Re: Is This Agent Trying to Pull a Fast One? - Posted by Anne_ND
Posted by Anne_ND on September 15, 2004 at 08:42:44:
I’ve successfully used real estate agents as both seller and buyer. Good for you for reading the docs so thoroughly- so many people do not.
If you want to work with this person, just amend the docs as you prefer before you sign them (initial your changes) and send them back.
For instance, I only sign docs with an agent for one specific property at a time. And if you want them to take a percentage, not a fixed amount, then put that in there too.
Good agents have to work as hard on the a cheap property as an expensive one (maybe harder!), yet their compensation is dependent upon the price. It seems reasonable to me that they’d want to be paid for their time.
I’ve recently bought two properties through the most successful agent in our city. In each case his compensation was less than $200 based on the percentages. I think he enjoys working with a fellow investor and he knows I’ll do more deals with him. Also our deals tend to have lots of problems with them- title problems or other issues- and he knows I’ll do all the legwork, he just gets his check in the mail when we close.
I think the best agents for an investor tend to be the smart new ones who are hungry or the smart and succesful ones who don’t need the money.