OfflineIs there a customary fee to provide your realtor after he/she provides you with listings or do you focus on getting a deal assigned before they get paid? Is a fee even required or do they get a commission on the wholesale?
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Randall your realtor gets paid when you or your end buyer buys or sells a home, you do not pay a realtor at all
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Hey Randall,
The realtor is always getting paid by the seller. The listing agent gets half of the commission and your agent (buyer agent) gets the other half, and yes, at closing.
Thomas
Awesome feedback guys!
Thanks for the info.
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The advice above is spot on. If you are having your realtor pull comps and submit a lot of offers though and no deals have been done yet, it never hurts to show your appreciation with a $25 Starbucks gift card or some such token of appreciation. Everyone likes to feel appreciated and it will go a long way.
Karen
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What if the seller contacts u from one of your Bandit Signs, therefore, there is no seller's agent, and u are in direct communication with the buyer. What role does your agent play or is there a need for an agent if this is the case? Do u share a percentage of your assignment fee with your agent?
Randall,
I have a VERY good agent who helps me analyze the deals I pull off my bandit signs. He will help me write the contract and do the deal on the buying side because he knows he will get the listing on the back end. Because of his experience in the real estate market, he has retail buyers, flip investors and even a group he belongs to that rehab houses.
Even if your situation is different than mine, realtors will want to be involved when they see the amazing deals you are bringing to the table...deals the DG family finds that NO ONE else does, right!?
Another strategy would be this... if you want a $5K assignment, find a killer deal and get a $5,500 or $6,000 assignment fee and pass $500-1,000 along to your agent
That is exactly what I was going to ask next.
So a little kickback even after he receives his commission is always a good thing?
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Yes kick backs are good it gives your agent more incentive to help you and best of all if you have an accountant you could write it off (see your accountant to explain how)
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
Accountant!!!!!! That's next on my list after I find a contractor.I'm slowly building my team but it seems like a contractor is going to be my Achilles heel.
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It is all how you go about it..... and just remember you ate providing a service too
Watch your thoughts, for they become words.
Watch your words, for they become actions.
Watch your actions, for they become habits.
Watch your habits, for they become character.
Watch your character, for it becomes your destiny.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Our Heart's Desire must be nurtured by our mind,to give birth to common sense, that will enable us to seek out the path less traveled, with the greatest Personal Growth. -J.R.-
What if the seller contacts u from one of your Bandit Signs, therefore, there is no seller's agent, and u are in direct communication with the buyer. What role does your agent play or is there a need for an agent if this is the case? Do u share a percentage of your assignment fee with your agent?
What if the seller contacts u from one of your Bandit Signs, therefore, there is no seller's agent, and u are in direct communication with the buyer. What role does your agent play or is there a need for an agent if this is the case? Do u share a percentage of your assignment fee with your agent?
In this case you handle the deal yourself using your contracts. No realtor needs to be involved and no fees paid.
Karen
"You're never too old to be what you were meant to be!"
www.deangraziosi.com/real-estate-forums/investing-journals/59128/day-for...
"Shining Like a Star & Dancing on Sunshine"
"Shoot for the moon! Even if you fall short, you'll still land among the stars!"
Thanks Karen! What if your agent, who's been running comps and everything else, brings you the deal. Won't they be expecting their fee or do u negotiate their fee in with your fee? I'm speaking of Wholesaling of course. I still assume that when dealing with the buyer, that I use contracts on that end. No Agent Needed! Right?