? - To use a realtor or not

I have heard both sides, and I believe Carol Stinson never use's a Realtor , and she does her assignments right from her house.I personally might use one the first time or so, until I actually see the process and feel more comfortable.
Not sure if that help you but hope it gives you an idea on it.

Good Luck
Curtis Fillers
(Charlotte,N.C.)

The Realtors Fee or commission, is paid for by the Seller, if it is a Sellers Agent you have involved. No out of pocket cost to you. You make your money off the buyer.

(A to B)(B to C) You are A. You find the buyer, B. Assign the interst in the contract that you have established from B to C. Walk with your check!

I understand the gist of it, but in order to get my realtor more interested than just sending me expired listings, I'll have to give her an idea of the fee.

Some don't understand assignments and might not want to be bothered that you don't have money but want to find people who do

Some do understand but might not want to be bothered that you don't have money but want to find people who do. Plus if you've never done it before, there's the risk of you wasting their time.

Some just don't want to be bothered if you're not the person buying the property.

I'm sure you can accomplish this with or without one.

if you have a problem doing assignments, you might consider using your LLC to put the property under contract, then sell your LLC to your end buyer. if you're using a realtor, it sounds like you are looking at REO's and the banks pretty much are not allowing assignments. just another thought....

doing assignments. Just figuring everything out as I go - trying to make my way to that first deal. My first assignment will have an end cash buyer. I'm not considering REO's.

The main reason anyone needs the help of a realtor, is to either have mls access or have then help you with getting comps, which is what you need for every deal. You just need to find a investor friendly realtor. You wouldn't think it would matter what the realtor knows what you you're going to do with the property. I mean, you could purchase it yourself, or pass it on to your business partner. But, you need to disclose what you're about so a deal won't blow up in your face.

aiellosdream:

Agent can be an incredible asset to your team. A good working relationship, that is mutually beneficial. Bottom line, they want to sell, pass go and collect $200 - lol! If you're not closing deals, they'll quit playing eventually. Just like us, they want to make money too, and truly up until a property closes, they are working for free. So just like everyone, they don't want their time wasted and want to channel it in the most productive area.

Their fee will be paid by the seller. Unless they are the listing & buyers agent their commission will be split. So far nothing different right.

Besides as Dallas (thishousebuyer) stated the access to the mls being incredibly beneficial, to ME even more so is the leverage of their time. Have them shifting through properties, funneling you what fits your criteria, having them submitting multiple offers, etc.

Best wishes and keep us posted!

God bless,
Jen

Duncan,

I had a challenge with several agents in the beginning with me trying to over explain something. I learned quickly the K.I.S.S. method. A confused mind says 'No'. If you have a strong buyers list and are confident you can turn it and not waste the agents efforts and time, tell them you may or may not be the buyer to go to close. I found that after I had closed a deal with them it was MUCH easier to gain their trust and have them submitting mass offers. If your submitting through them on the 25/1 you will use the standard purchase agreement approved by your state/county, etc. as well as your multiple listing service (your agent will provide). To assign this contract after the 'Buyer' you indicate your purchasing name or entity then and/or assisns. IEE is an alternative to assignment when your end buyer is pulling funds from a traditional lender. The bank will require their client to be listed as the buyer on the contract to close the loan. (I close on an IEE deal Friday 29th but no agent involved). Similar to an assignment but just with more paperwork and the complete deal is transparent to all parties involved. Simply put: Cash buyer = assignment, Traditional Funding = IEE. OR you can just double close it.

I find it is easier to assign FSBO. Alot more flexibility, LESS earnest money and have been able to extend a contract on the occassion I needed to. I have assigned listed properties, but am finding more competition and some buyers even closing cash above listing prices which will make it alittle more challenging to assign. So I personally have tweaked my MLS strategy a bit to keep things moving.

But hey, I'm not in GA. LOL If you are having success with MLS and assignment, I say GO FOR IT!!!

God bless,
Jen

After the realtor gets an offer accepted you create the one page Assignment of Contract with you fee on it and take it to your closing agent, ie. Escrow, title co. or attorney for the closing. The realtor doesn't get involved with the assignment.

I suggest using a Realtor even to Realtor students in the program. Mainly because you'll need someone you can shift some of the workload to. Such as finding listings in the first place, doing initial searches of your criteria, comps, etc. This is especially true when you get to the point of putting out 10-20 offers per week. This kind of volume may get a bit overwhelming if you're doing the whole thing yourself.

Wish You Well!