Real Estate Agent Or No?
When purchasing a home to flip is it a good idea to go through a real estate agent when buying AND selling the home?
Would it be wise to cut out the middle man, such as a Real Estate agent to add to your profits when selling?
[addsig]
It all depends on the real estate agent. I have had some yell at me over the phone. Yet I have some I work with to this day. If you explain to the realtor what you are doing, you will know how they feel about it. Also if you explain to them that you will be doing this on a regular basis, they may lower there fee. The best way to approach them is to show them that you will consistently be making them money as you are going to buy many properties. By the way is Hoffman estates in Hoffman IL? Southern Illinois? If so there are many deals out there My uncle lives in Marion near centralia.
Good Luck,
Kyle
Thanks for the advise Kyle!! I have realtor that help me find the house that I currently live in and she is really good. Being extremly new to investing I'm not to sure how the market is out here but it is a popular area and constantly growing! I'm still just getting my feet wet but want to wiat until I'm a little more educated before I make the plunge into the pool if you know what I mean? By the way Marion, IL is about 5 hrs. south of Hoffman Estates. Thanks again for the input! Brian
[addsig]
I used an agent to both purchase and sell a rehab. Worked both ways. To retain my profit - I instructed the agent to price the house to include their fee. Work out well. Sold the house in sixteen days for cash.
itpro15,
I HAVE BEEN LUCKY!!!
I found my RE agent at a VA. resale,open house, in 1995 and He is an owner/operator of his own RE Company.
The first couple of deals was at FullBoat..but after that, we made a deal, that he gets about 1K+ per deal...
...I do ALL the foot work and he makes the Contract...
...easy for him...profitable for me!
OH!....and BTW...he is NOW, one of MyBestFriends!
....as always,
GoodInvesting, Rocky
[ Edited by 2000rock on Date 07/24/2003 ]
ok I cant take it anymore.
1) How many "rich" realtors do you know?
2) Dont trust realtors, they work for the seller.
3) AND MOST IMPORTANTLY
If the deal is really really good, Why in the fggg didnt the "realtor" buy it and flip it himself???
Be smart guys, this isnt rocket science.
Jason
Jason
1. What does being rich or not being rich have to do with someones ability to send me a lead (I have purchased a house my UPS diver told me about) he is not rich
2. I don't know about your state but in colorado there are buyer brokers they work for the buyer.
3. Good Real estate agents (about 2 out of 100) have more than a full time job working for thier clients they don't have time to steal thier clients deals. A bad agent probably does not have to resources to steal the deal from you
my last deal I bought without an agent and sold with one
this current deal I am buyng with an agent and will sell without one.
If you can't buy or sell a property without an agent you are in the wrong business but you need to take atvantage of all your resouces if you are going to succeed.
I do Rehabs/wholesale.
One of the methods I use is my real estate agent sends me a list of all new listings in the area (all of Denver metro) every day.
The curent house I am buying was found using this method.
I don't let my newbie status here confuse you I buy and sell houses full time. it is my job.
I am new to these forums not to real estate
The key is to have an open mind but not so open that your brains fall out[ Edited by bob1082 on Date 07/27/2003 ]