940: Crucial Questions to Ask an Agent and How to Negotiate Commissions w/James Dainard

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 22 April 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Everyone knows how to find a real estate agent. But an investor-friendly agent—one who will find deals for you, run the numbers, hook you up with contractors, and help you get funding—isn’t the same as your neighborhood agent down the street. These agents have connections that can help skyrocket a new real estate investor’s portfolio and bring them deals that no one else knows about. So, how do you find these diamond-in-the-rough real estate agents? You need to ask THESE questions. To help you vet your future investor-friendly real estate agent is James Dainard. James is a flipper, wholesaler, broker, investor, and lender in the Seattle, Washington, area. He’s been buying and selling houses for two decades and does more deals in one month than most investors do in years! He’s here to guide any investor through finding an investor-friendly agent, the crucial questions you MUST ask at the start, his number one tip for finding the best agents in an area, and how agents can set themselves apart from the competition. But that’s not all. With the latest agent commission lawsuits, more buyers are aware that commissions are negotiable. So, whether you’re looking to get a steal on your next deal or want a first-class buying and selling experience, James walks through how you may now be able to negotiate what commission you want to give an agent, depending on what matters most to you. In This Episode We Cover: The best place to find a real estate agent (for investors!) Questions you MUST ask any “investor-friendly” agent BEFORE you use them The services that expert-level agents provide that’ll help you build wealth faster Negotiating agent commissions and how the recent NAR lawsuit could change the agent landscape How to make sure that your agent knows what they’re talking about when they bring you deals And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Join BiggerPockets for FREE Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Expand Your Investing Knowledge With the BiggerPockets Books Be a Guest on the BiggerPockets Podcast Ask David Your Real Estate Investing Question Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's X/Twitter Rob's YouTube Henry's BiggerPockets Profile Henry's Instagram BiggerPockets' Instagram 5 Ways to Find an Investor-Friendly Real Estate Agent Connect with James: James' BiggerPockets Profile James' Instagram Broker Website James' YouTube (00:00) Intro (00:52) Regular vs. Investor-Friendly Agents (04:21) Services to Look For (08:47) How to Find the Right Agent (13:50) #1 Tip to Try (17:04) Questions to Ask Your Agent (19:36) Elite Agents Have This (25:22) Negotiating Commissions Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-940 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the BiggerPockets Real Estate Podcast.
0:03.0	I'm your host Rob Abisolo joined by my good buddy Henry Washington.
0:06.6	Hello good buddy, how you doing?
0:08.1	I'm doing great.
0:09.1	Thank you so much.
0:10.1	I'm very glad to be here and we've had some shakeups in the real estate industry lately
0:14.0	especially around agent commissions changing and I think it's left a lot of
0:18.1	investors wondering what does a good real estate agent even look like?
0:21.6	How do I find real estate agents that meet my needs and what
0:26.0	the heck am I supposed to pay them?
0:27.6	Yeah, it's a big one and today we're going to be talking with James Daynard about how to find
0:32.3	and work with an agent who can help you meet
0:34.4	your goals as a real estate investor.
0:36.5	We're going to talk about things like how to find an agent that is suited for investors,
0:40.3	questions you should ask a potential agent to make sure they're the right fit for you
0:44.0	and how to negotiate a commission rate with an agent and what type of services should they be providing
0:48.7	at those different commission structures. So let's get into it.
0:51.6	And with that we would like to welcome James Dainard to the show.
0:56.0	For those of you who don't know, James Dainard is one of the co-hosts,
1:00.0	along with myself of the BiggerPockets on the Market Podcast, where we talk about current events
1:06.1	within the industry and how they are impacting or not impacting real estate investors.
1:12.4	But James Standard is also a licensed agent,
	...

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