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