morganREI 0 Report post Posted August 6, 2008 1. How can you team up with an agent and would they have to be a broker for it to work? 2. How would the agent get paid, many talk about " xyz fees" but can they accept fees as an agent without violating RE guidelines? 3. What could they legally charge and what would the charge be for? 4. And if they were just an agent, how do their brokers get paid? 5. What are the pitfalls of this type of relationship? thx morgan Share this post Link to post Share on other sites
MichaelC 160 Report post Posted August 7, 2008 1. How can you team up with an agent and would they have to be a broker for it to work?Of course you can work with an Agent and, no, they needn't be a broker to work with you. But they will probably need to check with their Broker to proceed. That's pretty much the standard Agent/Broker relationship.2. How would the agent get paid, many talk about " xyz fees" but can they accept fees as an agent without violating RE guidelines?How they get paid is open to discussion and negotiation. Every deal is different. 3. What could they legally charge and what would the charge be for?I imagine they can charge whatever you are willing to pay them. 4. And if they were just an agent, how do their brokers get paid?That's between Agent and Broker. 5. What are the pitfalls of this type of relationship?Done correctly, none. Don't be signing any restictive, long term agreements, for example. Find an Agent who mirrors your personality and goals and you have yourself a valuable ally. Share this post Link to post Share on other sites
happyardy 0 Report post Posted August 9, 2008 1. How can you team up with an agent and would they have to be a broker for it to work?Of course you can work with an Agent and, no, they needn't be a broker to work with you. But they will probably need to check with their Broker to proceed. That's pretty much the standard Agent/Broker relationship.2. How would the agent get paid, many talk about " xyz fees" but can they accept fees as an agent without violating RE guidelines?How they get paid is open to discussion and negotiation. Every deal is different. 3. What could they legally charge and what would the charge be for?I imagine they can charge whatever you are willing to pay them. 4. And if they were just an agent, how do their brokers get paid?That's between Agent and Broker. 5. What are the pitfalls of this type of relationship?Done correctly, none. Don't be signing any restictive, long term agreements, for example. Find an Agent who mirrors your personality and goals and you have yourself a valuable ally. I am almost done with my real estate licensing requirements here in ON. I have one last exam(Phase 3) in Sept. and then I am done. I'm hoping to be the source for any "investor-realtor" related questions; atleast pertaining to Ontario, Canada. If I wouldnt know the answers, I'll find them out at my brokerage and let you know. - RD Share this post Link to post Share on other sites
MichaelC 160 Report post Posted August 9, 2008 Hello, Ardy. Good to hear from you again. Hope all is well with you, and you become Ontario's biggest and best investor-Realtor. . .just don't accept any offers from Doug without a hefty upfront deposit. . .cash only Share this post Link to post Share on other sites
happyardy 0 Report post Posted August 9, 2008 Hello, Ardy. Good to hear from you again. Hope all is well with you, and you become Ontario's biggest and best investor-Realtor. . .just don't accept any offers from Doug without a hefty upfront deposit. . .cash only Hi MC,Yeah, I had been away for a while..was travelling internationally for a couple of months etc...anyways, it is good to be back here again...- Rahul Share this post Link to post Share on other sites
