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David Tapper

DOES YOUR BROKER/REALTOR OWN REAL ESTATE?

 
 

If you are thinking of investing in real estate, would it make you feel better or more secure to know if your Realtor or Broker also went through the same process that you are about to experience?
 
When your investment banker recommends a stock, a common response is ” would you buy it for yourself? Would you tell your kids to buy it”. That’s what I always  ask!  Should it be the same in real estate?
 
I’ve been in real estate since 1998 and have had hundreds of transactions, but I don’t think I have been asked this question more than 3 or 4 times.
 
Why aren’t realtors asked questions like this more often, I wonder?  I’m not saying that a Realtor who is not a home owner/ investor cannot provide excellent advice and knowledge, I just think that it’s important that if you are relied on to give advice to someone who is investing in real estate, the largest investment in someone’s life, it may help not only in the advice giving, but having experienced the fear and the anxiety one feels going  through the process.
 
Does it matter to you, should it? Your thoughts?
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12 Responses to “DOES YOUR BROKER/REALTOR OWN REAL ESTATE?”

  1. matt@dallas real estate on March 22nd, 2011 12:15 pm

    First I was an investor and then a realtor. Second, I am and have owned several properties before my final one here. Third, I treat each and every transaction like it was my own, and I guess that is the difference between good realtors and ones in it for the quick buck. Building trust and a good reputation will get you far in this line of work.

  2. David Tapper on March 22nd, 2011 5:56 pm

    Well said, Dallas. You obviously work by referrral and repeat business like myself.

    Cheers!

    Tap

  3. David Tapper on August 25th, 2011 8:53 am

    Hi Susan,

    I’m surprised more buyers don’t ask this question. It’s not just the experience we have gained going through the process, but feeling the stress just like our clients.

    Cheers.

    Tap

  4. Peter@Drummoyne real estate agents on September 8th, 2011 5:22 pm

    I dont buy into any of it. At the end of the day they’re are only trying to make a sale and they’ll say anything to make that happen

  5. Jeff Logue of Real Estate Marketing 411 on October 18th, 2011 7:13 am

    This definitely was a key factor when I got started with real estate investing. Many agents were not trained on how to find and handle these types of properties; only standard deals.

    My partners and I hooked up with a couple key people who actually owned properties, knew what to look for, where to find them, how to negotiate, etc.

    They even made a point to network with lenders, investors and other key contacts and use marketing strategies to hunt down the best opportunities possible.

  6. Andrew@website design in Sydney on October 19th, 2011 1:05 am

    DOES YOUR BROKER/REALTOR OWN REAL ESTATE? Yes, this is good question to ask your real estate broker. This would make them ask themselves. “If I have money, would I buy this property I am selling?”

  7. Jay@House Plans on January 8th, 2012 3:57 pm

    Very good answer to ask your Realtor. I would be hesitant to use a Realtor that had not gone through the process and therefore would not know what I was experiencing. I am an architect and built my own house and I can tell my clients exactly what it is like and what to expect. I would like for my Realtor to do the same thing. And yes this question does separate the ones who are doing it as a “job” and the ones that doing it as a career.

  8. Troon Village on June 11th, 2012 11:41 am

    It definitely matters to me! My dad’s oil broker friend for example, who has been a broker for over a decade, doesn’t invest his own money in oil at all. Instead, he does it in real estate and bonds, while his realtor friends invest in oil.. Intresting to think about it.

  9. Eli@Contractor Referral on July 4th, 2012 1:55 am

    Great advice there buddy.

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