How To Get A Real Estate Agent To Work With W/ Me -- A Newbie Investor
My hubby and I are newbies to real estate investing. One of goals is to create a relationship with a real estate agent. I've talked with several agents, but we're in a hot south florida market and it seems that none of the agents get real excited about working with us. They all seem to be busy. Any advice or tips on getting an agent to work with us? Better to get my own license and be our agent? Thanks in advance for your help. This site has been invaluable !!! 
What are your goals by creating this relationship with the realtor? what are you wanting them to do for you?
Nice to meet you guys. For agents it has worked great for me to provide some value first. One agent I work with quite a bit now, I sent listing's too. I go on about 1-2 appointments a day, so there is quite a few deals I just can't work creatively, usually they are open to a great listing agent. For her I checked on what she was doing locally and a little background info and then called her and asked if she would be open to some possible hot listing leads. Of course she said yes. So I sent her a couple of leads, actually got 3 listings, 2 sold, one is pending with what was supposed to be the sheriff sale today, looks good though actually helping on that for a fee for my time.
The important thing to note though is I provided her with some value before I asked for anything in return. Actually I have yet asked for anything in return but she sends me great leads and asks me for some creative advice for alot of deals. Signed one deal from her leads already.
The above is what has worked for me , takes some time to build a relationship but it is worth the effort and time.
I live in South Florida also (Davie), I had the same problem that you did until I just decided not to deal with them. I finally met this one lady through my sister who is also a RE investor. Eventually you will probably meet a good one that is willing to work with you but until then just do your own reasearch and find you own deals. Unless the agent you meet is also an aggressive RE investor, they willprobably will dicourage you more than help you.
To all that replied. Thank you.
To DaveREI -- great question. I think that is part of my problem. I'm not sure exactly what a real estate agent is supposed to be doing for me??? I know they can make offers for me on listed houses, but really I think I'm hoping to find someone who is willing to send me some deals. I think the person who said to give a little will help me get a little. Good philosphy
To be honest, I'm reading a book that says "know a good realtor" but I was unsure what for. The responses here helped and I really appreciate everyone taking the time to reply. Little by little I'm learning
Jessica
Hi everyone, this is a great site isn't it !!!!
This is my first post, one of many, I'm sure of that. I too am a Newbie. I would like to comment on this topic. A Realtor is good to have on your team when you are just starting out in Real Estate, as a beginning investor you don't know the market, the lenders, neighborhoods, etc...... Finding an Agent takes knowing what you want out of that person in terms of their fitting into your investing plan. It doesn't matter whether they can access the MLS or get you listings, show you properties, da..da..da...
A lot of Realtors are owner/agents who have been where you/we are at this time and know what we are up against. Some are inclined not to go back down that path because it was hard, now they are commission based not only for themselves but their agency and yes busy, not up to date on creative financing, and some just want to work only with good solid deals (banks).
To find an agent who will work with you on your terms (creative investment) may I suggest some basics: Networking in an investment club in your area, posting your business card or info at spa's, daycares, grocery store boards, going to free seminars, create a free hour talk session inviting them to come out and meet possible buyers/sellers (this lets you know whose open to creative financing while you get a chance to build an ongoing rolodex of contacts).
On the light side I think the motto of a lot of the Realtors I have come into contact with should be " Show Me The Money " . LOL
I was able to find my agent thru a co -worker, she knew I didn't have a dime to my name or a place I could spend it. I was very candid, straightforward and let her know I was at her mercy for her help to get started. She has called everyday with a property for me to go look at and makes me feel as if I am spending a million dimes.
I think that is all I have to say and I wish you well on finding your agent, the right one will come along and you will prosper with their help.
After you mentioned building a relationship with a realtor, I had to jump out of a 30 story building, and then drag my broken body out to the highway so I can die with peace.
ARE you Crazy ?
realtors are scum, most will only try to sell properties they list, and 1/2 of the time they cant even do the paperwork. your going to pay someone to sell your house in one of the best and longest running real estate booms in history?
Just be carefull,
If you buy right, you can always sell at a profit.
good luck.
Hello, I am also located in south florida-Hollywood. I know exactly what jessica and Raj mean. Real estate agents are hard to find/and or work with . Its a seller's ,market down here.
I birddog for a handful of investors. I'm always looking for ways to find new properties, be it Rea's-- which most of my investors don't care to work with . Or the local tax assessors.
I've tried to join a small investors group in Broward, to see if I could network with REA"S,lawyers/attorney's. Its seems most of them are not into creative investing. Or are used to dealing the "old fashioned way".They think creative investing is all about scams for some weird reason.
But i know Its all just a numbers game.So I continue. But I think it will just be best to try to work on my own and hopefully network with rea's later. I just have to look for leads elsewhere. Calling up rea's got me nowhere.
good luck!
[ Edited by Alexis on Date 04/03/2004 ]
Dear New Investors laboring in the vineyard of Real Estate. Rule One. Do not establish a position in opposition to your local Real Estate Brokers. Always be useful to them and make them useful to you. I wear four hats. Broker, Mortgage Broker, Investor. Appraiser and when necessary Syndicator. Mostly I cool out the participants so the task at hand can be accomplished.
Strangely enough most of my syndicated buyers were and are a mix of Brokers, Appraisers and Investors. They all get along that is as long as we do not discuss politics, or religion. But then it was always so.
I have formed Syndicates where each little discipline had a duty. The Investors ran. The Brokers furnished information and procedures. The Appraisers for once freed from the duty of impressing some lender, gave correct value information. And on it went. I know this is not the most correct thing to say, but when in heavy Negotiation I found that the Real Estate Brokers were best. For running down properties on simple lead I found the Investors were best, with training. They were still malleable. Rigid
behavoir sets in as the Newby concentrates on one or two methods. Big mistake, stay loose. learn them all. Up market, Down market work in them all.
A Newby is an excellent sounding board in any Syndication. They furnish a fresh view and that dear friends in a Temporary Runaway Up Thrust Market is an important ingredient. It gives you a view of the populations hysteria and allows you to calculate how much steam is remaining and also at what level price resistence begins to gather.
The One Percent Rule is past history, just about like 1870 and also 1929. The push just before crash was very similar. You can make a lot of money but and this is where you must access the Newby and the attitude of the Speculative public, when to bail and go short.
I had two Grandfathers. The old time East Coast Wall Streeter conformist rode the 1929 crash all the way to the bottom. Covered his clients accounts as they bombed, played the perfect gentlemen and at the end of the ride. Picked up his desk blotter and extra pen and left. Of course he started all over but that was another day.
The other one an emigrant attorney from the wilds of Great Britain. went short and with his partner Bernard shorted the market with a position established two days prior. His partner Bernard went on to glory advising presidents and congress and my Grandfather gave up the practice of law and indulged himself, moved to Calif. played with Real Estate and the good life.
My suggestion if this is what you want to do in life, play in the dirt. Then get educated. No No do not read the books, just take the Real Estate Examine and then spend a little time in a Brokers Office. Learn all of your information sources and how to properly use them. Most brokers do not utilize them they have not a clue how to massage numbers. they never use the MLS and all the other good stuff to maximum use. They look at properties one by one and see only the one.
There is a rule goes way back it is called "The Wide View" Whenever you go and look at a specific property always look on both sides and across the street. Maybe you can use the other properties, in combination, or in conversion or in mixed use. It goes on and on. You are there, so look.
Guys, and Gals. You just have to learn. Most learning is OJT (On Job Training) you must be adaptable to changing times. For that you need exposures.
The no money example: You lease option a small little hse in a so so area. You convert the garage into an office for yourself. Yes you do it yourself. part of learning. You don't use drywall you just plastic sheath the walls very cheap. You then get a used 20 ft container and have that delivered $150 for delivery and $400 for the container. You then rent a plasma cutter and you cut in your doors and windows. You tie a waste line to your house waste line. You run in a electric line and you convert it in your leasure time into a nice single unit. Do most of the work yourself. When finished you may rent it out. At that point you excercise your option and the owner comes back with a second and the nice little unit pays over half of your mortgage payment from the rent. This is lower income level stuff. You are learning as you do. Use the trades only when necessary and when you use them you watch and participate so now you learn.
Now you have housing, you have a little income and you have an office. Your feet are on the ground and you spread from there. Maybe next door, down the street. Whatever. Maybe you learn a little mortgage procedures, tie into a couple of online lenders and suddenly you are helping everybody in the neighborhood refinance and also in the process you are playing another little Real Estate Game, King of the Mountain. You become known and everybody calls you if it has anything to do with Real Estate.
Enjoy, it is a lot of fun. Lucius
8-) 8-)
We've got a lot of Florida on this board, I love it! :D