OfflineHello All,
Inadvertently I had posted this question in another forum topic.
I am very new to this, just completed reading the book 5 days ago.
Started looking at properties in the neighborhood with no clue what I am going to do next, but I kept telling myself atleast you have started taking some actions.
I have two questions
1) Why do we need realtors and what purpose do they serve. If you make a deal wouldn't they want to have their 4% to 6% commission. I have now clue how it works.
2) There are many properties on sale in my area but all the sales signs are posted by Real Estate Agents like Weichert, ReMaxx etc. Should I be talking to the real estate agent to purchase. What approach should I take in this case.
Thanks for your time.
--Bimal
Wish Everybody a great success in their Real Estate Business
You need real estate agents to put in offers for you. My advice is stay away from buyer representatives and only go through listing agents. They control the properties and if they know that they're going to get their full commission (which is paid by the seller not you) then they're more willing to make sure your offer gets accepted. If you see a house that you're interested go to the listing agent and talk to them. Hope this helps...
KimmyJ
Press on...
If I go to the Listing Agents, can I still offer 30% to 40% below FMV.
Can I still do an assignment.
Thanks in Advance...
Bimal
Wish Everybody a great success in their Real Estate Business
The listing agent will take offers to seller. You can make a low ball offer and write it to include an assignment. The seller decides if they are going to accept the offer, deny it, or counter offer.
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
There are many major advantages to having an agent to work with. The agent will most likely do a lot of work that you may find tedious, such as paperwork and things like that. They can also submit more offers than you most likely, because they have the time since it is their job. Also, if you have a good agent and respect them they can offer great advice and give you good comparable sales in the area.
Success and Nothing Less!