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Real Estate Investors? - Frustrating!

By
Real Estate Agent with Virginia Real Estate

When working with an investor (buyer), how many times have you heard the following...

"What I am really looking for is a deal.  I want you to find me the type of property and deal that you would buy for yourself."

Now honestly, if those types of deals were so easy to find, don't you think the listing agent, their family, or anyone in their office or their families would have already purchased it before their marketing exposed it to the rest of us?  Truth is... those types of deals are few and far between because agents gobble them up before the general public can get to them.

Investors watch a little late night TV and read a book or two, then they find an agent who has little value of their own time, and run around town making numerous ridiculously low offers on ravaged properties hoping one offer will stick.

Too many times, the agent will get tired of spending so much time and gas on a fruitless effort, and the investor moves on to find another agent who is too willing to do the same thing.  And they will never sign a buyer's representation agreement.

I have seen many posts on AR about retainers and after spending much time being that agent, I am now going to implement that policy as well.  Time is too valuable and gas is too expensive to be working for free, when the chances of one of these lowball offers working out is fairly slim.

Thanks for reading my ramble.

Paul Stokes & Dean Rooke | Del Mar, Solana Beach & Cardiff Real Estate
Harcourts JADE Properties - Del Mar, CA

Dale, I too learned the hard way -- spending way too much time and gas on them. Now I say upfront to these prospects, "If I found a deal that good, why would I tell you about it?"

I never seem to get an asnwer.

Keep rambling .....

Nov 08, 2007 02:07 AM
Nancy Moeller
Seven Gables Real Estate - Anaheim Hills, CA
I think finding a deal - the right property for their needs at the right price is our job as a buyer's agent. If they didn't need us to find them, we would be unnecessary. You certainly make a great argument for a Buyer's Agreement to lock in a buyer. If we're going to put in the work, we should expect some loyality in return.
Nov 08, 2007 02:07 AM
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

It is definitely true that most good deals never make it into the MLS.  But if you are truly servicing investors looking for good deals, you can find them properties.  I am in contact with lots of wholesalers as well as foreclosure properties that are not in MLS but could be a good deal for some people.  I and my family certainly cannot buy up everything in town nor do I want to. 

The important thing I think is to screen out the wannabe investors that aren't going to ever buy anything from the ones that will buy something.  I have some investors that I have sold 5 or 10 or 20 properties to over the years.  The repeat business is great.

Nov 08, 2007 02:08 AM
Abe Do
Olympia, WA
I agree with Paul....often in commercial it just comes down to the numbers and does the property work and/or cash flow.  I have 20-25 people to call if I find a deal.....if it's that good I'd buy it myself, if not I'll go through the list.
Nov 08, 2007 02:10 AM
Larry Wright
nwRealty.Com - Tacoma, WA

Investors with well defined parameters and dependable finances are not looking for bargain deals.  I've worked with this type of buyer before and they do take more work.  But working with them regularly pays off.

Nov 11, 2007 05:37 AM