Getting agents to help with deals - Posted by Paul O'Prey


#1

Posted by Brad Crouch on December 16, 1998 at 04:24:24:

Justin,

There it is again! Rob mentioned lease options and you say “lease purchase”. I know that everybody seems to believe that these two terms are interchangeable, but I don’t see it that way at all. In fact, I see a BIG difference.

Lease option is a unilateral agreement where the seller is obligated to sell but the buyer is NOT obligated to buy.

Lease Purchase is a bilateral agreement where the seller is obligated to sell and the buyer is OBLIGATED to buy, at some point.

If you really mean “Lease Purchase”, then you cannot disagree with Rob as he is talking about something entirely different. Apples and Oranges.

A Lease Purchase would result in the realtor® receiving their full commission (sooner or later). Rob was talking about Lease Options where the realtor® may never see any commission from an actual “sale”.

I realize that the term “Lease Purchase” might be easier for a seller to swallow, since he has the impression that the buyer will actually HAVE to buy.

It’s real hard for me to accept that the interchangeable use of these two terms are anything other than a “slick” misrepresentation of the actual facts.

Now . . . with these two terms in mind, what is the “exact” status of the 4 “lease purchase” properties that you have on the market right now?

Just curious . . . nothing against you personally Justin, I’m just a little tired of seeing these terms used as meaning the same thing, when they clearly mean different things. At least to me.

Thanks,

Brad


#2

Getting agents to help with deals - Posted by Paul O’Prey

Posted by Paul O’Prey on December 08, 1998 at 23:51:32:

I am just getting started in the REI business and have seen various posts on this great site talking about getting agents to help you find deals. I am very interested in Lease/options.

Why would agents help me find lease/option deals if they are foregoing a 3-4% commission on the sale of the property if they sold it in the traditional manner, if it was listed with him or her?

What sort of carrots do you offer an agent to get him or her to help you find lease option deals? What have you pros done to get this valuable assistance?

Your help and ideas will be much appreciated.

Thank you in advance

Paul


#3

Re: Getting agents to help with deals - Posted by Justin

Posted by Justin on December 11, 1998 at 17:34:45:

I’ve got to disagree with Rob on this one, I’m an agent in central Fl. and I’ve got 4 lease purchase properties on the market right now. E-mail me… Justin


#4

Re: Getting agents to help with deals - Posted by Rob FL

Posted by Rob FL on December 09, 1998 at 20:01:55:

If you are looking for L/O’s than you probably shouldn’t be working with an agent. Find a “tired landlord”. I just got Joe Kaiser’s course and that is the first tip.