Your Real Estate Agent, Are They Really Working for You?

By: Leo Love
Submitted: 2007-01-17 16:16:13
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I had an interesting experience with a real estate agent who I had contracted to sell one of my real estate investment properties recently. You are probally wondering why I would be selling off an investment property. The truth is, it is not preforming as well as I had expected. So I have decided to cash it in and buy a bigger property in a better growth area. Sometimes you think I don't want to sell that property because of all the hard work you put in to buy it. You think to your self, I will not get my money back. Or, I will hold it for a few more months. That turns into years and meanwhile you could be making a lot more money on a better real estate investment property.

Sometimes as a property investor you need to take stock of your situation and say to your self, what's the best thing for me to do here? A great exercise to go through is: What if? What if I sold this property? What will I be able to purchase in return? What will I be able to recoup and what will the greater return be to me? You can follow this seniario right through to the end to achieve your best possible outcome. Right through to walking away from the deal, to making a great deal. This way you explore all the possibilities and know all the possible outcomes.

This is what I was thinking when I was dealing with my agent on this particular deal. Why would I bother. Maybe the rental market will come up and improve my returns. This is were, using your unconscious intellect will always win you the best deal. I find it pays to trust your gut feeling. I think it is the universe looking after you. This deal was going to be a hard sell. So I was prepared for all of the agent's gripes about how hard it would be to sell this to a prospective home owner or real estate investor. Sure enough the call from the agent came in to say he had a client interested at a price. All the agent could talk about was the negative things about the property.This is a great time for you, as you know what is on your agent's mind. They want a sale. They can smell it and they will work you over to get it. When you get the hang of it all, you will know which agents to buy off and which one's to sell through. Right about now can be a tricky time for you. If you panic, you will leave money on the table. If you know the area well in which you are selling into, you can call the shots. But if you are new to the area and haven't done your home work, look out! They will skin you alive!

This is the feeling I got from my agent. He was calling me after hours about my real estate investment property, so I figured they were under the pump. That was obviuos with the offer they made to me. I decided to reject the offer and wait to see what they had as a counter offer. Sure enough the agent rang back twenty minutes later with five thousand extra to their first offer. I had a quick think about this offer and decided to reject it. My agent was initially shocked and told me the prospective buyers would walkaway . I still rejected their second offer. After that my agent told me tha buyers had gone. Then in a second breath he told me he had another buyer to show through the property tomorrow.

What you will find is, the agent will not divulge all they know to you, the vendor. Don't get to excited about this . This is the way they operate.The element of surprise works well through the animal kingdom. Bear this in mind when dealing with your agent even if you consider them to be a friend. That can sometimes be worse. I find the best strategy is to treat your agent as a business partner. That way you are not upsetting their egos and you get the best from them.

To your investing success

Leo Love

http://www.therealestateinvester.com

PS If any of your family or friends are intereseted please pass this on to them.

http://www.therealestateinvester.com

I am an experienced and passionate investor. I buy typical mum and dad type houses that give me cash flow and capital growth. My website offers helpful tips and ideas for any type of investor to help you with your wealth creation. Using my site will prevent you falling into the traps the inexperienced investors do.

Article source: Expert Articles

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