Listen to your gut – Picking a Realtor

Written by Marc on June 9th, 2007

This may seem to be a strange title for a blog post – but I urge you to read on.  You may have read in many books or heard from friends the steps you should follow in finding a realtor that specializes in investment properties.  Such things as experience, the realtor actually owning investment properties, and creative financing come up on that list.  One thing that you don’t see very often is mentioning your gut instinct.

Even if the realtor is the most experienced person for the job, you may be feeling something about them that is not quite right.  For example, tonight we visited a realtor that we have dealt with in the past to purchase some investment properties under a joint venture partnership.  We had good experiences with him last summer, so we thought we would deal with him again.  Well, things change in a year.

I had a feeling of uncertainty talking to him.  He seemed more interested in talking to my other partner (who lives out of town and is providing the funding) as opposed to talking to me (the guy who was going to do the ground work).  We also gave the realtor a price range of what we were looking at and he immediately told us that you cannot find properties like that here in Saskatoon.  A quick check of the website was all it took for us to find properties in our price range.

At our meeting tonight, he was also giving us some information that was inaccurate.  A good test of anyone that is supposed to be giving you advice is to test them: ask them a question you know the answer and see if they give you the right one.  Too many wrong answers could lead to bad advice (costing you money), and that is not what you pay them for.

In conclusion, do you due diligence.  Even though the realtor may meet all your criteria, don’t forget to listen to your gut. If something just doesn’t feel right there probably is a problem.  Don’t forget that there are many realtors out there – find one that fits your situation.

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One Response to “Listen to your gut – Picking a Realtor”

  1. I have an investment rule, if you can explain that gut feeling, it is important.

    It’s nice to see similar thinking.

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