OfflineHey Everyone-
Had a question. I've looked around the forum a lot and have seen similar subjects but haven't seen this answered I believe...
If researched and found a good real estate agent to work with and if use them to submit offers for me to for sale by owners like the 25:1 strategy talked about with my sole purpose of getting a lot of offers out there and assigning them in beginning...
Do you tell the agent you are going to be making a lot of competitive offers and assigning them and if not, won't they be mad that you submit a lot of offers and you back out of them until the other investors approves it or basically buys it?
If accept verbal will submit offers that have the per partner approval, per inspection, per financing approval etc....But...
I mean basically, the agent is not getting commission since I'm just using them to present offers not sell my properties, so do I mention that once I assign these i will obviously refer them to the new buyer on this property so you can sell it for him and make sales commission.
Or what other way does this work and make it appealing to them? Thanks
Thanks for the help shah.
I saw you thanked shah for their help, but I dont see a response to your post here.. Im curious how others handle this issue. If you received a private message would you mind sharing the response here?
Thanks!
Monica
Skeptic, turned hopeful, turned determined!
You will NEVER succeed if you don't try.
I actually called and talked to him. He said real estate agent doesn't mind about working with you submitting a lot of offers and not selling with you personally because when you assign contract to new buyer/investor, he is taking care of agents commission when they close.
You have to have a property under contract in order to be able to do an assignment of contract. If your agent is the agent of record representing the buyer when you place a property under contract they will remain the buyers agent and will be paid as the buyers agent if the transaction closes.
When you assign the contract to someone else they are merely taking your position, rights and obligation as per the original contract. The original contract otherwise stays the same.
Hope that makes sense.