What should I look for in an Real Estate agent? - Posted by Natasha


#1

Posted by Redline on December 02, 1998 at 14:40:38:

“Redline you`re tough” - thank you! :wink:

Really though, I get your point. And it may work for you - you’ll have to try different things. I’m just always concerned with getting people to work hard for me and I wouldn’t want to alienate anybody right from the start with a hard-ball negotiation session but I do agree with making someone prove themselves.

If I found a good realtor and did alot of business with that person, I would pay that person gladly the going rate and maybe plus. As you know, good realtors are hard to find!

RL


#2

What should I look for in an Real Estate agent? - Posted by Natasha

Posted by Natasha on November 30, 1998 at 08:35:30:

I have considered to do a 1031 exchange on one of my properties yet this is my first property to sell(exchange). What do I look for? Are there any real important questions to ask in interviewing agents? Any comments would help.


#3

ONLY a qualified one - Posted by John Behle

Posted by John Behle on November 30, 1998 at 12:10:36:

Few agents have any clue about a 1031 exchange and would only be dangerous. CCIM’s are highly trained, but not necessarily in exchanges (I’ve had the courses).

A 1031 exchange is not something an amateur should help you with - no matter how many years in the business - it is specialized training.

Any agent can help you in selling your property or finding another one, but you should have a qualified exchangor or professional at a company set up to handle exchanges.

The best resource for agents trained in exchanging would be www.infoville.com for the National Council of Exchangors.


#4

What should I look for? Well… - Posted by Soapymac

Posted by Soapymac on November 30, 1998 at 10:53:49:

for starters, you would look for a real estate agent/broker with the CCIM designation. I had a bookmark, but my last computer crash did my bookmark file a number. Maybe someone else can help with that.

If you do not have a broker in your area with that designation, then ask if that broker invests on his/her own account. If no, find another…they are out there.

Cordially,

Soapymac


#5

Another resource - Posted by John Behle

Posted by John Behle on November 30, 1998 at 12:17:20:

If you should use agents other than a trained Exchangor, then coordinate - before you start - with Bill Exeter at www.securitytrust.com.

Also, there are many exchange groups around the country. If you want to share your location, I can point you to a group in your area and possibly recommend some exchangors that I know.


#6

Re: What should I look for? Well… - Posted by John Estell(Denver)

Posted by John Estell(Denver) on November 30, 1998 at 11:46:37:

Soapymac what is a CCIM designation? I’m still learning the lingo. Thanks.


#7

Re: What should I look for? Well… - Posted by A Miller

Posted by A Miller on November 30, 1998 at 11:41:41:

After turning over 50 properties I am rather jaded.
You can call the #1 Real Estate office in your area
and ask the Broker or owner who are his most capable
agents that sell units.
A listing agent almost never sells the property. They
make their commission off you by having you sign that
listing agreement. Other agents working with their buyers will sell it. For that reason negotiate the listing commission. Don`t just figure you have to pay
someone 3%. We have agents here that will list for 1%
to 2%.


#8

Re: Another resource - Posted by Richard

Posted by Richard on December 03, 1998 at 23:39:45:

I too would like info on local exchangers/1031 people.
I’m in Northern California.
Thanks


#9

Re: Another resource - Posted by marla (SC CA)

Posted by marla (SC CA) on November 30, 1998 at 14:44:33:

John, if you could refer me to any exchangor groups/individuals in the Portland, Oregon and SF Bay areas, I’d welcome the info.

Rgds,
Marla


#10

Exchangor Info Needed - Posted by Jack

Posted by Jack on November 30, 1998 at 13:51:01:

I will be doing an exchange next spring and would like to know of any exchange groups in my area–Lexington, Kentucky.

Thanks,

Jack Stivers


#11

Certified C ommecial Investment Member - Posted by John Behle

Posted by John Behle on November 30, 1998 at 12:23:57:

A CCIM is highly trained in the field of commercial and investment real estate. It is a designation given (earned) through the National Association of Realtor’s instructional arm called the Realtor’s National Marketing Institute (RNMI). It consists of a battery of at least 5 one week courses, some elective courses and a comprehensive final exam. There are exams with all of the one week courses (except one) that are equal to the licensing exams in most states. In 22 years, I’ve never seen a better training program and a CCIM designation is one of the most highly respected qualifications an agent can obtain.

Their site is www.ccim.com for more information.


#12

Re: What should I look for? Well… - Posted by A Miller

Posted by A Miller on November 30, 1998 at 14:41:29:

My reference to cutting the agents commission referred to the listing agent who often times does very little. Maintain 3% for the buyers agent. They do all the
work.
When handing someone a listing you should negotiate for
yourself. Have it put in writing exactly what that agent will do as far as advertising, how often and where etc. Many agents take a listing, throw it in the
MLS and wait for other agents or a great RE market to
sell the property. As an investor-be smart-negotiate.


#13

Way down low … - Posted by Redline

Posted by Redline on November 30, 1998 at 14:16:46:

While I agree we all would like to save money, cutting a commission to the bare bones is not necessarily the answer to this.

You have to realize that if a commission is comparably lower than others out there, it’s going to receieve MUCH less attention by other realtors (whom you’ve already admitted sell most of the properties).

Don’t forget - this little pie must sometimes be divided many ways and everyone’s gotta eat.

RL


#14

Northern California - Posted by John Behle

Posted by John Behle on December 07, 1998 at 19:50:48:

In addition to the Bay area one in the other post, here are two for Sacramento.

Blue Vase Network
Dale Scherlen - 916-482-5646

Western Investors Network
John C. Norris - 916-482-5646 (same as above)


#15

Portland and SF Bay Exchange groups - Posted by John Behle

Posted by John Behle on December 07, 1998 at 19:47:13:

Invest Northwest
Randy Smith - 503-233-0033

North West Investors Assoc.
Ron Trujillo - 503-289-5341

Bay Area Investors Educational Service
Bill Snipes - 415-339-9635


#16

Two groups in Kentucky - Posted by John Behle

Posted by John Behle on December 07, 1998 at 19:42:34:

KRELA - Mark Lechner - 502-456-4060
No. Kent. Prop. Owners Assoc. - Denny Shelton - 606-291-3034


#17

Re: What should I look for? Well… - Posted by Richard

Posted by Richard on December 03, 1998 at 23:51:14:

I my area (No. Cal) most agents work very hard for
not much money (after expences and splits, etc.)
But, at the same time the work that seems to go
into a listing after it gets in the MLS seems
very low. Many don’t even get basic information
in the book; such as zoning, lot size, sewer or
septic, etc. Our local board doesn’t seem to care.
As an investor sometimes I feel like I’m doing
the work the listing agent is getting paid for.
Just some thoughts.


#18

Re: What should I look for? Well… - Posted by Redline

Posted by Redline on November 30, 1998 at 15:30:16:

I might agree with that. Here you’d alienate more than a few brokers, though … I can tell you.

RL


#19

Re: Way down low … - Posted by Jason(NC)

Posted by Jason(NC) on November 30, 1998 at 22:47:39:

I am a broker and I can tell youthat I know of no agent showimg 1 or 2 percent commisioned properties. You may as well go FSBO. Being greedy will get you out of this business quick, share the wealth and deals will fall in your lap. Bottom line dont be a pig!


#20

Re: What should I look for? Well… - Posted by A Miller

Posted by A Miller on November 30, 1998 at 21:26:37:

Who is Redline??? Am I being gagged???
Hope this is a site for open discussion!!
Is it slanted?? Toward commissioned real estate
agents???