Does creative finacing work when using REALTORS - Posted by Brad (IL)

Posted by JoeS on September 24, 2002 at 10:46:14:

I have been buying creatively through realtors for the past 8 years and of the 110 deals I have done only a handful have been FSBO’s. Every market is different. I work with 2 excellent agents who know exactly what I do and are willing to go the extra mile for my repeat business.

If you are having some difficulty finding an agent who will work with you then just interview more until you find one or two. My 2 cents.

Does creative finacing work when using REALTORS - Posted by Brad (IL)

Posted by Brad (IL) on September 23, 2002 at 19:54:18:

I see the CS program and during the video calls a lot of people himself. If you use a realtor can you make creative deals as well, or do the realtors get turned off when you tell them you want to finance creatively. Anyone with suggestions???

Re: Does creative finacing work using REALTORS - Posted by Senora (MN)

Posted by Senora (MN) on September 27, 2002 at 01:59:25:

I am a Real Estate Broker and Mortgage Broker who works with clients using creative financing and also buy properties myself. Many Realtors will shy away from working with you because of the abuse they will take from other agents to whom they are presenting your offers. They will have to make many offers on your behalf, in order to get even one accepted. The agents they will be making your offers to will often be “insulted” by your offers. One other thing to keep in mind when using a technique that suggests you borrow commission from the Realtor, is that this can (in most cases) only work with a Real Estate Broker, not with an Agent…and even with a broker can be complicated. At a closing this is how commissions play out…the listing broker collects the full commission at closing. The listing broker splits commission with the listing agent and the selling broker. The selling broker then splits their portion of the selling commission with the selling agent. To further complicate matters, sometimes the listing broker distributes the commissions after closing, meaning that the funds are not even available at the closing table. All parties need to be in agreement on how and when commissions will be paid in order to make the deal work. I know this may sound confusing. You can email me for further explanation if you like.