More to the point, I've had listings that attracted mainly investor types, and it's always surprised me how little some of the agents seem to know about what a seller is looking for in an offer. Remember, the goal isn't to be the highest offer, it's to be the best offer--the accepted offer! If you're a buyer you don't need your agent to understand your business--that's your job. What you need is an agent who understands what the seller is likely to want, or more importantly, what is likely to turn off a seller to your offer. Your goal is to have the offers you make on properties accepted, and an agent who only represents investor buyers is less likely to know how to accomplish that task.
Just as a couple of examples. An offer that has no inspection contingency might be less attractive to a seller than an offer that has the Form 35 inspection contingency attached with the right to inspect waived. And if your offer is a cash offer, having a very clear and non-questionable document indicating proof of funds is likely to be very important to the seller. Someone who only represents investor buyers isn't likely to understand those things, and that means their clients' offers are less likely to be accepted.
One other thing to consider: An agent representing multiple investors sees a new listing. What do they do then? Which clients do they send the listing to and in what order? What do they do if more than one client wants to make an offer?
With the limited inventory in the Seattle area right now, those are real problems the agent is likely to face.
Please read Kary's response.
That was an exceptional response, well thought out and comprehensive.
Your question suggests you are looking for an agent who will do all the ground work to meet your objective of a 12% return, for instance. At that point you want to start your negotiations.
Please take a moment to expand on the expectations you have.
As Kary implied, sellers value the ASSURANCE of closing greatly. How that assurance is presented is golden.
Best of success to you,
Annette Lawrence, Broker/Associate
(Your real estate consultant)
Remax Realtec Group
Palm Harbor, FL
I would suggest, that as a buyer, you Google every agent that responds to your question here on Trulia, learn as much as you can about who they are online, read their client testimonials, so you know what their clients are saying about them, and then give us each a call and just ask us why we think you should work with us instead of another agent. This will take you a little while to do, but will be time well spent, as choosing the right agent is the first step towards choosing the right investment. Then, pick the best fit for you and let them go to work for you with the skill and knowledge that they have. I hope to hear from you soon.
Good luck to you in any case,
Isaac Real Estate Team
Champions Real Estate Services
TriStar Finance #MLO-107799
Office: 425-483-6849 Cell: 206-841-9976
Winner of Seattle Magazines 5 Star
Real Estate Agent Best in Client Satisfaction Award
Mortgage Loan Originator Best in Client Satisfaction
While I can't say my team and I only work with investors, we do have a plethora of investor experience, connections, and resources at our disposal. We've been involved in every phase of the game from flipping to investing to lending, and beyond. If you're receptive, I think you'd benefit from a meeting with our team to hear how we find homes for our investors.