Maduro 0 Report post Posted September 14, 2009 Hi, need a little help as I don't know what to do when I'm in contact with an agent instead of the owner. Well, I emailed a FSBO ad on craigslist asking if they would be open to selling it on a rent to own basis and also told them that I will take care of the entire transaction professionally for the owner at my expense to protect his/her rights in the deal. An agent responded with, "Can you please give me more information so I can pass it onto the seller?" I guess my "?" is, should I explain what I do to the agent so she can pass it on to the seller or is she picking my brain?...how shall I respond back? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted September 14, 2009 What should you do? Move on and deal directly with homeowners. Adding an Agent to the mix, especially when starting out, mucks up the deal. Share this post Link to post Share on other sites
Maduro 0 Report post Posted September 14, 2009 Thanks MC. Share this post Link to post Share on other sites
jhanson8 0 Report post Posted September 15, 2009 I'd also respond that the agent is possibly in violation of her real estate license. All states require that an agent fully disclose the agency relationship. If this agent is advertising on CL under a FSBO, and this isn't the agent's personal property, then the agent can be fined and/or get the license suspended. I know three agents here in my own county that had their licenses revoked for repeated violations of this law this year alone. Share this post Link to post Share on other sites
caboarder2001 0 Report post Posted September 29, 2009 Adding onto this conversation of agents. I was out scoping out the city block that I want to hit with door to door flyers tomorrow and I noticed quite a few real estate agent for sale signs. Can you call the agents and ask them if the seller would consider a lease option? And if they do, and the seller agrees, then what do you do with the agents commission? Or can I call them and tell them that if they are within a couple of days of the listing expire that they can call me and if I work a deal with the seller, then I will give the agent $500 or $1000 cash or something? Or would doing all this just offend the agent? Share this post Link to post Share on other sites
Jason (AL) 1 Report post Posted September 29, 2009 Adding onto this conversation of agents. I was out scoping out the city block that I want to hit with door to door flyers tomorrow and I noticed quite a few real estate agent for sale signs. Can you call the agents and ask them if the seller would consider a lease option?Nah.Agents will scoff, shoot down, or just not even mention anything creative (although it's a simple solution, it's not conventional).Also, they want their commission, and they're used to getting it through a conventional sale (buyer gets bank financing).I don't even mention any creative/non-conventional solutions to agents, either 1. they get crossed-eyed and confused, or 2. they'll take my suggestion and create the deal themselves. No need to confuse and/or load them up with knowledge...eitherof which you won't get paid. And if they do, and the seller agrees, then what do you do with the agents commission? Or can I call them and tell them that if they are within a couple of days of the listing expire that they can call me and if I work a deal with the seller, then I will give the agent $500 or $1000 cash or something? Or would doing all this just offend the agent?First of all, if a house is listed, I just pass and wait for the listing to expire.99.9% of all agents complicate creative real estate deals.If an agent had a house tied up for 6 months or longer, and it didn't sell this means they didn't do their job...which wasto get the house sold. If they didn't do their job, then they get nothing. There's no point in giving them anything if they couldn't sell the house. Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted September 29, 2009 You could ask the agent if the seller would be interested in renting the house to you. Or you could work with agents who actually list rentals. But you'll have to find a way to get to the owner so you can turn it into a lease option. I've had agents tell me they do rentals but will not present rent to own...I was like: "Wha...?" Don't argue, don't educate, just carry on. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted September 29, 2009 Corey, my same advice applies: since you are just starting out, keep things simple and deal direct with the homeowner. Adding an Agent to the mix will definitely make things more difficult. Along the way you'll meet an Agent or two who will be investor friendly and helpful. But until then, I'd avoid complicating matters. Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted September 29, 2009 Along the way you'll meet an Agent or two who will be investor friendly and helpful.Still waiting... Share this post Link to post Share on other sites