REI friendly Agents -(insert city name here)
One of the first questions I had when wanting to start REI was, "How do I find agents wanting to help me find deals?" I didnt ask anyone that question at the time, because I was a handy-man working for these investors, so I watched.
I saw the reality of people trying to work with "Investor friendly realtors". That almost always meant the realtors willing to show junk houses off of MLS and set a few appointments for the investor who emailed them the FSBO (for sale by owner). Their advice is usually terrible when it comes to things like rehab ideas/cost/time/ROI. They usually aren't great at locating deals, and rarely find something off market for you. Realtors have a MAJOR issue when it comes to working with investors, in my humble view this is a short list.
If they know enough about a deal to put one together for you, they know how to put it together for themselves and would have no reason to put one together for someone else.
If they are seasoned and dont' like flipping or buy and hold deals for themselves they 100% have investors who they already know will BUY what they are presented and don't need to start from scratch with a new person.
Most realtors don't actively look for deals and just search MLS or wait for their office to get calls for listings.
Realtors may show an investor dozens of deals before selling one, where home buyers typically buy after only looking at 4.
"Investors" have a reputation of not wanting to pay anyone anything. (I"ve heard SEVERAL "mentors" teach to negotiate lower payments for realtors based on possible future volume...ain't nobody got time for that.)
They do not get paid until you close on a deal, if you have no record of closing then why should they risk it?
The bottom line is that there 100% are AMAZING realtors. Ones that will put in their time, energy, imagination, money, and information in order to do everything they can for your success. However, its rare rare rare. And you would likely be able to find a bunch of deals before finding a realtor who will.
Or- use the information you have and be 100% honest about what you want (provide a worksheet of what makes a property exactly what you want. more details the better) and what you can do/have done. This will increase your chances of getting a realtor who will be honest back with what they can/will provide.
(steps off soapbox)
If you have any questions about locating deals or you want a copy of the realtor qualifying worksheet then contact me