Are there really real estate agents out there who WANT to work with investors?
What is it that makes investors so undesirable to work with? Over the last week I've spoken with a number of friends who shared with me their struggles with working with agents who fail to understand what and how we do what we do. Stories ranged from agents who were very collaborative to others that were down-right hostile. Developing a good relationship with agents requires a bit of understanding, business acumen, and collaboration.
Let me state the obvious, as an investor I am interested in doing a real estate transaction that nets me a profit. It is not unlike you, the agent, who is expecting to receive a commission on a deal. Right? What we are both looking to do is successfully complete a transaction that solves problems and as a result makes us some money. Done right, this is a team effort. I rely on the knowledge and understanding of the market by my agents, and what they can rely upon me from me is to put the cash on the table and close the deal.
Not all investors are out to "screw" someone. The media does a good job at reporting and promoting real estate fraud and schemes that amounted to millions of dollars in losses, often for homeowners or lenders. While the word "investor" is often used in these stories a better word should be "crooks!" When you dig into these stories what you find is that legitimate business folks, at some point got greedy, and clearly engaged in illegal activities with the intent to deceive the parties in the transactions for their own benefit. While many agents can cut through the media dogma, many still see us as a threat based on misperceptions.
"I've got a deal!..." said the agent. But what they really meant was "I've got a short sale that is 2 days away from the trustee sale date", or "I've priced the property significantly under market to generate activity, but the price will not likely be something the bank will accept", or "I'm just frustrated and am having a tough time managing my seller." I can appreciate that some deals can be a challenge, but bringing us an opportunity that has been mismanaged or not carefully qualified is not the best way to develop a relationship with an investor. We like to collaborate and design creative solutions. The best relationships I have are with agents who understand my business needs, the guidelines for my investments, and carefully screen the deal prior to presenting it to me.
It is my opinion that some agents can have an exceptionally good relationship with an investor. I know this because I have a few awesome agents I work with. This, however is more the exception than the rule. Creating a great team is about relationship building and cooperation. The question is "Are there any agents out there that WANT to work with me? I am an investor."
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