OfflineOk, just a quick thought here is the idea. I just wanted to know if I'm way out off line with this thinking.
Rather than having one agent making offers on REO's etc. would it not be better to have a few doing this. One, to find more killer deals. And two, the seller/agent would see multiple offers, possible on the same properties at such low prices below FMV that they might be more inclined to accepted one.
I'm asking because I found an agent and we've begun making offers. I just don't know if I would be stepping out of line having another agent as well. And if you did go get another agent, would you be transparent with them and say hey, your not the only one working for me so step it up if you want to get the good deals. Create a little motivation/competition.
Thanks in advance.
I have a question. When your real estate agent finds you these killer deals and you do the no money down strategy, how does the agent make money. If you get a killer deal 50% below market value does the agent still make comission on the sale if you come in and put it under contract and find the buyer. I have an interview with an agent and I want to let them know whats in it for them. I am just not sure about if they still get the comission for the deal.
I think you are way out of line. If you made multiple offers on the same property, with different agents, and got the property, all the agents are expecting a commission. The seller is only going to pay one. As far as creating competition, that would be simular to an agent finding properties then submitting them to multiple investors to drive up the price. I think you want to develop a strong, trusting relationship with one agent. Then you both are working in the others best interest.
Al
"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
Your agent is going to get paid for bringing a buyer to the seller. The seller is paying his commission. If you assign the contract to another buyer, the agent still gets paid by the seller.
Al
"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
tell me what is the difference between a broker and a agent and how would use the to submit the offers on the houses i see on homesteps.com And do i realy need a agent
I tried that and you can't. You sign a contract with your RE Agent stating that if someone else will bring you the deal, they are entitled to their commission and will sue you.
Yuri
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --
Some don't make you sign any agreements with them.
Jason S.
San Diego, CA.
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Thanks for the info. I'm not going to do it because I have a great agent. Just testing the waters.