Posted by Tom – IN on July 16, 2001 at 13:15:24:
Why would you want to deal with an agent? My limited experience with LO sales is that it is much easier to sell a LO house than it is to get ice cream to melt in August.
But if you do, how about a 3% commission, no multiple listing, your sign goes in the yard also, and they get 3% of your net at the close as well as 3% of the option fee. Or should it be 3% of the gross at the close, instead of 3% of the net?
when dealing with an agent…WilliamGa??? - Posted by WaynePa
Posted by WaynePa on July 16, 2001 at 11:19:07:
When acquiring homes “subject to” and L/O out if I were to retail through an agent what are the first steps? I’m meeting with an agent on Wednesday, so what type of questions should I ask to see if this a good agent to work with on these types of deals? Also how does the agent get their share? 6 percent of the option consideration or do they get paid from my monthly cash flow? I know these are newbie questions but I’m a newbie. Any insight would be appreciated. Thanks in advance guys and gals.
Wayne
Re: when dealing with an agent…WilliamGa??? - Posted by Bob B.(PA,DE,MD)
Posted by Bob B.(PA,DE,MD) on July 18, 2001 at 21:44:18:
Dear Wayne,
This is a great question. The most important thing to ask the realtor is how far under the market does he think a real estate investor must buy a property. If he seems confused by the question, or does not say something like 65% of the market value, than that realtor does not understand where you need to be to make an acceptable profit on the flip.
Bob Beckman
Rehab Funding
P.S. I know that you are from PA, what town are you in?