I've had ENOUGH!! - Posted by Tyler

Re: I’ve had ENOUGH!! - Posted by Rob FL

Posted by Rob FL on April 01, 1999 at 20:37:17:

The board of realtors is a private organization. Although it could lead to disciplinary action, you would need to deal with the state licensing board to really put a hurting on them.

Re: I’ve had ENOUGH!! - Posted by David S

Posted by David S on April 01, 1999 at 21:14:43:

not so Kellie…if you signed a contract with me, I would assure you that I would have the right to access the property, prior to closing, for numerous reasons. I could list dozens.

David S

Re: I’ve had ENOUGH!! - Posted by David S

Posted by David S on April 01, 1999 at 21:16:03:

get a small sign of your own; “under contract” or “sale pending”.

David S

Re: I’ve had ENOUGH!! - Posted by Carol

Posted by Carol on April 01, 1999 at 17:41:49:

This is why it’s best to have a broker in your corner if you are going to do MLS deals. THEY can get the key, have the lock box combination, etc, and you won’t need to bother the listing broker!

If you have a broker who does ‘your deals’ they can run this kind of interference for you.

I assume your contract specifies and/or assigns ? Point that out to the broker if need be and get Sandy’s pit-bull atty!

Good luck
Carol

Get Realtor E-Mail - Posted by Jim

Posted by Jim on April 02, 1999 at 09:05:19:

When using Realtors to make “All Cash”/Discounted offers, the immediate perception from Realtors is that they will not make as much money from the purchase. Well, that perception is true. However, once the property is repaired, you will relist the property with them meaning they will make money twice on the same deal (purchase/sale). This strategy has helped us in obtaining future information including other MLS listings, comparables, showings, etc.

The more money you help a Realtor make, the harder they will work for you. This is essential for all investors from beginners to advanced.

Eventually, when you find the Realtors that will work for you on a consistent basis, you can begin to SLOWLY train them to make CREATIVE offers.

There are 855 Realtors in my area. We have all of their names, addresses, phone, and most importantly E-MAIL. It is very efficient to broadcast your goals to every Realtor through e-mail. This includes finding and marketing.

Jim

Re: Use Realtors to buy Ugly Houses - - Not Creative Deals - Posted by D.Henderson

Posted by D.Henderson on April 02, 1999 at 07:38:08:

I have learned the same thing with RE agents. The one I WAS using, kept telling me it couldn’t be done. I was and am new to creative RE so I didn’t know who I could believe her or all of YOU! I stepped back looked at things, decided that she was working both sides against the middle (texas talk for working what was best for her) She no longer is my agent. I only looked at ugly houses because of the price and people would deal better. I think what bothered her was seeing her commision going down as I dealt with the buyers.
Oh, well, someone else will get my business.
Freedom through Creative Real Estate!
D.Henderson-Texas

Re: Work with Realtors…Don’t work with Realtors…HUH!? - Posted by Laure

Posted by Laure on April 02, 1999 at 05:12:39:

Most of the “deals” I get through realtors are before they even hit the MLS. Agent gets a listing, calls me, I make an offer and buy before it even hits the computer. But these are the leaders of the pack, and they are far and few between.

Laure :slight_smile:

Re: I’ve had ENOUGH!! - Posted by Kellie

Posted by Kellie on April 01, 1999 at 21:22:22:

I can also think of a bunch of reasons I’d want to get in (starting with I need to measure for curtains all the way up to the present scenario of ‘I want to sell it ASAP’), but how do you get access without having someone with a key let you in? I’m not being a smart a-- here, I mean, can you get them to give you a key just because you’ve got a contract? Don’t you have to have the agent or someone let you in, and if so, doesn’t that go back to the question of how to go about splaining to Lucy, the agent, why you’re turning the house over so soon?

Re: I’ve had ENOUGH!! - Posted by Tyler

Posted by Tyler on April 02, 1999 at 01:21:37:

Can the agent/broker balk at this? Isn’t this their responsibility?

Re: Get Realtor E-Mail - Posted by sandy fl

Posted by sandy fl on April 02, 1999 at 09:12:22:

How do you get their email addresses? Through realtor.com?
That must have taken forever to compile those?

Sandy

Re: Use Realtors to buy Ugly Houses - - Not Creative Deals - Posted by Cathryn

Posted by Cathryn on April 02, 1999 at 08:28:26:

I think that something many people forget is that with the exception of that relatively new breed of agent, the “buyer’s” agent, all real estate agents work for the seller. By law, they have a fiduciary (legal) responsibility to work in the best interests of the seller, even if you contacted them and asked them to find houses for you, even if they seem to be your “buddy.” That doesn’t mean they should do anything illegal or underhanded…it does mean that you should always keep their motivation in mind. Don’t say anything to them you don’t want the seller to know…they are OBLIGATED to pass it along! Remember, remember…they don’t work for you…they work for the seller.

Q4 Laure - Posted by Adam

Posted by Adam on April 02, 1999 at 13:01:33:

Laure,

So how much are you paying the realtor to give you the

referal before they list it, or are they getting paid

by the sellers ?

Thanks

Re: I’ve had ENOUGH!! - Posted by Craig_NOLA

Posted by Craig_NOLA on April 01, 1999 at 22:30:57:

Kellie,

You stipulate in your purchase contract that you are entitled to a key for the purpose of showing partners, inspectors, lenders, prospective tenants, etc., etc. once the property is vacated. Also, if the property is currently occupied, you stipulate that you are entitled to access by giving the the seller and/or occupant notice.

I make no secret of the fact that I’m an investor; the seller knows that I’m going to fix-up and resell, rent, or something. I’ve almost never had a seller balk at giving me a key when the property was vacant or make it difficult to access if still occupied.

Lastly, it is absolutely none of the agent’s business what you plan on doing with the property. And again, if they know you are an investor, they know that you have 100 legitimate reasons for easy acccess to the property.

Hope this helps.

Craig

Re: I’ve had ENOUGH!! - Posted by David S

Posted by David S on April 02, 1999 at 18:44:54:

it’s none of the agent’s business what you do after you have a contract with the seller.
YOU have ZERO responsibility to the agent. His contract is between the Broker (agency) and the seller.

I’m not suggesting you break any laws, just get creative… it’s only a sign.

David S

Re: Get Realtor E-Mail - Posted by Jim

Posted by Jim on April 02, 1999 at 09:43:11:

3 Choices:

  1. Do them by hand - It may seem time consuming, and it is. But, it is well worth it. Visit individual Realtor web sites, national web sites, etc. Once you get the list, you always have it. The only thing you must do is get the new Realtors e-mail every so often.

  2. Obtain them from the Board. Some are now selling the information just as they do when you buy the labels to do mass mailings.

  3. Buy software programs, like the ones that come through this board, and extract e-mails. Costs $350 for a good one.

Jim

Not so… - Posted by Tyler

Posted by Tyler on April 02, 1999 at 19:59:03:

Actually the agent has a fiduciary responsibility to both parties. If you tell the agent something private they CANNOT tell the seller, and vice-versa. It’s far from, and in fact completely the opposite of “being obligated” to tell.

Re: I’ve had ENOUGH!! - Posted by Kellie

Posted by Kellie on April 02, 1999 at 08:20:02:

You make sense, Oh Mighty One! Thanks! I know we were smacking our foreheads when we read to include in the contract that you will attend meetings with the seller, not just your realtor. It’s “put it in the contract, Stupid!” (PIITCS- hey, it’s not a catchy acronym, but it’s MINE!)

Thank you - Posted by Tyler

Posted by Tyler on April 02, 1999 at 01:19:13:

This is what I was looking for. I didn’t think of putting that IN the contract. It makes very good sense, and it’s exactly the solution I needed.

I’ll remember this NEXTtime…

Thanks CREbies!

Re: I’ve had ENOUGH!! - Posted by David S

Posted by David S on April 01, 1999 at 23:04:11:

good post Craig.

the contract is with the seller. whatever you negotiate is key and has nothing to do with the agent.

David S

Re: Not so… - Posted by Rob FL

Posted by Rob FL on April 03, 1999 at 07:20:45:

Not to sound critical of you, but being an RE broker, I can tell you that we do NOT have a fiduciary relationship with both parties.

A seller’s agent represents the seller and a buyer’s agent represents the buyer. If I represent the seller who is asking 100K for his house and the buyer offers 90K but says I will go up to 100K if necessary, I have a fiduciary relationship with the seller ONLY and would have to BY LAW tell the seller that the buyer will go up to 100K.

The agency relationship you are describing, where there is a fiduciary relationship with both parties, is called a dual agent. In most states this is highly illegal.