Investors and Agents share some beliefs but fundamentally, they have different mindsets. Combined with both skillset and mindset can be a valuable tool. It has been known, that investors when dealing with real estate agents can be difficult, but a necessary part of the buying process. Agents have full access to the Multiple Listing Service (MLS), which shows all properties for sale in any given area. They will also have more detailed knowledge about properties, sellers and trends. This can all be very valuable information to the sharp investor. There are agents that invest and investors that have gotten their lisence to gain the benefits of access to the MLS and CMA.

When you don't have the 2 mindsets, you'll have to learn to appreciate what each other brings to the table. The hardest part about working with an agent might well be putting together a deal. Agents typically work with home buyers in conventional deals that seek to live in the property purchased. Agents prefer deals that consist of a standard down payment, a good credit score and getting a commission with little hassle. For the most past, they are not receptive to unusual offers and do not pursue creative real estate transactions. It is not likely that agents will even consider a "nothing down" offer.

For agents, the bottom line is sales and commission. They are also very much a relationship-based business enterprise. Building an open and honest working relationship with an agent up front can pay dividends later on when it comes time to close the deal.

Below are a few more tips that can help you navigate the potentially choppy waters of dealing with real estate agents:

Be serious in offering earnest money. When all the details are agreed to, the seller will be asked to provide up front monies as a guarantee of completing the deal. Agents typically ask for at least $500 or $1,000 in earnest money. Don't expect to be taken seriously with an offer less than that. Depending on the sale price, you can expect to pay at least $1000 as earnest money to get an agent's attention. If you are presenting a solid cash offer for the property, consider putting even more upfront to make sure that the agent knows you are a serious buyer. A promissory note can also be used if you are concerned with losing your earnest money.

Offer a quick closing date. Another way to get an agent to take you seriously is to offer a fast closing. The agent will pick up their commission at the closing date, so nothing will motivate them more than a quick payday. This can also be helpful if agent and seller are weighing multiple offers. An agent might well be quick to advise their client to accept an offer that involves more earnest money and faster close if the offer prices are comparable.
Present creative offers to seller and agent directly. As stated above, many real estate agents are only comfortable with conventional deals. If you present your creative offer to the agent only, it may not be presented to the seller with the same zeal. The only way to ensure that the owner will hear all the great benefits of your offer is to insist on presenting it to them in person.

Be mindful of commission. Real estate agents are in business to make money just like the rest of us. If you can give them an incentive to make money out of the transaction, you will get their cooperation. An agent's fee will be based on a percentage of the sale price. Make sure to get this nailed down early in the process. If your offer which does not meet an agent's commission, then why would they cooperate with you? If you present a lease/option offer on a listed property, how will the agent receive a commission? You must make sure that they deal includes payment for the agent even if it comes out of your own pocket.

Do your homework. Beware of overzealous agents if they come on too strong or if they are adamant about what a great deal you are getting on a property. If it is such a great deal, then why isn't the property sold already? Don't just accept their word. You can look up all of the pertinent MLS information that is available, but understand that this information was entered by the listing broker and/or agent. It may be exaggerated. Ask for a report of recent comparable sales in the area. This information is not listed on the MLS, but real estate agents have access to it. You could ask the agent to provide the information or even check the property listing for yourself at your local County Auditors Office. If a comparable sales show the same square footage as the house you are looking at, take a drive by and see if it is accurate. Do your own assessment of value and see if it matches the listed price.

Agree to preliminary offers before wasting your time filling out a full contract. Most agents are not overly formal for this part of the process and will take any offer in writing to the seller. Simply summarize your offer in writing and fax it to the listing agent. Once you have an oral approval, then it is OK to take the time to fill out a contract and an earnest money check. NEVER put up earnest money until the offer is accepted in writing by the agent and seller!

It is always better if you can build a good working relationship with all the players in your deal, specifically the agent and seller. However, we all know that business does not operate in a perfect world. If you cannot build a solid relationship with an agent for some reason, don't be afraid to take a firm position on what you expect out of the deal. Like in any business, some agents are unethical and will refuse to present your offer if it doesn't meet their own needs. If you feel that an agent is not cooperating with you, don't be afraid to go directly to the listing broker or even the seller, if necessary.