Learning and Burning 11 Report post Posted February 20, 2013 Another day another scenario. Through my emails i came accross a realtor/investor who's house he's trying to rent. Got him interested in me finding him a tenant/buyer. Now his question is how doe's he pay me? I want to find him a t/b and be out of the deal. In order for this to happen what would i need to have him sign? and what would i call his fee to me? He is ready to work with me on this one but needs to make sure he's not doing something that will jepordize his license. As i want to do the same....W Share this post Link to post Share on other sites
Learning and Burning 11 Report post Posted February 20, 2013 Want to cover my @$$. Not worth the grief, and want to let him know i know what im talking about...... Thanks Share this post Link to post Share on other sites
MichaelC 160 Report post Posted February 21, 2013 First, ask him what he has in mind. Will it be worth your time and effort? If so, unless the REPs* are watching you shouldn't be too concerned. Call it a Finders Fee, spell out the details, and both of you sign it. *Real Estate Police Share this post Link to post Share on other sites
Learning and Burning 11 Report post Posted February 21, 2013 He is open to suggestions. He mentioned how would i get paid because he can not give me a refferral fee. I suggested a finders fee, and he said he would look into it to make sure we are both on the up and up... I have t/b's and would like to see if i could find a fit then be out of the deal. The R.E.P is his concern and mine to a point as i just have to cover myself and not get greif......Details... I bring you Mr t/b. he agrees to the deal and realtor pays me my finders fee of $1,000,000 or half of the option money. Which ever is less.. I think that would be fair.. So a finders fee is what i will call it and all is good? Share this post Link to post Share on other sites
<Steve> 82 Report post Posted February 21, 2013 I would take the $1,000,000. finders fee. sorry, just had to throw in my 2cents. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted February 21, 2013 So a finders fee is what i will call it and all is good?It would work for me, but the Agent will need to make that call. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted February 21, 2013 I would take the $1,000,000. finders fee. sorry, just had to throw in my 2cents. Share this post Link to post Share on other sites
pilot76180 51 Report post Posted February 21, 2013 Hey ALL!Unless I'm missing something, it doesn't matter if he's an agent.you assign your contract, and you get your fee. the seller doesn't pay you anything. I've worked with a number of sellers that were agents. Share this post Link to post Share on other sites
pilot76180 51 Report post Posted February 21, 2013 If you are saying this is the REaltor for an investor and the Realtor is trying to rent it, then that's easy as well. You sign with the investor, then you assign your contract, get your fee, and pay the agent 1/2 month or whatever or let the owner pay the agent 1/2 month or whatever they worked out. Share this post Link to post Share on other sites