OfflineSo I've been working with agents and have found one that's been really good at searching for properties. But homes that I see on craigslist or while I'm driving for dollars sometimes have agents that won't work with me unless I sign a buyers agent agreement with them.
Is there something wrong with this picture and how do I go around not having to sign the agreement? Should I just let the agent know I only want to work with them on the one property listed?
Anybody know of a good website to find comps on?
I've been using Zillow a lot but just want a recommendation as well.
Thank you everyone!
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Adam Macias
The agent has to legally sign you to an agreement to put in an offer. And to get paid on the transaction, if it closes.
I am an agent and in my state we have two agency forms. One that is exclusive, the other is non-exclusive.
If you use the exclusive, have it specifically for the property you are offering on and no others. This will keep you from being bound to that agent for other deals. If you use the other it doesn't matter.
Agents have you sign these because it is required, but also to protect themselves. If they don't, you can get all of the information then go directly to the listing agent. Your agent will have done all of that work and he won't get paid. I don't know about you, but I like to paid for my work.
Hope this answers your questions,
Jim
That makes a lot of sense, but was thinking id be bound to the one agent no matter what.
Adam Macias
I would suggest you to have at least 5 RE agents on your team. Lets say you rely on one agents and the agent is slow placing offers or sending your listings, that would automatically slow down your rei business. You want ONLY A player agents (agents who are hungry to make money not someone is working as a part time in RE)
Also I would suggest you not to sign any agreement with them because some agents would request you to put down money escrow.
to answer your question on a good site to find comps
I use http://www.totalviewrealestate.com/ and zillow, trulia, homes.com BUT comps straight from MLS are more accurate which you request your agent to do for you.
Here is a helful link Joe Jurek shared with us which will help you screen your realtors properly http://www.deangraziosi.com/real-estate-forums/property-rehab-fixer-uppe...
hope it helps
Goodluck in your investing
TC
Miami Florida
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First of all, there is no money that has to be put in escrow, just because you sign an agency agreement with an agent. That only occurs after you get a signed contract. That is normal on any transaction.
And as I said above, legally agents have to have the agency agreement signed for every transaction period.
Be careful with Zillow and trulia and other online real estate sites, as their information is notoriously inaccurate and many times very outdated. Your agent will have the most updated comps and information available.
So, don't be so quick to dismiss you agents. You are only harming yourself and potentially more money for yourself. If you are unfaithful and treat agents with disrespect, you will get a bad reputation in that community and that can hinder your success as the word will get out and none of them will work with you.
I've been in the business for over twenty years, 7 as an agent. Trust me you are better off with them than without them.
Good luck,
Jim