Posted by DARLA on December 08, 1998 at 08:29:30:
Cudos NM! I agree! But remember “Nothing worth wile is free”! DARLA
Another point of view REALTOR - Posted by C Bostic
Posted by C Bostic on December 05, 1998 at 08:12:39:
Let me first start off by saying I am a full time Buyer Agent in the expensive Northern Va area. I have read CS’s,Dell Dotto’s,and Ed Beckly’s material and for the most part I think it works. I know this because I am working on owning my fourth home with no money as a result. Although it does not make me a millionaire yet, it does give novices another point of view.
The pupose of this post is to help you get a professional help {a REALTOR} to do most of the work for you. However you have to do it correctly because time is all we as REALTORS have. Time after time I meet nice folks that have
no money, bad credit,no one to cosign,don’t have or can’t get anything to give the seller in exchange for a down payment and or closing cost and expect us to part the Red Sea and machine gun 20 offers at a time for 50 cents on the dollar.
Well, I know the average agent doing any significant business will not be able to help unless he or she can see something in it for them. Either referral business or cash.
True we have to submit all offers,however most agents know
from experience what will fly and what won’t.
If you write an offer , I would try and keep it simple, becuase if you are the only one that understands it
it is usless.
If your Agent thinks that you are working with 10 diffrent agents they will drop you. Better if you are not satisfied with their service just tell them and move on.
Finnally, you need to find an Agent that is familiar with what it is you are trying to do. If they balk at you move on.
Good Luck
Re: Another point of view REALTOR - Posted by Gary Huron
Posted by Gary Huron on December 05, 1998 at 23:58:48:
As a REALTOR, my success is with volume. I try to either list or write an offer atleast every week. Just like any other business, I have business expenses and my wife would like to see me bring home checks that more than cover our monthly expenses. I don’t have the time to waste on an offer that will comsume my time and I don’t have to.
What I will do is call a meeting between the buyer and the seller, negotiate an accepted offer if one can be agreed to, write it up on my states approved forms (I can use no other, it’s the law)and have it executed. That way we can all get on with our lives. Time is too valuable to me, the seller and I know it is to the buyer expecially if he is an investor.
When I am responsable to sell someone’s home, I take control. When I work with investors, we do it my way which is best for the seller and very fare to the investor (buyer).
I am glad to be of help.
Good investing.
Gary
something you said! - Posted by PBoone
Posted by PBoone on December 05, 1998 at 10:54:35:
We do not work with buyers agents in our area because they want all or nothing so we give them nothing. We purchased 30 properties in 1998.
the one comment you stated “Most agents know what will fly and what wont” that is the attitude we stay away from because you have no idea which offer is going to be accepted unless you are the seller, so if you want to work with investors that perform on a long term basis open your mind to possibilities.
Pat
Re: You All Missed The Point OF MY POST - Posted by Gary Huron
Posted by Gary Huron on December 08, 1998 at 24:43:48:
Re-read paragraph two.
I call a meeting between the buyer and the seller. They talk face to face and work out a contract. I don’t. I just write up what they tell me to write.
When we get to that part of the meeting, they (seller and buyer) have verbally worked out the details instead of going back and forth with counter offer after counter offer.
If it’s a straight forward offer or nothing that needs much explaining on my part, there is no need for the face to face meeting with the buyer and seller. Maybe a counter offer or two on either side but that is just to iron out a few details.
When the offers become complicated, a personal meeting with the two parties is always the best. Who can explain an offer better than the buyer himself. Once every detail is worked out between the two, I write it up so that everyone involved with the transaction understands what is being done. It is my job to write the contract so everyone involved knows how to execute it.
I take control. I don’t play the counter offer after counter offer game. Too much time is wasted when either side cannot come to an agreement but the buyer wants the property and the seller wants to sell it. I like to have them get face to face and work it out in person with each other. Saves time.
If the offer is straight forward or the buyer is not asking for anything that would make a seller pitch the offer in the waste can, which I have seen them do,
there is no need for a personal meeting.
I do quite well in my business, I am an investor, I work with investors and I have an exellent referral business. I love working with new investors. I started out as an investor and got very tired of REALTORs not representing buyers and sellers properly.
One last comment. You mention that you are a REALTOR on this web site and without even know anything about you,
your comments become miss understood because you must be wrong, you are that nasty person, horns growing out of your head, have no feelings toward human life, lower than pond scum, (you all may add to this if I missed something) REALTOR! I do have a sense of humor.
Glad I could be of help.
Good investing,
Gary
Re: Another point of view REALTOR - Posted by Richard J
Posted by Richard J on December 06, 1998 at 19:25:15:
Whew! I’m am a complete novice in RS investing but I have to say that even a person as un-informed as I am can see how much damage an agent like you can cause. You do a large injustice to the sellers you work for by attempting to make their decisions for them. Give people the benefit of the doubt, we are not all as dumb as you might think. One of your sellers might take a creative offer YOU might have rejected outright. Take the advice of the people who have responded to you and change your attitude!
Richard
Re: Another point of view REALTOR - Posted by Tom Brown
Posted by Tom Brown on December 06, 1998 at 16:49:15:
First thing that you need is an attitude adjustment. If you actually try to do business like that, you will never be a success, regardless of the field you are in.
Second, if you continue to do business with that attitude, you should triple your E&O coverage. You are going to need it.
Attitudes like yours are exactly what gives agents a bad name.
You should read and heed JPiper’s post.
Re: Another point of view REALTOR - Posted by JPiper
Posted by JPiper on December 06, 1998 at 14:50:35:
A few comments regarding certain elements of your post:
? I don’t have the time to waste on an offer that will comsume my time and I don’t have to.?
My guess would be that the Statutes concerning licensing activities in your state DO NOT provide exceptions based on how much time you ?waste? on an offer. You DO have to present all offers and this is regardless of how much time you ?waste?.
??write it up on my states approved forms (I can use no other, it’s the law)and have it executed.?
You are required to present all offers, regardless of the contract form. You can always recommend to the seller that he not accept the offer because of certain aspects of the contract form (I would recommend that you not sabotage an offer purposely just because it is not on your approved form since this may have legal consequences to you), but if I want to make my offer on a table napkin you are required to present it. What may be true in your state and others is that YOU may not write up offers for the parties on forms that are not state or board approved, or approved by your firm?s legal counsel. But there is no legal requirement as to the particular type of form that I make an offer on, and that I give to you. The only requirement is that you present it.
?When I am responsable to sell someone’s home, I take control. When I work with investors, we do it my way which is best for the seller and very fare to the investor (buyer).?
I am especially concerned about this comment. It might be well for you to reconsider your function in ANY transaction. You are not a party to the transaction?..you are NOT a principal. Rather you are the agent. Your job as the agent is to represent the principal in a fiduciary capacity. This does not mean taking control or deciding on your own what is best for the seller or any party that you represent. Your job is present the facts to the principal, and give them suggestions as to courses of action that they have open to them, along with the consequences of those courses of action. But you are NOT there to make decisions, take control, or ?do it my way?. YOU ARE NOT ON THE DEED. You?re just the agent.
JPiper
Re: Another point of view REALTOR - Posted by JohnBoy
Posted by JohnBoy on December 06, 1998 at 13:33:23:
“What I will do is call a meeting between the buyer and the seller, negotiate an accepted offer if one can be agreed to, write it up on my states approved forms (I can use no other, it’s the law)and have it executed.”
Are you saying its a law that a realtor has to use your state approved form, or that anyone writing up a purchase contract in your state has to use your state approved form? What state are you in?
Re: You All Missed The Point OF MY POST - Posted by Tom Brown
Posted by Tom Brown on December 08, 1998 at 16:02:22:
You should reread your post. It made you sound like a jerk. It’s really hard to judge anything that is posted here except to take whatever is written at face value. I guess it’s a good thing that we don’t make our money as writers, huh?
I agree with your way of doing business except for one thing, you would never write an offer for me. I write all my own offers on my own contracts. I will hardly ever use a Board contract.(It’s a matter of principle with me. )
Sorry, if I misunderstood.
Good Luck,
Tom
Realtors have a bad reputation among investors for a very good reason. Most of them are totally useless from an investor’s point of view, unless you can find one who is open to a little education. Which is rare.
The one exception would be Realtors that handle commercial properties almost exclusively. Usually they are more knowledgable regarding “creative” techniques because the majority of these techniques have been used in commercial circles for years.
Re: You All Missed The Point OF MY POST - Posted by DARLA
Posted by DARLA on December 08, 1998 at 08:25:58:
Hi GARY, Good response! I will be contacting you when I need help. You did say you like to work with beginners in this business, right? DARLA
Re: Another point of view REALTOR - Posted by Gary Huron
Posted by Gary Huron on December 08, 1998 at 01:01:33:
My attitude is just fine.
I do quite well in my field and have always been very successful when dealing with people. The people I work with (buyers & sellers that includes investors) like the way I operate. I am a REALTOR and a person that people enjoy working with and I enjoy working with people.
You do not know me so you have no right to judge me.
Nough said! Let’s get back to the subject of investing not your personal feelings about me.
Good investing,
Gary
Re: Another point of view REALTOR - Posted by Bobby
Posted by Bobby on December 06, 1998 at 17:00:43:
AMEN! (DNO)
Re: Another point of view REALTOR - Posted by napoleon moulder
Posted by napoleon moulder on December 08, 1998 at 02:09:33:
i agree. let’s get down to business.
let’s not fight. let’s offer up suggestions that lead to a positive outcome, for this is the way to disagree or to agree…win win. if one is not a party to the solution, he contributes to the problem. let’s all win together.
i’m looking to win as a first time investor. i’ve
purchased and read carlton sheets, william mccorkle and the likeness. i’ve also purchased a couple of properties. i’m looking to do more. i’m still a neophyte.
i’m hoping that this is a forum where people help people for the sake of goodness, not a place that exalts who does it better and fight amongst themselves. i would love to have a pro-phyte/veteran to coach me through my next few no money down, money making deals via e-mail and without hitting me up for money upon each corner we turn throughout the deal.
i hope this forum exemplifies old-fashion values that makes us all great together…together we stand and divided we fall.
here is to you,
nm