OfflineHello DG (er's)
I was just wondering ( i feel a little overwhelmed)
How are you supposed to or may I ask how/on what terms do you cut in RE Agents ?? Any basic guidelines?
I always hear "theres never a deal til all parties get what they want??" Im currently in 30 days to Cash Profits. Did I miss something??
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"take the first step, no more no less, the rest will be revealed"
They are usually paid by the Seller. It's in the contract when a Seller signs up with a RE agency. So if you buy something from a FSBO and you re-hab it you might want to list with an agent ...then you would be paying the agent when the property sells. In the mean time if you want to work with an agent and you want them to find properties for you...they wouldn't get paid until you purchased something and again it would be the Seller paying the commission. Only if you list with them do you actually pay anything.
Most real estate agents are used to trying to list properties and/or drive people around until they hopefully find a house they want to buy. Most don't want to work with investors because they done't want to work that hard. The type of agent you want will be willing to help you find properties, comparable sales, and make a lot of offers.
Here is a big hint in landing the right agent for you-get your buyers list first. Once you have your buyers/investors, you can find the best agents and let them know that you have many investors who are anxious to buy the right house and that if they work hard and help you find the right properties, they will make a lot of money. You might share with them your goal of buying X amount of houses each year.
Remember, they represent you and will be paid by the seller when the deal closes, even if you have assigned it to one of your buyers and your buyers closes.
Good luck.