OfflineHI,
I was wondering if anyone has run into a situation like this before and how they remedied it.
I recently found a property management company who is good and very specific about the properties they manage for the right reasons. When first talking to this mgt co the gentleman asked if he could also be my agent. I politely told him that I just started researching the area and wanted to have some time to go for it myself. I said that if I did indeed want an agent he would be the first I'd consider. He said he understood and was very helpful about questions for the next several days.
I am sure he got tired of answering my e-mails about certain properties and if they fit into his criteria. So he tappered off on responding as ethusiasticly and promptly as before.
In the mean time I have found a great lady while I was inquiring about a specific property. We talked and soon I was recieving lots of information and answers to all my questions. She is an total go getter and likes to work with investors.
The problem is I have to cross reference these properties I find with the mgt company so they can see it and let me know what needs to be done to the place. The bring in a repair person so they can also provide an estimate. Which I will need to be able to give an appropriate offer.
Now we (the agent and I) are waiting on the mgt co to see the property in question. He is going to have to meet with the agent to see the place.
So with all that said, should I ask if they wouldn't mind working together as agents so she can find the properties and he can evaluate them to see if they are in the right areas and have the right specific for getting the best rental prices.
I figure the mgt company may be more willing to work together with another agent, so I don't have the added stress of being the go between.
I like the way the agent is always in contact with me and she may have better luck dealing directly with the mgt guy who is also an agent but wanted me to sign on earlier.
What to do, what to do...any suggestions? Can I have to agents who work together? What happens when they find a listing with a third agent? Do they then have to split there commision 3 ways? Or would this just be a pain for them? I figure since I am looking to buy and rent out MANY properties there has to be some kind of arrangement I can make so this runs more smoothly.
Thanks..
Challenges are only challenges if you view them that way. Try looking at them as OPPORTUNITIES instead and success will follow!!! "ME" 
Angie,
Make a decision and be honest with the property manager. If he isn't getting back to you fast enough then he hasn't earned your business. Good luck!
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!
Thanks, I will give him (mgt co) another day and see what happens. He was very attentive until I asked more questions than I think he was willing to give the time for without an agent contract.
I think if he gets a property to manage he will see I am serious. Although, I don't like being blown off though just because I don't have a property yet. In his defense I did ask a lot of questions (via e-mail) the first couple of days and he could feel he has given enough "free" input and is taking care of his current paying customers first.
I am big on customer service and communication and think you are right when saying he needs to earn my business or at least give updates. I will have to research more management options if he doesn't come through. Thank you for you'r answer and opinion.
BTW who pays the agent/agents? Is it usually the seller or the buyer?
Challenges are only challenges if you view them that way. Try looking at them as OPPORTUNITIES instead and success will follow!!! "ME"
The seller pays the agents commisions.
You never know what is going on with property managers. They have a lot on their plates. My property manager is currently changing from one software package to another and is literally working 7 days a week to meet deadlines. Plus I just turned over 2 more properties to him will be giving him 2 more in 2 weeks so I keep them busy by myself. Don't give up. (wink)
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!
Angie,
Cbrpower is right. I worked property management before I became an investor. Keep in mind you are paying this firm 5% to 10% of you monthly rents to work for YOU. It is mandatory that they are part of your team. If a management co. is on your team in time they may bring more deals to you of properties they already manage. You may want to seek out other investors and see who they are using and see if they like them. Personal referrals from other investors get the attention of Mngt. co.. A few phone calls may save you a lot of head aches.
You did not tell this property mnger that he would be the exclusive on your investments. Go with your gut feelings, it is correct most of the time. If it is ment to be it will and if not,,,,,,,,,,,,,,,,,
good luck
erh
Thanks, I won't give up. We got in contact yesterday via e-mail and I have a time set for a phone call today. I will be able to tell him what my objectives are in better detail and what I need from him, communication wise, since I am out of town. I will also be honest that in the process of looking at a prarticular property I met an agent. Thanks for all your great advice. Wish me luck!
Challenges are only challenges if you view them that way. Try looking at them as OPPORTUNITIES instead and success will follow!!! "ME"
Angie,
The answer to your commission question is yes, all 3 would have to split the commission but the the property mgr & your agent would have to split their side. As someone said trust your gut and make no apologies for selecting a separate agent.
But with that said however, this is biz is built on relationships and you need both to give you their best. Smooth things w/the prop mgr before he comes face to face w/your agent. Possibly suggest that your vision for the business you are building is to have a 'team' of specialized experts in each area (as opposed to a superstar multi-tasker). Hopefully this will put the prop mgr. in the right frame of mind and give you an opportunity to foster a team mentality whereas the 2 can indeed work together directly w/o any handholding from you AND w/o spliting the saless agent's side of the commission.
Happy Investing,
Kathy
What would you do if you knew you couldn't fail?