Working The CA With Realtors

[mbk 0]

I have a number of Realtors that are interested in working with me doing LO's with their listed properties. They do not mind waiting until and if the tenant/buyer exercises their option. My question is this....If the property is listed for say 200k and you want to add in rent credits and an option cnsideration fee, can you do that since it was listed on the MLS?

 

Thanks in advance,

Patrick

[J.D. 0]

Hi MBK,

 

Could talk a bit about how you going about getting a number of Realtors to work with you on these?

 

Is the market just that bad that they are just willing to wait?

How would that be structured?

Are they ok with just the sale or are you offering some kind of monthly incentive or part of the option payment?

 

Sorry so many questions but thanks for taking the time to respond.

 

JD

[mbk 0]

The Realtors are starving. The market has slowed and the lsitings are expiring without being sold. I simply asked the Realtors what their experience has been in re-listing sellers that they didn't sell. Their answer was "almost never". I told them instead of losing the listing and the moneyt they put into advertising, why not tell the seller that they have a close to full offer option and that it's a little out of the box but they "the seller" could do real well with no haggling over price. I would give the Realtor 20% of the option fee for bringing me the property. This way, they:

 

1. Don't lose the advertising money they put into the property.

2. Get money upfront.

3. Get a good chance at getting a full commission in a year or less.

 

 

By the way, I ONLY do CA's or Assignments.

[Dustin 0]

I would rather just ask for expired listings =).

 

Now, I would think you need to make sure your still getting paid on the principle on the deal or otherwise risk brokering without a license. Honestly though, if the agent cannot sell the home already then they are really not bringing anything to the table for you but leads. I dont know if 50% of the option is fair to you...unless of course they convince the seller for you. You will be structuring the deal with your specialized knowledge. Once the agent learns how too... bye bye leads.

[MichaelC 160]

I would rather just ask for expired listings . . .

I was going to say the same. Why not work those expired listings yourself, and simplify the deal? Having the Realtor in the mix can change the numbers dramatically. The Realtor wants his commission, which comes off the selling price. Factor in the rent credits and the option money you'll be keeping for your work, and the net selling price is down considerably. The question is whether or not the homeowner is willing to accept that price.

[-Tony- 0]

I agree with the others just give the realtor a finders fee, say = to 20% of the option not to exceed 1k.....