Not going to go into how sarcastic and rude this guy was but I am really wondering if this thing can work by just using the Realtor the properties are already listed with while I am on my search for the perfect Realtor... submit the low offers and move it right along. Id rather be writing about filling out those contracts that seem a bit challenging to conquer than, 'This Realtor thinks Im stupid' Just when I get the guts to give him an offer, he decides to tell me 'what a realtor does' Really? Glad he showed me this before we got started with anything.
Ditched my Realtor
Who is Dean Graziosi?
Are People Actually Successful?
Does Dean Practice What He Preaches?
What Deals Are The Students Doing Right Now?
marilyn
i too have had a rough time with realtors.
keep moving forward though no matter what.
rob
you could
submit your offers to the listing agent; but that means that you would have to do the work that your agent would do for you and save you time...
but nothing wrong with that; sometimes you may even get a better deal since they would not be splitting the commission, and they could give you more information about the property and the owner (whether they are motivated or not?)
Learning and progressing every day,
Valerie
realtor's purpose
At least you are talking to realtors. All the realtors I have emailed seem way too busy to even respond, "I can't work with you". Matt Larson says that having a realtor will save you from having to,as Valuni said, fill out offers and deal with phone calls. The realtor will(should) only contact you when a seller accepts an offer. If you want to go the route of submitting offers yourself, I would suggest having a pre-filled out contract on hand. That way all the seller or buyer would have to do is sign their name and initials wherever needed. This would be a good thing to do with a realtor as well. It will save the realtor the time and effort of drawing up a contract.
Just move on to another realtor if they give you problems. As user Isaiah said to one realtor,"Well there has to be someone in this business that would be willing to do some extra work to make alot of money".
Good luck!
RENinja
Thanks Ren
I met with another Realtor yesterday and he provided lots of info on what he could do. I was completely transparent as to what I wanted and expected. He suggested that instead of 'locking up' just offer to the buyers at 'our price' and get a contract b/w me and the buyer for my commission. I told him I would see...Didnt sound too bad but it DID sound like I could easily fall out of the loop without that 1st contract. Any thoughts on that? He also said he had some properties that weren't listed yet that I could offer to buyers (5 condos for $50000) and maybe make $10000 off of. Ill let you know how it goes with this one.
~Marilyn
Commision??
It almost sounds like the realtor is asking you to become a realtor. Could you explain in more detail what he suggested and the contract? What does he mean by 'our price'? If you are not locking up the property then what are you doing when you sign his contract? Do you have FULL control over the property when you sign the contract or does he and whoever else signs the contract also have interest in the property? Is he also an investor? DO NOT expose him to your buyers list until you have worked out a contract with him on those properties. I don't know his intentions, but he may be using you to get to your buyers list and other resources you have.
I hope everything works out. Don't mean to put a damper on you, but I'm concerned because I've never heard anything like that before.
RENinja
Exactly
I was wondering if it sounded a bit fishy. The way he put it No Control. Just a verbal agreement b/w the realtor and I on a low price and then offer that price to my buyer plus my fee...ALL THE SAME JUST NOT LOCKING THE PROPERTY UP. You are right, he just wants the buyers so he can sale his properties. NEXT! ;(
One more thing
Beware of realtors that offer you an exclusive representation contract. The contract states that the realtor is entitled to a commission on ALL properties that you buy and sell, listed or FSBO. This might be a good idea only if the realtor is an Allstar realtor, with great connections and will happily do everything you ask them and if your market allows you enough profit spread to factor in their commissions. Otherwise if you lock up a property and sold it to one of your buyers you would have to pay the realtor a commission for doing essentially nothing.
Hope that helps.
RENinja
Thanks
Havent been offered an ERC, but I will beware...I appreciate the info.
Marilyn
Thanks
Havent been offered an ERC, but I will beware...I appreciate the info.
Marilyn