Should you ask a Realtor for help when tax sale investing? We discuss the advantages and disadvantages when it comes to Realtors and tax sales in this video!
Transcript:
Hi there! Casey Denman here with TaxSaleAcademy.com, answering your weekly question. This week’s question comes from Tammy, and she says, “I have a friend who is a realtor. Should I get her to help me when I start investing in tax sales?”
Tammy, the short answer here is no, absolutely not. Unfortunately, most realtors just don’t understand tax sale investing and exactly how it works. And I mean this with the utmost respect to all realtors. As a matter of fact, I’m a realtor myself. I’ve been a licensed broker for over a decade now so I certainly understand that side of the business. Realtors work for commissions, and the last time I checked, the government is not paying any commissions on tax sale properties.
What you can do however, Tammy, is take advantage of your realtor friend’s knowledge of the market, knowledge how to do a comparable sales analysis and knowledge how to research stuff. A lot of realtors do research when they go to listing presentations or they’re trying to figure comparable values. And certainly, your realtor friend should be able to teach you how to compare properties and how to get values and what information that you should and should not be able to look up and what websites you can go to.
But as far as the act of tax sale investing, the actual act of investing your money in a tax sale property for a return, you need to leave that up to professionals. Do not let a realtor teach you how to do this because like I said, they typically don’t understand tax sale investing. So leave it up to a professional.
So Tammy, I hope this has answered your question. If you need to follow up or if anybody else has any questions about tax sale investing, go ahead and click on the link at the bottom of this page. It will take you to my website at TaxSaleAcademy.com where you can submit your question and it’s very possible you’ll get a video response just like this one. Have a great day, folks! Take care. Bye-bye.