? How to offer through realtor - Posted by Angie in KCMO


#1

Posted by DanM(OR) on January 14, 1999 at 12:53:44:

Could you possibly have a buyer’s broker contract with them that has a negotiated % commission for each closed deal?

Just an idea!

Good Luck,

Dan


#2

? How to offer through realtor - Posted by Angie in KCMO

Posted by Angie in KCMO on January 14, 1999 at 12:04:06:

I spent some time on the phone, and got a couple of realtors to “bird-dog” houses for me. They know I’m an investor, and that I plan to “low-ball” with my offers. My question is: do I sign a real sales contract? Can I still do an option to buy through a realtor? We’re just flipping, so we don’t plan to ever hold the title. How do we accomplish this legally (paperwork and all) while working with a realtor? MarkR in KCMO, your thoughts are particularly appreciated, since I know you’re in KC too!

Thanks so much for your help!
Angie


#3

Re: ? How to offer through realtor - Posted by Mark R in KCMO

Posted by Mark R in KCMO on January 14, 1999 at 15:12:27:

Angie,

It’s good to know that there are more and more investors here in Kansas City MO!! Welcome!!

I submitt an offer on a offer form, I don’t remember who’s it was orignially.

If the realtor insists on using thier contract I don’t have a problem with it.

I personally have not found much success through working with realtors. I mainly look for rehab properties and I am trying to educate some brokers what I am looking for.

My Friends who deal in Rentals have fairly good success working with realtor.

Hope this helps Feel free to e-mail me with any questions that you may have.

Mark R in KCMO


#4

Re: ? How to offer through realtor - Posted by Jim IL

Posted by Jim IL on January 14, 1999 at 13:14:26:

I am currently attempting to do “flips” my self, and have a couple of realtors who give me properties to look over. I have no “buyers contract” with them, but they act as a “Buyers agent” with me, because I contacted them first. I will pay them nothing. they will get commission from the seller, as per the listing agreement. If the property is not listed with them, and is only MLS, then they get half of the commission and the Sellers listing agent gets the other half. I’ve found that by getting deasl done, quickly, and efficiently, this is enough incentive to have them keep bgringing me properties.
Why should I pay them, when the seller will.
I do however have them both under an “understanding” that they may take their commission in notes (over time) if that is what it takes to close a deal. I haven’t had to do this yet, since frankly, my “flipping” gives tyhe seller enough cash to pay all costs.
In the beginning, I simply presented an image of a seasoned investor, with nice letterhead, my own contracts, and a knowledge and attitude that if the deal did not go my way, I’d simply move on to the next one. This seemed to convince them that they could bring me deals, and I’d get them a commission.
Both have agreed that by “low balling” offers, the commission on one deal may be smaller, but the sale would be quick, with many to follow. I told them my criteria, and then said "Isn’t 10 small commission quickly, better than one large commission every couple months?"
What do you think they answered.
Well, I’m off now to close yet another deal brought to me by these agents.
I hope you can do the same.