AMAZING UPDATE! NOW, I think I've heard it all! More illegal things we do..... what's the most ridiculous one you've heard?

said she would help me when I first started, but then I found out she kept asking her broker all these questions and then I felt like she was drilling me all the time, and telling me this and that was illegal, and yada yada. I also learned just how little she knew about the whole process as well, I just moved on.

Ok, that was a 70's song. I wanted to be funny!

Here is what I'd do... The 2nd or 3rd time you talk to your agent, (after they give you their worries and frustrations & before you tell 'em what to do with that negative info), ASK them how they feel about working with you but do it 3 different ways and find out their mind set ~ In other words, give them 3 chances to back out of your relationship. Not a lot of agents will really work with you, unless you sign a buyer's agreement and it don't have to be forever. You can request anytime like 3, 6, 9, or 12 month time frame to work with them. They like to rope you in for at least a year, but you can negotiate that. And, you or them can release the contract at anytime, should either of you feel the business relationship isn't going anywhere. I found that out the hard way, because my last one wouldn't put out any offers until it was signed. Basically if they show even the slightest notion of not wanting to take that step with you, move on to another agent. Unfortunately, not a lot of brokers or agents are who they claim to be. If you don't weed out the good ones, you'll spin your wheels.

Also, go with your gut feeling when choosing that realtor. If you can tell in their voice within the 1st 5 minutes or so they are the one with a good personality and attitude, and a cordial tone of voice, go for it. You don't want to be stuck with someone, who's trying to rush you or over-question you or your buying process. Have them help you with a few things, to see how they work. It's kinda like choosing your date (not really). If they're questioning your every move and getting in your way, they may not for you. Just remember, you buy properties your own style and your own way ~ not theirs. But at the same time, listen to their advice & take it with a grain 'o salt. If they're telling you the market is changing (shifting), have them prove their case. Ask what their investors or investor groups are buying properties at, or how much or how little discount below FMV that they are buying. That will definitely let you know IF and when you may or may not need to change your stratagem a little. I found this out the hard way, the other day.

Once you find that gem of an agent or broker, hold onto them & make their lives as easy and cost effective as possible. Be thankful to them for everything they do for you, and good kharma will come back in return.

you can give too much information! I did and they got an attorney involved. But I did not back down at all. The REA I was dealing with was ignorant to what REIs do so she relayed everything I said to her broker.. Except, she did not relay the information correctly! You all may remember my post from several months ago.

You can also give too much info to a seller. I recently asked a FSBO seller if she would do a rent to own and she wanted to know what I meant so I explained it to her. Turns out she was a REI also and the FSBO sign came down the next day. 'Nuff said!

She had all the great qualities of a great investor realtor. Like I said, it wasn't until she spoke with her BROKER that the pessimism started. Before that she had no problems with what I was telling her. And I created a system for her to make doing the 5-7 offers a day a super cinch. It wasn't until the dreaded BROKER entered the picture and clouded her mind.

I currently work with a really great agent in CA (FINALLY!!!) and he doesn't have me sign a buyer's agreement or anything; The problem is that sometimes we have to work with more than one agent and we are also doing FSBOs. And then there are the times you have a realtor that all of a sudden never gets back to you, and you try to follow up with a property you offered on with that agent and they don't call back; what are you left with? You're stuck by that agreement and lose the property. But, for the broker to go so far as to tell her she will have to represent the SELLER on all the offers I make with her because I haven't sign one is so beyond absurd!

REAs are by far the HARDEST team member to get. And if you find a good one, you need to treat them superbly! But even though I've been through so many realtors, I'd never heard these before! Thought I would share them.

But, I'm wondering if me going over the whole system to make her job easier caused me to shoot myself int he foot. It seems it may have...

Best place to find investor-friendly REAs is at REI Club meetings.
They already "get it." They're the BEST!

That is where this lady is from! Its the BROKER that got in the way... and she believed the broker ... go figure.

I do wonder though if my system shot me in the foot because I believe she showed it to the 'naysayer' broker who believed none of it would work and put it in her mind that she would be wasting her time.

Shirley,
I am wondering how to go the speed I need to go at without letting my agent know upfront. I guess I will have to start slower and not so aggressive. I made an outline out for my agent to make all the offers really easy for her to do and stressed the whole time how I wanted to make sure I valued her time, and we went so far as working out a system to easily accomplish the 5-7 offers a day; but its amazing how another person can come in and taint the minds of others with just one conversation. I think I will ask to talk to her broker to clear up some of the concerns, but it seems like she'd pretty much given into the broker's suggestions of everything I'm doing being illegal. I'll make sure to show her when the money starts rolling in. She'll be crying pretty soon....

I too said too much on my recent deal to the wife; who got the idea she could refi and finance out from me. I was trying to think of her kids and the extra information got me to lose that deal; but only temporarily. If/when the loan doesn't go through, we are still going to be purchasing the property. So its all good; and I truly was helping the kids and that is what I love to do; help people.

Sorry, this thread got on a tangent! Whoops!

Well, apparently I was the talk of the office meeting at this small broker's office, and with the help of a couple of other investor friendly agents, a very POSITIVE meeting took place. And, there was a complete turn around by the broker and they agreed once we put the system in place it won't be too bad. So, I now still have a realtor and they realize how none of the above is illegal. We'll see how it goes.

The only thing is the buyer's agency agreement; I've never used one of these. And I'm wondering, because we do have stuff sent to us from other realtors that's unlisted from time to time if this buyer's agency will prevent me from being able to pursue those properties with the other agents. I believe it does. Calling the SA tomorrow. See, even us old hands still call the SA. They have agreed to do the offers w/o it, but once we can create a successful system, she wants to sign it. I guess the broker is worried she's going to do all this work and then I go direct to the listing agent. I wouldn't do that, but the broker must have been burned at some point.

My goo
dness Tammy such BS!!! Those negitive people that just tell people that can't do something!! It just gets me.. Most people don't know better and the listen to them.. I have confidence you will find anothe agent

Well, now this agent is working with me, and its taken her about 2 1/2 weeks to figure out how to get her computer to do the system I put in place for her and she has finally ironed out the kinks and found out the shortcuts! We are now getting the offers in we want to everyday.

One of the biggest concerns with the agent of course was the price I would be putting in the offers. The broker told her that none of my offers would never get accepted. WELL, guess what? The broker was proved wrong. We got a counter, but the price wasn't one of the things countered. Her jaw as well as the listing agent's jaw dropped to the floor. LOVE IT!

Great post Tammy! It's really funny to hear this kind of stuff. I heard a ton of things when I was calling 100 banks. One bank would tell me that it's not possible for credit unions to lend on investment properties, then the next credit union I called was all for it!

It just shows how you need to be persistent and not listen to the naysayers!

You know the world of investing has eigth sides five down and three up and those ups are wonderful and those five test our charactor and will, no turning back.Last winter I was in an office and was telling them what I was doing Realestate deals and kind of telling them what I do, well that went fine and a couple weeks later I had to go back and did they ever give me the going over and I just listened and when I got my turn I told them well that is the truth and walked out, Jim ( I think I have a good Realtor now but we will wait and see)

Hi Every one its a great business and we get to help alot of people, theres no greater satisfaction that making others lives easyer and thats what we do and we are very good at it and we will get better as we go.No one said it was going to be problem free everything in life takes work, Jim

Yeah, I'm finding so many in the real estate business world only know their way of doing business and do it the traditional, conventional way! It's in the convincing process we open their minds to doing things a little differently. Some shoot from protocol only, while we show others how to work from a productivity perspective. Thus, as REIs we're changing lives on many avenues.