Be Careful - A Real Estate Agent Could Lead You Astray

The real estate agent is a valuable source of potential deals for you as an investor. They have access to the multiple listing resources and of course, have a monopoly on this information so they have to be part of your game plan as an investor. Working with real estate agents can be difficult depending on the agent.

Some of the factors that you should take note of include the following:

  • When you want to purchase a property, offer them a short closing date.
    One way of getting an agent to take you seriously is to offer a fast closing date. There are a few things that make an agent more excited than the thought of getting their commission within the next 14 days. If the agent has another offer presented to him/her they will usually advise the client to take the offer and close than accept an offer that is higher in price. One of the reasons is because it is better to have "a bird in the hand, rather than two in the bush".
  • See if you can present a creative offer to the owner in person, rather than through the agent.
    If you have an offer that needs to be explained in a fashion to the owner which brings out all its great benefits, then you may have to assist on presenting the offer in person or with the agent. If you present that type of offer to an agent, it may not even reach the owner and certainly will be given less priority than other offers. Agents in general do not like creative offers because they are more interested in conventional offers from solid buyers.
  • Be suspicious of agents.
    Be suspicious of any agent who tells you what a great deal you are getting on a property. The fact is, if it is such a good deal, why he/she didn't buy it. Don't take their word as to value. Ask for a comparable sales printout to show what other properties in the area are selling for. If comparable sales information shows the same square meters as the house you are looking at, then take a drive by and see if it is correct. Don't leave the homework to your agent; make sure you do a little bit of your own assessment.
  • Don't be bullied by agents.
    Don't be afraid to speak openly with your agent if something is being done that is not to your advantage. Unfortunately there are some agents who are unethical, and work only to ensure that they get their commission. Sometimes they will refuse to present your offer to the owner when it is their obligation and duty to do so.

    Many times an agent will lie and tell you to your face that your offer has been rejected, when in fact, it was never presented. If you feel that this may be the case, don't be afraid to go over the agents head and see the owner of the agency. If you find a broker is uncooperative or not acting in your interests, then the best thing is to go to another agent. The new agent will approach the same owner on your behalf.

  • See some properties with the agent.
    Arrange to meet the agent and discuss fully what you are looking for. Do this before he/she takes you around to see some properties. Ask them to find a number of properties that will suit your requirements and make sure you are clear on exactly what you want so no time is wasted. The good agent will make an appointment for you to inspect properties very quickly so they can get a feel for what you are looking for.

    They will take you to all the properties and they will rearrange their times to suit your timetable. It is a good idea to take someone that you trust with you when you are looking at properties so you can get another opinion. Indicate to the agent that you are serious about your search and that if the right property is found, you would definitely be interested in proceeding. It is a good idea to take your check book with you so that the agent can see that you are serious about finding the right property.

    Sometimes buying a property from a typical agent can be difficult. Many of them will tell you not to call them by to check the properties from the advertisements that they place. These are the agents that would rather place an advertisement than call the right buyer so it might be wise to use other agents.

  • Note: The above points do not apply to all agents. We are talking about the disreputable minority out there. Most agents care about their work and they labor to represent their client efficiently and professionally. Those are the ones to look for.

    Copyright 2005 StartRunGrow

    StartRunGrow ( is a global online information organization that specializes in creating, developing and marketing business help information specifically with the aim of "making business easier" for entrepreneurs around the world. The StartRunGrow objective is to become a dominant player in the business help arena providing end to end solutions for the millions of small and medium businesses worldwide who continue to struggle daily with the difficulties of starting, running and growing a successful business.

    In The News:

    Real Estate shares gain  Business Standard
    Future of commercial real estate in India  Construction Week Online India
    Pune's real estate market post pandemic - People  Construction Week Online India
    ESG in real estate - People  Construction Week Online India

    Make Money As A Slumlord

    Be a slumlord? Okay, I got your attention, now the... Read More

    Find Bucks in Yucks! 20-Year-Old Woman Turns Doghouses into Dollars!

    Do you dream of making money in real estate? Do... Read More

    The New First Impression in Home Selling

    As an ASP Home Stager® I know how important curb... Read More

    Talk to a Lender Before You Sell Your Home

    If you're looking to sell your home quickly, and for... Read More

    Real Estate Professional in the Palm of Your Hand


    3 Tips to Help You Sell Your Timeshare - For More

    The values of timeshares are constantly changing. There are numerous... Read More

    Is Housing and Real Estate Bubble Hype Irrational Exuberance?

    Not so, says the author of this article and four... Read More

    Dealing With Difficult Tenants

    When managing residential properties one bad tenant can often undo... Read More

    Listing Real Estate Online - Top Tactics for Boosting Sales

    Listing real estate online can be a great way to... Read More

    How to Become a Successful Real Estate Investor

    Many folks dream of becoming real estate investors, but not... Read More

    If Your House Is a Mess, You Dont Have To Sell For Less

    Don't be tempted by "We Buy Houses" or "Sell Your... Read More

    Selling Investment Houses: Props & Profits

    New Marketing and Design Psychology ideas help you stage homes... Read More

    U.S. Real Estate Sought By Foreign Investors Due to a Weaker Dollar

    The weak US dollar has been good news for real... Read More

    10 Tips for Investing in Distressed or Foreclosed Properties

    1. Search on the world wide web for distressed or... Read More

    Buying A Home ? What Is That Noise!?!

    You've found the perfect home, closed escrow and just finished... Read More

    Real Estate for Beginners: Residential Property Taxes

    Whenever you own a piece of land, you will be... Read More

    Eleven Questions to Ask in an Agent Interview

    Questions Sellers Should Ask in Agent Interviews:1. Is your license... Read More

    How Can I Stop Foreclosure on My House?

    We understand the being in foreclosure is a scary thing.... Read More

    10 Home Purchase Abroad Tips For Success

    Are you seeking your little corner of sun drenched heaven... Read More

    Financing Houses

    What Real Estate Lenders Look ForLenders control many programs --... Read More

    How to Become a Successful Real Estate Developer

    Real estate investment and development has never been a more... Read More

    RESPA: The Real Estate Settlement Procedures Act

    The Real Estate Settlement Procedures Act (RESPA) is a consumer... Read More

    Regarding Real Estate On Leased Land

    1.Why are there so many properties on leased land?There are... Read More

    Dont Just GET THE DEED - The Infamous Kitchen Table Closing

    Q: Hi Lou, I have a property under contract that... Read More

    How To Best Negotiate A House Deal

    Whether it's selling your home or buying a home, more... Read More