Posted by John Merchant on May 11, 2007 at 09:17:18:
BTI is dead right here.
While your REA might want you to think you must go through him/her, as a non-licensee (if you have no written contract with your REA) you have NO legal obligation to do so and can knock on any door, talk to any seller or other REA just as you choose…you can do most anything you want to make contact with a seller, even if your only knowledge about a property is from an agent’s signage in front of the house.
Your REA could not do this as he/she must go through the listing agent and he/she has no such right to just call or knock on the door of the seller…if the MLS listing says any REA wanting to show the house must call the listing agent first, his/failure to do so might cost him/her a hefty fine or license suspension or worse.
Now, of course, if you do learn about a house for sale from such a sign, and know the house is listed with some REA, and you were then to do a purchase of it, the seller would owe the REA a commission.
And beating the REA out of his commission is not something you want to participate (collaborate?) in, as when (not if, but when) that REA learns you did buy it and he didn’t get paid, he’ll SUE YOU along with that dishonest seller.
I just cant find an agent anymore that will call me up when they see something fitting my criteria. I dont know if its the slow market and they are keeping deals for themselves or what. I was just interested in a property on Monday. It was the exact thing I tell my agent every week that I want to see. Leave him a message inquiring about it and get a call back saying “oh I was already in that property a couple weeks ago, needs lots of work but I think there is an accepted offer on it now”. I wonder if he knows who made the offer, hmm.
Don’t be shy. I assuming your not licensed, so just call the listing agent direct from the for sale sign and find out the status, he/she might be your next agent.
I personally favor just knocking on the sellers door and asking. If there is an accepted offer, just give them your investor biz card and ask them to give you a call if the unexpected happens and the sale doesn’t go through.
Posted by GregMc - TX on May 10, 2007 at 10:27:06:
I had the same problem and got frustrated with my agent so I found a new agent. Most agents have several investors they are already working with.
I went to a local college that offers real estate courses. I talked to the instructor and got the names of several students who just received their license. I started working with one and it’s been great. I’m her only investor.