). These are non-exclusive agency relationships, and obviously realtors HATE them because at the end of the day, the seller can be the procurring party even though the realtor spent a whole lotta time meeting with the seller, obtaining the listing, MLS, marketing, yada yada.

Let me tell you Angela, if you're working with 3 different agents, just be clear with each of them and let them know. I'm a realtor and after selling REOs exclusively, my former broker had a motto that is: "Buyers Are Liars!" especially in this buyers' market.

Just let them all know so they and you can be clear on why you have 3. Maybe one works in a different county than another and can't get lock box access readily because s/he's not a member of the county's MLS and realtor board. However, maybe that agent is really hungry and happy to accomodate you and will always get the seller's agent to meet you at the properties.

Maybe one agent is in a different state, and is obviously not able to show you properties unless s/he has a license in the 2nd state, but maybe you don't know that that agent's broker/owner does; that is very common, especially in small states. Maybe you don't like one of the realtors, but you can tell s/he's really sharp and learned.

Al's always right - honesty is the best policy. That being said, let the seller and agent duke it out and you sit on the sidelines and let them let you know the end result. No reason to blow up a good relationship with your realtor if the seller is doing something sneaky behind the realtor's back.

Happy trails and good luck!

Thanks for your input.
Jenny, one of the agents is in a town further from my home than the other 2 (these 2 know about each other, sending me different info) however he is still in the same county. I think I will see for a couple of weeks how this is all going and pick the one I have the best relationship with. Sounds easier to do that.
Angela

When I started out I contacted about 6 realtors - and then weeded out the ones who didnt take me seriously, werent willing to do the work, etc., and finally settled with one who is awesome! Eventually you do want to have one person you are loyal to and vice-versa, or it will get complicated because they all will be sending you the same listings and someone is going to feel slighted. Super important not to burn any bridges in this business - be up front with everyone. You never know when you might work with them on some level again.

I ditto what Laura Johnson said: we had some awkward moments and conversations with various agents with whom we were being shown properties; turf issues, etc. we too, weeded out several who were not investor friendly, but have burned no bridges.
With a couple of them, there was just this profound distrust even before they knew us. . one that we considering reporting because she didn't present one of our offers she said was "too low" even though agents are obligated to present EVERY offer. The woman we have now as "our agent" was willing to be flexible, make verbal offers,present letters of intent for us prior to actual contractual signing as a "feeler" for motivation level. She's helped us and likewise.
ALSO and finally, this is all still so very exciting for us one year into beginning the training; 7 deals in 9 months using the concepts and principals we were taught!!!
To feel this successful at an enterprize that drove my anxiety through the roof is like nothing else; I love the feeling of going into the banks and title companies and being known on a first name basis, having this sort of credibility and the personal freedom and sense that I'm proactively shaping our future and "piloting the ship" is just like nothing else!!!!!!!!!!!!!I have a great story. .and will share more later. . .RC ITLT Ventures(it's the little things) REal Estate Investor,
feels so good saying that!!

Wow - 7 deals in 9 months! Dont want to go off thread here - have you shared your stories elsewhere on the site - such as what strategies are you using: birddogging, flipping, wholesaling etc. Please - do tell somewhere!!!!

Laura,

Thanks for your input, I am thinking that I will do exactly as you suggest. Already one agent did not email something they promised 5 days ago.
And then, there were 2 !

Angela

Grady,
I ditto what Laura said .....

"Wow - 7 deals in 9 months! Dont want to go off thread here - have you shared your stories elsewhere on the site - such as what strategies are you using: birddogging, flipping, wholesaling etc. Please - do tell somewhere!!!!"

You have only posted 4 times in almost a year and then you snuck off and sealed 7 deals in 9 months!!!!!!

WOW!
You say "have a great story. .and will share more later."

Why wait?
Laura and I are waiting here with baited breath!
I was busy today so maybe you started a new thread with your story and I missed it ... if you didn't do that yet, go and do that immediately!

Either way, come back here and tell us the Title of your Thread so that we can enjoy your story. I cannot wait to read all about it!

Angela

O.k. Laura and Angela, and thanks:
capsule form: we accessed a l.o.c from local bank on one of our properties which had no lien.$60K l.o.c.and used that, paid cash of $45K for first home, rented it immediately for $550 all pos. flow because no payment on l.o.c for 12 months; bought another through contract for deed, a few thousand down, and a balloon note in 12 months; rehabbed and sold in 3 months; paid off balloon. Bought another house on pers. cc for $12,500 2.9% for life of loan, rehabbed a little(mobile home)sold for $20K with $3,000down and owner financing for 3 years:bought another one with financing from our same local banker w/no payments or interest for 6 months; have a renter lined up when rehab is complete;and THEN my favorite: LISTEN CLOSELY: bought another house on joint venture; accessed my half from new mortgage on(same local banker) the $45K first home we bought, which had no lien(remember? paid cash!) flipped this one in 5 weeks, In the interim sold the $45K home to the current renter for $53K,paid back the lien on this fourth house, and paid a chunk back on the original l.o.c. THEN,took the proceeds from the one flipped in 5 weeks, and divided it equally between slush fund account,"show money" in two existing bank accountsfor working capital and the other third paid toward some of the "floating" debt for materials used over the course of 9 months such as Home Depot, Lowes and a flooring company than extended the no payment/no interest for 12 months.
Hope this is clear enough to understand.This blogging, some of my first helps get me motivated to do, learn and share more.
Grady"Crosstown"

And impressed. Thank you for sharing!

See, Laura's comment.
Honestly though I will have to read it several times to appreciate and understand it thoroughly!

hello All
I posted earlier about "our" agent, that we'd settled on who was so flexible, etc, etc. Well, lo and behold, God love her, she's fallen on some hard times and can't seem to regain herself, her drive, her interest.. . . .for a few months now and may, in fact be on her way out of the business altogether.
And, hey, I'm focused here. .. on a mission, a quest. . .o.k., yes, a little driven, bordering on obsessing!
Anyone had any experience with advertising for an agent? you know, some manner or method of making it known that you're in search of an "investor friendly"? does this sound crazy or inappropriate?
lemme' know
Grady 'lookin cross town'

Hi Grady,

Go to the top of the left hand panel on this site and in the Search/Enter box put in the following words:
"Finding a Good Realtor to Work With You"
This is a forum with some info that might help you. Let me know how it works out for you.
Angela