OfflineHi everyone,
Let me just tell everyone what I am offering my investors and I would like everyone to post their opinion on what I should get for it.
I have a great Realtor who is not afraid to put in very low bids and show investors everything they want in properties.
I am basically setting them up with a great Realtor so I have my confidentialty agreement saying they can not work directly with anything I show them ...
Should I have in there about them working with my Realtor without me even though I trust her and she said as long as I have that agreement signed by them that she will not do business with them without me.
Also what should my fee be for everything she finds them?
See I will invest myself soon as I build enough capital but for now I want to make something for setting them up with her getting them great deals, getting paid a small fee myself and also getting her the business so she gets her commission...
I only have few minutes on library computer sorry if anyone needs or would like anymore info please let me know.
All I want to do is start making money like everyone else
Kind Regards,
John Morrison
The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself.
Therefore, all progress depends on the unreasonable man ... George Bernard Shaw
Luck Can Beat Skill Any Day ...
John Morrison Jr.
You and your agent should be careful;
It's a pretty blatant infraction of all state laws that could lead to a real estate agent losing their license to split (share) their commission with a non-licensed individual. I find it a bit scary that you have found a REALTOR who does not mind breaking state licensing laws and our REALTOR Canon of Ethics. What other corners may they bend or cut that may be for their own interest? Or will mess up everyhone involved? It is also illegal for anyone in any state to represent (find for a fee) any real property without a license ( which is very easy and relatively inexpensive to get: Get One, or use one who has one!). It's to protect all in the transaction. There are a lot of things that one learns in taking real estate licensing and designation courses that makes them a better professional to use in a deal rather than a "friend" or any other non-licensed person. Plus: If you work on another's behalf, you are taking on an enormous risk and legal obligation to them. I'd never want to do it w/o Error and Ommission Insurance! Plus...people should be sure they are getting the best person with the most knowledge to help them. We're talking big money and a lot on the line! And...if anyone thinks they'll get a better deal by not using an agent: wrong! We have great relationships with banks, lenders, title, insurance people, and we negotiate full time, every day of our lives! We're good at it and we know the people and the ropes. I'd love to prove it to anyone! : )
She is not splitting her commission, she has a license, and I am not splitting my finder fee with her nore do I plan too cause she will be getting her commission ..
I am not sure what you mean .. Maybe I said something that you misunderstood?
Anyone else ???
John
Did you just write COMMISSION SPLITTING ???
Who said that? I just re-read my post and I didn't see that. I will read it again but I am almost sure I never said that.
If I didn't would you please erase that cause everyone else my get the wrong idea after reading you reply and not want to read further ..
OR
They might just read my post and get it right the first time
.
It's ok I do that sometimes myself
JOhn
The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself.
Therefore, all progress depends on the unreasonable man ... George Bernard Shaw
Luck Can Beat Skill Any Day ...
John Morrison Jr.
My Realtor is great she has access to so much and she is very motivated and professional ...
Also, what do you mean by it's illegal to REPRESENT properties without a license?
Quote: (Ohio Person)... """ It is also illegal for anyone in any state to represent (find for a fee) any real property without a license """
Did I read that right? Are you saying it's illegal for me to go out on the street or online, see a property, and go back to my investor to tell them about it?
I live in New Jersey not the Soviet Union
If I go to the property with my investor, get out of the car and say (with my hand up like Vanna White) "HEAR IT IS" I am representing right? lol
I have my Realtor for all the paper work and she tells me I can legally collect a bird-dog fee at the close of escrow just like Dean says in books and on here. .. At least I think he did or does.
You could be right let me ask them. I will tell them what you told me and see what they say.If it is illegal thank you cause I don't want any problems.
If anyone has something to add please do so cause I want to get more into this topic, I have another important question to ask.
John
The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself.
Therefore, all progress depends on the unreasonable man ... George Bernard Shaw
Luck Can Beat Skill Any Day ...
John Morrison Jr.
Mantus,
You are working with people that carry a stamp in what they do.I am a big fan of working with real estate agents,Still it always comes down to honor!
The law is:I must own it,To show it.
I am not 1000% on contracts.
What ever you state...Be correct?
I believe when refferal happens(Bird-dog),No paper work on the end of the DEAL.
If we have no honor then we are not helping the cause of re-building the greatest country in the world.
I will not do a refferal(not to say it is wrong)because,I respect the LIC. agents of REAL ESTATE.
Can anyone say CASH or ASSIGNMENT,And there is nothing wrong giving someone a lead.
I have come a long way in my life Mantus,I do love your passion!!!
Invest in yourself!