The Money Mustache Community
Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: bearman on April 22, 2015, 05:19:05 PM
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Hi guys - hoping someone with experience can weigh in. I have been working with a real-estate agent to find rental properties. We haven't turned up much on MLS or via the agent's channels, so I was already thinking about looking off-MLS (postcards, etc) and FSBO to see if I can find better prices that way. If I were to find an FSBO or similar situation where the seller doesn't want to pay an agent's fee, does it even make sense to have an agent? Basically, I am thinking that if I am going to do the work to generate leads on properties, how can an agent really even help? Or am I just working with the wrong type of agent? I've purchased two residences before without an agent and am comfortable with the process. The reason I started working with an agent in this case is because I am looking for rentals in a new market (that I don't live in) and was learning about the area. Since then, I've realized that MLS doesn't work for me, and I will have to hustle off-market to find what I want.
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Before I was a real estate agent, I befriended an agent who was willing to run comparables for sales and rentals. She also was able to set up a search where I received an email if a new property came onto the MLS that would work for me. In return, I sent her every referral that I possibly could. I also took her to lunch or sent her a gift card if she went out of her way to help me. If she ended up showing a property to me and helping me through the process, than I would pay her commission. However, most of the properties I found on my own through non-owner occupied mail outs. Eventually, we had enough rentals that I decided to get my real estate license, so I can easily do my own research and list our properties on the MLS for rent or sale. I also do transactions for friends & family a couple times a year which more than covers my realtor costs.