We are looking to assign homes and use Matt Larson's strtegy from Dean's new book. We (wife & I) found this agent that's been in the business for 10 years and is worked with a long list of investors already. She is from Remax and sounds very qualified except that she has never done assignment of contract before. I read somewhere that is not necessary for the agent to know that but I am sure it helps alot. We are having a 2nd meeting today to plan a strategy and sign paperwork. For those of you in here that are doing this strategy, what should I make sure to see in our agent contract? I know it varies but maybe I can get some insight on what type of contract to expect with this agent. Thanks!
Martin
MARTIN
FAILURE IS NOT AN OPTION!
I WILL NOT BE POOR ANYMORE!
I have signed agent agreements in 3 states now - they are all pretty basic and just ensures to them that you will work exclusively through them so they dont do a bunch of work and then you go around them. The most important part is the understanding you have about what you are going to expect from them.This is NOT in any agreeement. Verbally make sure she knows you are going to be contacting her ALOT to look up properties, send listings, do comps, put in lowball offers, etc etc. I have been working with mine for a year now - and just last week adopted Matts 25:1 strategy. So I called her and told straight up what I was going to do and gave her an out if she wasnt comfortable with it - but happily she said she's on board with whatever I want to do. My success is her success! Awesome, right? So I put out 26 low ball offers last week and yesterday got my first deal out of the bunch! Good luck to you and keep us posted!
www.adeptpropertiesllc.com
my story:
http://www.deangraziosi.com/node/10404
Laura I saw that you made 26 offers last week and I was wondering where or how you pick your properties. I know they are everywhere but do you have a specific place you find them? Im looking on the mls and realtor.com right now. I haven't made any offers yet and I want to get started. Please let me know Thanks. Congrats on getting the one deal!
I'm in the RE field, but not as an agent anymore. It was jus becoming too much, so I went to loan mods and investing and am very happy I did. There's not much cost at all, especially compared to what you make. Recently I found a home business that is working GREAT for me, it's almost like passive income, it's not hard at all. I'm still working RE because I love it,
but just knowing that I have good money coming in even if I was to not make any money in RE for a month is very comforting.
Seems like you have alot of cost as a broker, plus the time spent away from home must be hard. Hope you get things figured out!
Florida Closing Cost
I talked to a fifth agent today and turned me down just like the others. They all have the same excuse that it will not work in PA and will not waste their time to figure it out. They are all stuck with the idea that all offers have to be in a contract in order for the listing agent to consider it. I am not going to lie that I came home and was just beat mentally. I layed on my couch not knowing what to do . I have sent a bunch of letters this week and emailed almost every broker around here. I haven't received no calls . I also went on craigslist , put up flyers and didn't get results there either. I am trying hard to stay afloat but it's hard.
MARTIN
FAILURE IS NOT AN OPTION!
I WILL NOT BE POOR ANYMORE!
we all know how difficult it can be to get rolling.
Dont just focus on this. Keep active trying every thing you can.
Birddog,abandon homes, ect.
There are so many ways to make money in REI, just keep moving and dont just focus on getting a Realtor.
I started emailing the listing agents asking if they will represent me because I'm searching for a new Realtor myself.
If the 25:1 feels hard to do, then new strategy. It's easy to get caught up on one thing, as I did too.
Jason S.
San Diego, CA.
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