Here is how to “boot out” the agent! - Posted by Jim FL
Posted by Jim FL on September 26, 2003 at 20:00:22:
The subject line was more to get a rise out of good ol Ed Copp, sorry.
I agree, to “boot out” an agent is a bad idea, and not ethical.
However, many times agents, brokers, etc get in the way.
There very well might be something we can do to help out a number of sellers, but due to the advice, guidance or input from agents and brokers, they don’t deal with us.
I just watched a local home goto foreclosure where the seller called me one year ago.
I would have bought, but it was listed, and the agent advised the seller to “keep the listing active”.
I’m not sure if there was room in the deal for me and the agent, because when I hear a property is listed, when a seller calls me, I tell them, “we don’t buy listed property.”
Rather than tell a seller after you have gathered info, and determined it is a deal, and cutting the agent out, just do as I suggest.
When sellers call, you don’t buy listed property.
I tell them this, and if they want to know more, basically, I tell them how I buy houses.
"One of two ways, either all cash, for a SEVERE discount, or on terms, meaning we take over your payments."
If they feel this is an option, when they are no longer listed, they are invited to call back.
Motivated sellers have often cancelled listing agreements, then sold to me.
All on their own, as it should be.
That is how I “boot out” the agent, before they have a role in my deal.
If a property is brought to my attention thru an agent or brokers efforts, or they play a role in the deal, then yes, they get paid.
Not very often does this happen, since most of deals come from my own marketing though.
So, as Ed said, don’t “Boot out” the agent if they are already involved, it would not be right.
Good luck, sorry this was kind of long, allergy meds are working wonders…