OfflineI dont have a realtor,or end buyer lists or anything yet!!I am pursuing these,but this realtor had an ad on CL that he paid a 1000$ referral fee.I contacted him and he wants to meet.He said his own capital is tied up in RE until the market goes up a bit in order to sell.I explained that i come across properties below market value and am looking for interested investors to assign them to for instant equity profit and/or positive monthly cashflow.Now would it be adviseable to use him to find my end buyer,and collect 1000 dollars and my reassignment fee,or would I be better off finding an investors to act on these deals??I was thinking i could also use him for comps and stuff too if we work together.He said it doesnt matter to much about the location or type of property as long as its a deal.Any suggestions?????PLEASE HELP!!!!Thanx every1.......to your success.......Darthwader
Question about a realtor I am about to meet!!!!
Posted on: Wed, 04/22/2009 - 22:24
Question about a realtor I am about to meet!!!!
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- by wadepanchishin
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Wade, It is all about getting paid! Run with it, Make sure to get an
disclosure?
Thank-you "Webster's"
Randy
2birds---1stone
"Your actions; Always count"
P.S.Most of all...Thank-you team Graziosi!
Be careful, I don't think the agent can legally pay a referal fee to anyone except another licensed agent. You might want to check that out first.
Good luck, 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
Al is right about REA's can not void the disclosure they have with you,
As your REA!
It is a professional thing! But we are programed to get the deals.
Run with it...Just keep our hands in your pockets! So you do not lose
any money?
Thanks AL.
Randy
P.S. I just realized my family is my greatest strenght! It is not they are
against me, I just never asked if they wanted to BARM!
2for1---?
I agree with Al. I guess it also depends on the state that you are in. But at least in Oregon, I know that a agent can't give you money unless you are a real estate agent as well.
thanks for the advice,I havent even gotten the books yet, they should be here any day.Moving a bit fast but reading all the posts have givin me alot of confidence.!!!lolol just really motivated.I will make sure I can collect a comissison legally from him then, thanks for the warning Al.....To your success,Wade P.S. I live in B.C. Canada so laws might work a little different.Thats what im trying to figure out right now..Not to many people from Canada that are on this site to work with law wise. But like i said i havent even got the books,lol.You people are inspiring and this is an incredible site!! Wade
If I set up an assignment what would stop an investor to let my contract run out then go back to my seller offer a little more money and cut me out of deal.Can Someone please help. Thank you Michael. I just finished the book its great.
If you are the one locking up the contract, the $1000 isn't a whole lot for your efforts. Shoot for $5000. I have a house under contract for $77500 and I contacted an end buyer and told him I would like 10% of the sale price. He had no problem with it.
Bruce
im a texas realtor and we are only allowed by law to give $50 referral fee in the form of a gift certificate to non licensed agents
"Saying I can't or I will is a world of difference that will set you a world apart" (ME) Edwin L.
"Where there is a will there is a way" God
"Knowledge is only potential power, taking ACTION it is the real measure of intelligence" unknown
"True insanity is doing the same thing over and over and expecting different results" Einstein
im a texas realtor and we are only allowed by law to give $50 referral fee in the form of a gift certificate to non licensed agents
"Saying I can't or I will is a world of difference that will set you a world apart" (ME) Edwin L.
"Where there is a will there is a way" God
"Knowledge is only potential power, taking ACTION it is the real measure of intelligence" unknown
"True insanity is doing the same thing over and over and expecting different results" Einstein
a realtor can contribute or basically giving up part his or her commission towards the closing if you are purchasing a property thru closing but cant not flat out give you cash or check.... but laws change from state to state
"Saying I can't or I will is a world of difference that will set you a world apart" (ME) Edwin L.
"Where there is a will there is a way" God
"Knowledge is only potential power, taking ACTION it is the real measure of intelligence" unknown
"True insanity is doing the same thing over and over and expecting different results" Einstein
Hello DG Family
I am so nervous in getting started ...
I want to take the Re-assigning approach but I'm having a hard time finding investors.. My local town paper doesnt have any so where else can I look?
It”s exciting and challenging at the same time. I really enjoy being in business for myself.
Correct, in Texas, $50 is the max referral fee unless the recipient is a Principal (basically the buyer or seller) in the transaction.
Agreed! Nice find .. Good stuff! Realtors are helpful, but always use a real estate attorney for a real estate contract!
Florida Closing Cost