Negotiating through realtors instead of seller

Negotiating through realtors instead of seller

I'm new to investing...and this is my first forum post, but I've seen so many others on here get help so I figured I try it out. I am currently looking for a home for my family. We will have to do a lease purchase because of our credit and current financial situation. While doing research one night, I found movato.com and started looking for homes in the areas that I was interested in. I clicked on the "schedule a tour" button and received a call from a realtor the next day. Long story short...this realtor ended up showing me seven homes, and we're scheduled to see more this Sunday.

My question here is how do I work a lease purchase deal with both a Seller's Agent and Buyer's Agent in the middle? The realtor is not my investment realtor, but after he's put in so much work, I feel the need to make sure he gets paid, and I don't currently have a contract with any realtor for representation. How do I negotiate with a seller when other parties are involved? Do I go above both the realtor's head and try to contact the seller directly? If so, how? Am I barking up the wrong tree here? Please help.

I need to get this to work in the next 30 days if possible. I'm currently paying ridiculously high rent on a home that I will never own, and the more knowledge I gain about investing, the more miserable I am throwing my money away towards rent. I've also started working on my buyer's list and looking to do lease purchases until I am able to get bank financing.

I greatly appreciate any helpful comments.
Thanks in advance,
smcgowens

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sabrina; i am new at this,

sabrina; i am new at this, so some one else may have more insight. what i would do is explain your lease op. plan to your buyer agent and negotiate to pay him or her a separate fee. hope this helps a little.

andrew


WELL SABRINA

im a newbie too, but i want to help.

"Am I barking up the wrong tree here? Please help."

NO definitely not. you are at the right tree. LOL...... I'M SORRY i cant help you, but plenty of others will be here to help you. the calvary is coming.

walt


Thank you guys for the

Thank you guys for the feedback. I guess my concern here is that this is not my realtor of choice, nor did I interview him to represent me, so I'm curious as to what approach I take to explain to him my intentions.


sabrinamcgowens wrote:I'm

sabrinamcgowens wrote:
I'm new to investing...and this is my first forum post, but I've seen so many others on here get help so I figured I try it out. I am currently looking for a home for my family. We will have to do a lease purchase because of our credit and current financial situation. While doing research one night, I found movato.com and started looking for homes in the areas that I was interested in. I clicked on the "schedule a tour" button and received a call from a realtor the next day. Long story short...this realtor ended up showing me seven homes, and we're scheduled to see more this Sunday.

My question here is how do I work a lease purchase deal with both a Seller's Agent and Buyer's Agent in the middle? The realtor is not my investment realtor, but after he's put in so much work, I feel the need to make sure he gets paid, and I don't currently have a contract with any realtor for representation. How do I negotiate with a seller when other parties are involved? Do I go above both the realtor's head and try to contact the seller directly? If so, how? Am I barking up the wrong tree here? Please help.

I need to get this to work in the next 30 days if possible. I'm currently paying ridiculously high rent on a home that I will never own, and the more knowledge I gain about investing, the more miserable I am throwing my money away towards rent. I've also started working on my buyer's list and looking to do lease purchases until I am able to get bank financing.

I greatly appreciate any helpful comments.
Thanks in advance,
smcgowens


Any property an agent shows you, he/she is legally justified in a commission that is shared with sellers agent.

If the seller is represented, you cannot go over the agent who showed you head as the sellers agent would not allow it. to do so can risk them being sanctioned or their license being suspended or revoked

Your best bet is to find a seller with no representation; to try and screw an agent who's worked for you out of their just due is wrong.

Remember Karma


agents

If your agent was instructed to show you "lease purchase" or "lease option" properties, then the details of this lease agreement have probably been worked out between the owner and and the listing agent. Your agent can get the details and pass this info to you. You can still negotiate the terms through your agent to better fit your needs. Both agents will be compensated by the owner, so you will not need to compensate your agent. As elixbrown states, you will need to find an owner who does not have his/her property listed with an agent if you want to negotiate the deal yourself. Some listing agents will allow buyer/leasee to speak directly with the owner, and be a direct part of the negotiation, but the owner will still be obligated to pay a commission.

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"NOW GO FIND A DEAL"

Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.

Frank Outlaw


AGENTS

I am new too to investing and I would like to know if somebody can help me about which way can I go to get a GOOD AGENT.
I have been trying to get one but I don't know how to explain to them what I am
doing, in other words how do I explain to them that I am an investor, this is
one of my worse fears, and with this I am not trying to discourage anybody on
the contrary I would like help if it is possible.
Thanks in advance.......


Very simple

nana10_2009 wrote:
I am new too to investing and I would like to know if somebody can help me about which way can I go to get a GOOD AGENT.
I have been trying to get one but I don't know how to explain to them what I am
doing, in other words how do I explain to them that I am an investor, this is
one of my worse fears, and with this I am not trying to discourage anybody on
the contrary I would like help if it is possible.
Thanks in advance.......

My name is Nana, i'm looking to invest in real estate and am looking to work with an agent to assist me in finding homes for an end buyer

If you have fears about that, how do you expect to convince someone to trust you with their money??? Don't make it more serious and stressing than it really is; if you can come on here and ask total strangers on how to do it, it shouldn't be too difficult when you actually do it

Exactly how long have you been doing 'this'???


Please let me be clear, my

Please let me be clear, my main reason for posting this was to make sure that this was a "win win" for everyone involved. I wanted to make sure that the realtor who has been working with me got paid. He has been trying really hard to show us as many houses in one day that he can. I worked as a new home sales rep for a few years and know what it's like to take people around to houses and not get paid for your time in the end. I plan to talk to him and see if we can set up a fee or something to make sure he gets paid.

But if we are doing a lease option with the intent to lease for one year and then purchase, as the reltor that represented me on this sale, wouldn't he get paid his commision at that time? If I set up a fee with this realtor, should I keep that future comission in mind? In a lease option, the realtors don't get paid until we close, right?

These houses have been on the market for 90 days or more. I am purposely staying away from house listed as rent to own as I figured the only person getting a deal in that situation would be the seller. I want something that I can live in and fix up. I plan to call the for rent ads as a means to find motivated sellers. I'm still getting my marketing set up. I've recorded my buyers message but have only gotten hang ups so far. I'm looking for a personal home now while I work on my buyers list.

Any additional feedback is greatly appreciated.

smcgowens


fees

Ask your agent what the regulations are in your state that pertain to fees being paid to an agent. You may not be able to do this. As to how the agent would get paid on the sale of a lease purchase, that is determined by the agreement between the listing agent and the seller. This information should be provided to the buyers agent before an offer is made.

__________________

"NOW GO FIND A DEAL"

Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.

Frank Outlaw


Here is how it works.

sabrinamcgowens wrote:
Please let me be clear, my main reason for posting this was to make sure that this was a "win win" for everyone involved. I wanted to make sure that the realtor who has been working with me got paid. He has been trying really hard to show us as many houses in one day that he can. I worked as a new home sales rep for a few years and know what it's like to take people around to houses and not get paid for your time in the end. I plan to talk to him and see if we can set up a fee or something to make sure he gets paid.

But if we are doing a lease option with the intent to lease for one year and then purchase, as the reltor that represented me on this sale, wouldn't he get paid his commision at that time? If I set up a fee with this realtor, should I keep that future comission in mind? In a lease option, the realtors don't get paid until we close, right?

These houses have been on the market for 90 days or more. I am purposely staying away from house listed as rent to own as I figured the only person getting a deal in that situation would be the seller. I want something that I can live in and fix up. I plan to call the for rent ads as a means to find motivated sellers. I'm still getting my marketing set up. I've recorded my buyers message but have only gotten hang ups so far. I'm looking for a personal home now while I work on my buyers list.

Any additional feedback is greatly appreciated.

smcgowens


If a house is listed, a commission is normally attached.

There are instances where the house is listed and the buyers agent must get their commission from the buyer; sometimes those are more lucrative than a shared commission, but those are normally when it concerns a property not listed with MLS

Your post spoke of you going around the agent and not paying them. I'll give the benefit of the doubt if you 'mis-typed' your real intentions, but they didn't look good at all.

If you don't know what you're doing, use the realtor instead of having to use an attorney later.


Thanks. I was referring to

Thanks. I was referring to the negotiating part when I said that. Sorry if it caused any confusion. I will discuss with both the agent and an attorney before proceeding.


My Progress Journal

I don't believe it. Three buyers said they were interested in buying properties that I gave them from by list. This is going to sound crazy but have no idea what I am doing. I got them interested in rent to own or lease option. Do you believe in miracles well that's what its going to take. I haven't been this excited and scared at the same time since my first wedding. I think I offer the realtor rent to own, and then do the same for the buyer, close the deal, and faint. Remember I have never done this before, am I crazy.
Thanks for your support.
Clarion
P.S. Call 911


Dean's Weekly Videos

Hi,

Now that I'm watching Dean's videos I find that its getting clear as to the techniques used in real estate investing and that without any offers there is no deals. I like the one video where one couple(sorry I don't recall their names)or was it Gregg said just don't try to find deals but go make deals. The couple in the video emailed a banker for a REO with their terms and were surprised when the banker accepted their terms. So there you go you have to make an offer and make the deal. Am I right? Please comment.
Thanks,
Clarion


Your progress journal and Dean's weekly video

Hi Clarion,

I'm a newbie myself, and currently have 3 tenant buyers on my list for lease option with one of those buyers wanting me to sell her house as well. I myself am anxious and really clueless about how to proceed. Do I focus on getting more buyers for my buyers list, or start looking for motivated sellers for my current 3 buyers?

I may not be able to help you, but if you create your own post you may get more responses from people that give really good advice and have done this many times before.

I believe that we can do it and with work, we can be living the life of our dreams. I just started watching the new videos that Dean is sending out. I need to go back and see the other ones on her. This site has been very helpful to me, and yet I realize that I don't use it as much as I should, but I am changing that starting today.

sabrinamcgowens


what 2 say?

What exactly do i need to say or email to a realtor in order to represent me?

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