OfflineIf I contact Real Estate Offices, like via fax, or possibly contact every individual real estate agent, via email, in town, lol not likely but that can be an option to find loads of buyers, and I tell them that I wholesale properties and if they send me buyer leads who are preaproved then or have cash or who are waiting because prices are "too high" and are looking to buy, and ask them to possibly get the criteria of what that buyer lead wants then I will let them basically be my seller agent and I will pay them 3% for each final sale price I close with whatever buyer they sent to me, at closing. So they would get the buyers comission and a sellers commision. The full 6%.
Say i find a home valued at 180K and get it under contract for 120K I then would IEE or Assign it for 140k to that buyer. So the buyer would be getting a 180K house for 140K which is a good deal to mostly anyone.
so i would make $20,000 subtract 3% of $120,000 which = $4200 subtract closing costs-ATLEAST $10,000!!!!!!!!!
Corpus Christi, Tx
Can a real estate agent take money from you for a commission if you are not a real estate agent?
Yeah I wasnt really thinking lol. To do this the legal way you would just have to offer to be the sellers agent and they would get the extra 3% sellers commision. So they would get their buyers 3% commision plus the sellers (aka you) 3% commision. There is a big motivation from them if they are getting for example, $6000 commision instead of $3000.
Corpus Christi, Tx
Thank you
Ironton, Ohio
You can sign a buyers agent agreement which will make the agent your agent. Then you can pay that agent whatever you agree on. You have two types of agents, one listing agent and the other is the selling agent. Its common for the buyer to pay their own commission.
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Charlotte Wholesale Properties
Thank you for the advice. I'm going to put it into great use. I already typed up my letter and I got a few agents e-mail addresses and fax numbers and I'm ready to go.