OfflineHi everyone it's been while since I last posted here on the DG forums, even though I've learned alot about this whole thing of real estate, it still doesn't do me any good if I don't use the knowledge I gain and take action. So no matter how much I know about real etate I will always be considered a newbie until I get in the game. So I was wondering, how would my realtor (representing me) get paid from me assigning deals to other buyers? I mean how do they get their cut of the deal if I just keep passing em off to other people?
Hope you guys can help, I'm sure this is a pretty simple question to some of you, so I'm hoping for some good responses. Thanks in advance.
"Open minds backed by knowledge, wisdom, persistence, and determination equals unstoppable excellence"
- wrecklessKane
Hi Weckless,
If the property you have under contract is listed with a realtor, than the seller pays the real estate commission! By real estate law, your realtor is not allowed to submit any offers to a for-sale-by-owner.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Does the realtor get paid by seller only if its on the the offer to purchase contract (only has the sellers name and my name would be on it)? I was also wondering how to get realtors paid when assigning properties. Is there any other way around the listing realtor who doesn't even submit the offer? should I contact the seller myself to answer any questions and make the offer?
the realtor has a contract with the seller when you attempt to buy Nameand or assins what happens is you name comes off and the assigns steps in you need to make sure you have your assignment fee covered in the deal
Hope this helps
later Fred E
I think I could use a little help in finding a good realtor or agent or combination broker /agent to help me in my investing. What is the better setup- individual broker and agents or broker/agent. Who are more willing to work for Investors? I have yet to find a willing realtor/agent in my area but if I don't find one soon, how else can I find a way to purchase through an agent or realtor on an Assignment? Should I feel bad if I go directly to the owner and talk to them? I will keep looking because I know I will find someone eventually. It seems like if you don't have the agents fees in cash at close at least, then then thay don't want to talk to you. Keep in mind I don't have cash up front, I am trying to lock up properties and assign within a shorter time than avg. -2 weeks to get a buyer. They still won't go for it.
I know what you mean....when I talk to real estate agents, they think I have lost my mind...or they think what I am doing is illegal....It is very discouraging...
I'm having trouble doing this without one because I cannot find contact information about my banks on these forclosure listings. Anybody have any tips?
Queen Victoria
Queen Designer
I am new as well. Hello newbies!! I have taken one of Deans tips and sent out my letter to about 30 different RE agent offices and have not had a response yet. I am ok with that. I know that persistance is the key. All I know is that I want to get the ball rolling so I can start providing the life my family deserves. I hope all is well with everyone and I will check back often for advice. Thanks again.
Richard
Bothell, WA
Know what truely matters in life, consume yourself with that, and you shall never be disappointed, afraid, or alone. Give your gratitude always, give respect to everyone, and you shall never be anything less than what matters the most. Give praise to the Lord, forgive yourself and others, and with all of this together you will get a taste of what heavens lie ahead.
The only way to get paid while working with a realtor during an assignment deal is to either have the buyer paid you your commission and you have to have an aggreement during up with him that he will compensate you for you finding him good deals. You are acting as his birddog. The other way is doable only if you have a web-site and the agent will pay you a marketing fee for marketing the property in question on your website. You will have to have find the end buyer make the sale and get paid through the realtor which will be 3%. You have to be careful of the language you use in your agreement some state don't allow a person to be compensated for a referral. The other word you could use is buyer leads.