Real Estate Agents: Do They Have Time For You
Joe Mack
I am fairly lucky investor to have a very good seasoned broker who does spend time with me. I recently have been looking in far away areas to invest in and had to look for another agent.
When approaching a new market the first thing I like to do is call Realtor signs to test out a couple of agents and go from there. Usually this is a decent way to find an agent to start looking. Typically I would get a response in a few days a most, but now the time frame is just ridiculous. I think out of ten agents one responded within twenty-four hours.
I sat down with my agent to find out why most of the agents do not respond back. she basically told me that she spends all of her time getting the bank owned properties ready to list like most the agents out there. The bank not only require initial setup time but reoccurring time and continuing updates on all their properties. Every agent out there has such a large inventory and are beginning to hire more help to stay to just stay on top.
A Realtor I know with the help of her assistant has over fifty listed bank owned properties listed. That number would be a lot if you worked in a large office, but no she is the only agent in her office. She told me that almost all of her time is just on preparing and maintaining these properties for the banks. When I was there she was on the phone with a temp agency trying to hire a couple of more people just to catch up.
All of the real estate offices around me just keep on getting more listings from the banks every week. If they could at least sell a few here there that wouldn't be bad. If they are lucky they can sell a couple in a month at most.
In today's market real estate agents have their work cut out for them. The banks in some areas are moving their prices down. Those agents are lucky and will actually make money this year. The areas where the banks will not move their prices down will have to keep working harder and harder. I'm curious if they can last with more and more work piling up and barely selling anything. If they can make it there is money to be made having a large quantity of listings, but you have to still pay your bills a matter what.
The heard of real estate agents is starting to thin in many areas. The amount of work without getting anything in return is hard on anyone. It will bring to light all of the hard working and dedicated agents out there.
The day that the banks start moving their prices down real estate agents face's will be filled with smiles. Finally that huge inventory of homes they list will start moving and money will start flowing back into their pockets again.
I would not blame the realtors to much if you are trying to put offers in. They are stuck between you and the banks. Just keep on trying and if you are intent someone will give you the time of day. I am not trying to say all realtors do not call you back. I'm really just saying that they are very busy and have no time.
http://www.CraneInvestmentsOnline.com/) Real Estate Investing Is an excellent way to plan for the future!!
http://www.CraneInvestmentsOnline.com/) Magnificent Real Estate Investing Tips Inside!! There is ALWAYS money to be made in Real Estate Investing
