OfflineI found a real estate investor who would pay me finder fees but I think he wants me to negotiate the deals. I'm hesitated to call him because we wants me to do what broker's and rel estate agents do. What should I do?
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I'm not sure how to approach this
Posted on: Thu, 10/02/2008 - 00:14
There are two levels of finding properties and getting paid for it. A finder's fee (usually only a token sum $500-1500) would be received if the investor boutght a property you told him about but did no negotiation.
The assignment of contract process is where you negotiate the sale with the seller and get a signed purchase contract with the seller which is then assigned to another investor. You would typically get a 2-3% assignment fee.
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You may need to voice what you will and will NOT do, cause you shouldn't have to negotiate the deal, if your "birdogging" i would just tell him how far your willing to take the deal(pretty much just finding it) and if he would still like to hire you FINE, if NOT that's FINE too, move on.
YOUR HERO, SULLY
If you're not comfortable negotiating the deal then move on. But I would think about it, that's where you make the most money by negotiating the deal and assigning it. But do what you feel is best for you.
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."