It’s like jabbing a hot fire poker in my side when I see a Realtor trying to play an Investors role when they don’t have a clue! Arrgh!
For example, I found a property that has 4 bedrooms, 2 baths, and a 1 car garage with 1666 sqft in the Pikes Peak Park area of Colorado Springs. Because of the neighborhood, a seasoned investor would know that the house will only afford 120k – 130k tops no matter what time of year.
Don’t get me wrong, I don’t mind other people making money with Real Estate, there are plenty of houses out there. My beef with this deal is that the Realtor playing Investor paid 10k too much for the house, spent a minimum of 20k to fix the place up, and is now asking 10k too much for the property. It’s listed at 139k when they should know that they will only get 130k TOPS! I almost feel bad for the person (ALMOST), but it burns my butt that the Realtor works with the listing company and they so happen to outbid all the other investors AND will only end up breaking even AT BEST!
Realtors: Do your job and be a Realtor.
Investors: Do your job and be an Investor.
Don’t mix and match, it just messes up the comps and makes us mad.
Hi Lynda,
Not all Realtors are incompetent Investors or Idiots.
As with any business, there are obviously individuals who are more successful than others in either of these roles (Realtor or Investor).
But…I also know several folks personally who are very successful and competent in both roles…
You are right. I know a few who are successful at each and at both. It is just frustrating! Thanks for sharing…