Getting an exclusive with a CA

[kah5683 0]

Hello everyone:

 

I spoke with Michael about this topic and understand his thoughts on this. We are looking for a commitment from our Seller to us and our methods. Not a 6 month commitment, but about 3 months (I go with the 3rd 1st of month going out from this date, or September 1st for today). Using Michael's methods also for looking for tenants, we can handle either or both ends for our seller...why do they need anyone else?

 

I've sent off about 10 proposals this last week or so, and for those that have been interested, the topic of exclusivity came up. They wanted to continue marketing on their own because they needed someone in there paying something right away. They needed to continue with an agent and the mls for the exposure. They are trying to get as much as they can going to move their house, which is understandable. I give them the typical responses about how well this works, how quick it can be, an example where how in the past it did not work well working with a seller and them still being listed. I came back with a tenant/buyer and the seller told the agent, and the agent said they were bringing someone by, so the seller told me to wait. After a few days, the t/b went elsewhere, and the agent didn't have a serious buyer. Another example is where I had a t/b for a place and they searched the property online and saw a different price with an agent, which killed the deal.

 

I'm just trying to figure how best to handle this. Is this just a "next" scenario - find someone else? Is this something where I should have confidence in my abilities and just get a t/b first before whatever else they are doing pans out? Should I just add a cancellation fee, and if so, how much?

 

I just wanted to get everyone's thoughts on this topic. Getting back on the horse after a little absence, I'm still trying to feel my way around.

 

Thanks for all input!

 

Kevin

[Jason (AL) 1]

I never deal with a seller that has a house that's still listed.

However, if it's been sitting on the MLS with no action, I'm sure nothing will

change (in the near future)...whether you sign the deal up or not.

Besides, offering a rent to own or owner financed sale will move the house a LOT faster

than what an agent can do traditionally.

So I wouldn't worry about that aspect. Just make sure they're not expecting some sort of fee

for doing nothing should you be the one to sell it.

I've personally had a small handful of deals that I've moved in weeks, where as it was

previously listed for months, and sometimes a year or longer with an agent or FSBO.

 

Sticking a sign in the yard and placing the house in a sea of countless other

MLS-listed houses can't really compete with what we can do with our creative

methods.

[kah5683 0]

Thanks Jason for your input.

 

It's not just those listed with agent and on MLS but also those who want to continue marketing on their own. I'm getting both sides.

[Jason (AL) 1]

Same still applies.

 

If they could have sold it themselves, they would

have by now.

A non-exclusive agreement isn't going to hurt anything.

[Guest jvmccall]

I agree with Jason. I let people continue to sell their house all the time. It is one of the main reasons I can convince so many sellers to go with me. I tell them, "What do you have to lose? You have no risk! If you sell the house before I do, that's great! You owe me nothing."

 

However, I will also not work with someone who already has a listed house on the MLS. Not worth the hassle. I WILL let someone list a house on the MLS AFTER I already have an agreement with them. I tell them I love the competition and love proving to Realtors that I can sell houses faster than them.

[MichaelC 160]

Kev, I know you and I have discussed this previously, but let me chime in again here anyway.

First, the advice you've already received is pretty much my thinking, too. But I also want to say that ultimately it comes down to you remaining in control. If the homeowner begins to make all sorts of demands on restrictions, it comes down to asking yourself if this is someone you want to work with. If so, go full speed ahead and chances are you'll win the race most times. After all, the average homeowner can't compete with the likes of a well armed Naked Investor!