OfflineIf you have a realtor that gets comps for you on a FSBO, and this is not your team realtor, how do you compensate that realtor for helping you out if it goes to closing? And is there an agreement or is it just verbal? Has anyone done this before using a random realtor? (I'm still trying to get a good one on my team).
Shirley
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Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
Shirley,
Since you are shopping for a real estate agent still, I would simply consider it a helping hand. I don't think they would expect anything. It ony takes thema few minutes-- if you feel like you need to compensate them, ask for some business cards and pass them out to retail buyers or people needing a SS you maybe cannot help. If you feel you'd like to do more, give him/her a Starbucks card or something.
One thing you can do (at least here we can) is meet with a marketing person at a title company-- they are very willing to help, and they can do comps for you! They don't mind at all.
-- Keep it up!
Tina
Never, Never, Never Quit, N3Q
"Nothing happens until you place an offer."
"Skip Deal #1, go straight to Deal #2; it's so much easier."
"There is nothing so useless as doing efficiently that which should not be done at all." — Peter F. Drucker... so, "Don't sweat the small stuff." -R.Carlson. "The greatest mistake you can make in life is to be continually fearing you will make one."~E.Hubbard, The Note Book, 1927...so, Do it for the right reason and "Do it with a headache!" - Dean Graziosi, Weekly Wisdom #176
That's a great idea to go through a title company. I'll have to check that out. Yeah, I'm having a problem finding a good REA. I talked with one yesterday and explained to him what an "investor friendly" REA does and he seemed excited to be able to help me. He was not with K/W or Remax though. I thought I'd just try another one to see if it would work! He was supposed to get me 35 listings like I'm looking for and send me cash sales in the last 90 days. So far, I have received nothing from him! Don't know what that's about.. Maybe he just hasn't had time. At any rate, I'll give him another day or two and if I don't hear anything from him, I'll move on. I'm also talking to one in another county that seems to be receptive to what I need.
Shirley
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
Shirley,
Another thing I've done is simply call on signs or listings on the web...
Just call or answer that your're interested in the prop. When they call you back, give em your schpeel. Remember to keep it simple... you're a cash buyer that does Buy/Fix/Flips and you're just beginning to invest in this area (makes em think you're invested in other areas) and you're looking for a buyer's agent (not an investor friendly REA)... if they say they have several or a few investor clients, ask them if they are landlords or flippers (rehabbers), and waht area they see flippers making $25-$30K per deal in.
No talk of contingencies, exit strategies, or POFs... they'll take you as seasoned and either talk the talk or not. You'll know right away.
Something else to try.
--Tina
Never, Never, Never Quit, N3Q
"Nothing happens until you place an offer."
"Skip Deal #1, go straight to Deal #2; it's so much easier."
"There is nothing so useless as doing efficiently that which should not be done at all." — Peter F. Drucker... so, "Don't sweat the small stuff." -R.Carlson. "The greatest mistake you can make in life is to be continually fearing you will make one."~E.Hubbard, The Note Book, 1927...so, Do it for the right reason and "Do it with a headache!" - Dean Graziosi, Weekly Wisdom #176