I Want to Invest in Real Estate. Is it Okay to Work with More than One Agent?
Most real estate investors have considered using more than one agent, or perhaps have even used more than one agent, to search for investment property. The reasoning is that the more people you have searching for you, the better your investment opportunities. This logic certainly makes sense. However, is this really a good idea?
Some agents and investors will argue that most agents can sense if a buyer is working with other agents and that this affects their search efforts. Since investors are taught in their real estate ethics courses not to take the clients of other agents, it’s likely that they’ll back off from clients who are using the services of other agents too. Plus, it’s just natural for an agent to become less motivated with clients that don’t seem fully committed to the client-agent relationship.
There are exceptions to this, of course. For example, if you’re searching for investments in multiple areas, it’s not only okay, but wise to use more than one agent. Agents have better knowledge and experience in locations where they know the area and the inventory and you obviously want the agent that offer the most expertise. However, even in these situations, it’s a good idea to let your agents know that you’re working with more than one agent so that there is no overlap of services or information.
So what do you think? Care to weight in? Please feel free to join us and let us know what you think. The Estateya Community would love to hear from you.