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.
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