I often hear seminar leaders tell investors to seek out real estate agents who buy and sell properties for their personnel investment accounts. This advice is akin to leaving your fiancée at an all-night bachelor party, hoping your friends will always do what’s right for her. I can see no advantage to having my own agent competing with me to acquire bargain properties.
Real estate agents are the eyes and ears of the real estate business. 96% of all sales and trades involve licensed sales persons and their brokers. It would be very foolish indeed to harbor any serious notions about excluding them from your investment plans. The best thing you can do for yourself is too diligently begin searching for a good one. Before I get started on the how’s and why’s of selecting the right agent for you, let me first discuss the issue of commissions. This is what agents earn when they help you buy and sell real estate. You need to understand there is no such thing as a standard one-size-fits-all commission. They come in all different sizes. For example, in my town, most agents charge about 6 percent for selling houses. However, that’s not the market I’m part of. House buyers generally represent a one-time “wam-bam” transactions for most agents. I’m a buyer and sometimes a seller any time a good deal pops up.
The worst part looking for a new agent is always breaking the ice introducing yourself to complete strangers whom you think might be able to help you. There’s no way to short-cut this procedure, so it’s best to simply charge ahead and do it. When you eventually find an agent who can appreciate your goals and is willing to spend time helping you achieve them, you’ll suddenly realize you’ve added a powerful new tool to your “wealth-builder’s” kit.
Just like a budding romance, the first thing that has to work is chemistry. It will do you no good in the long run to force yourself into working with an agent who disgusts you no matter how good you think he or she maybe. Obnoxious agents are best left to service obnoxious house buyers since there’s no shortage of either one out there. I mention this because it’s very important to develop a relationship that can last a long time. Lasting together is much easier when you like each other.