Commercial Investment Property Articles

Having More Listings to Look At and Where To Find Them. For Example - You Have Too Many Listings Garman!!

Darin Garman, CCIM
Copyright 2006, All Rights Reserved

Once in awhile get some interesting questions. Stay with me on this because if it does not apply to you now it may later on. I had been working with a gentleman who was interested in buying a 4-plex. He was actually referred to me by a residential agent as a buyer.

Anyway, we had been looking at some properties over a couple of months and had viewed three good ones that met his criteria. After we would look at each of these properties the investor would say he would get back to me - and never did.

Well, after looking at the third property (third times a charm right?) I again heard nothing from Mr. Investor, so I emailed him to see where we stood. He liked some of the properties we saw, but, they were all listed by me and had not seen any property listed by anyone else and didn't want to do anything until he saw some other listings, by other agents that met his criteria.

So, our investor missed out on three properties that would have been great for him. The only problem was that there were no other 4-plex properties listed by anyone else that met his criteria. What do you do, just shove a bunch of other listings that other agents have at this guy that do not meet his criteria??

There is a very important lesson here: If you are looking into buying an property in the future - when you work with an agent (to buy in this case) - why are you appointing the agent to represent you? You want that agent to find you property that meets your criteria and builds your wealth.

The actual owner of the property that is for sale is not really the key to making money here for the investor - its finding the right property in the first place - no matter who has it for sale. Don't get too involved in who has it listed or who is representing themů AS LONG AS YOU HAVE TRUST AND CONFIDENCE IN YOUR APPOINTED AGENT.

Obviously the investor I have talked about felt I had something up my sleeve or that I was trying to hide something. If he thinks there is some hidden agenda, how effectively are we going to be able to deal with each other? Probably not well. The best thing to do in this case is to terminate the relationship. Without 100% confidence in your agent (no matter who it is) it will be hard for you to make as much money as you can when you buy or sell as well.

So, my point is this. Make sure that you have confidence in your agent BEFORE you start working with him or her. This is key. If you go back and forth thinking there is some agenda out there it will be trouble AND will probably cost you money. Better to sever the relationship than lose possibly thousands of dollars.

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Copyright 2006 Darin Garman, CCIM, All Rights Reserved.
Apartment and Commercial Investment Property Specialist