“These guys?” - Posted by LeonNC
Posted by LeonNC on May 05, 2000 at 12:08:26:
hmmmmmmmmmm!
Re: Excellent Post ED! It’s about time we quit taking their flack. - Posted by ScottE
Posted by ScottE on May 05, 2000 at 11:57:36:
Nothing like passive-aggressive behavior, Edmund.
Re: I Wouldn’t Do It… - Posted by JTango
Posted by JTango on May 08, 2000 at 06:08:34:
JPiper,
Others on this site claim MLS listings are worth their weight in gold. Why is it your opinion “most of the deals out there are not in the MLS. They are gone long before they ever hit the MLS.”? Anybody, I would just like to know if the MLS is good source to find motivated sellers or not. Thanks… 
Re: Would this make the real estate agent mad? - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on May 05, 2000 at 14:51:38:
Now Scott, Obviously I have hit a sore spot here, but one word out of context quotes have no meaning. Three times in my post I indicated that I could not understand what His intention is, or was. I still can’t.
Now as for Todd being obligated for a commission, I can’t understand why you would think that unless he hired a buyers broker…
If you guys don’t write offers to purchase with any more calirity than you post no wonder we can’t agree…ED
Two sides to every story. - Posted by CurtNY
Posted by CurtNY on May 05, 2000 at 12:49:07:
Hey guys, I think we’re all getting away from the question. Will the realtor get mad? Yes! Does this mean it shouldn’t be done? NO! Unfortunately it doesn’t take much to get a RE License in this country, I think we can all agree on that. While in college I took two Real Estate Courses (I was a finance major and just realizing how interesting RE was) and wouldn’t you know it, I was now qualified to get my license (all I had to do was take the test, which I chose not to thanks to the advice of my RE Investment club president - I can’t thank him enough, by the way HE IS! ) Back to the point, some realtors are narrow minded. ED we’re not including you, but you have to admit realtors are pros at screwing up a perfectly good creative deal if they don’t understand it… most will recomend to the seller not to accept (at least that’s been my experience) therefore if a good deal presents itself but there’s an obstacle you have to go around it, you wouldn’t just let a profitable deal fall apart because of a $35 lien on the property from the town for not having the lawn mowed would you… of course not. I think a better solution is search out a realtor that invests and is knowledgable about this stuff and work with them… they’re out there you just have to find them. GOOD LUCK!!!
Re: Ed, I think you missed the point - Posted by ScottE
Posted by ScottE on May 05, 2000 at 12:36:53:
Why in the world would I want to get my RE agent’s or broker’s license? So I can have access to the MLS? Give me a break. I already get that. So I can learn more about contracts and (boring, ho-hum CONVENTIONAL)sales techniques? So I can go to luncheons and hear agents and brokers bash investors and their creative ways? No thanks. What a waste of time.
The idea that I have to get my agent’s or broker’s license to compete is ludicrous.
Now, back to the original point. Your checkbook analogy is weak. Although it happens everyday, I am amazed that any SELLER (or buyer for that matter)would just “roll over and play dead” as you put it and give total control of everything to an agent or broker. Unless spelled out in your listing agreement, what gives you the right to say what is suitable for the seller? What’s next…are you going to tell them what to wear and where they can send their kids to school? Because, obviously your clients cannot do anything for themselves…they MUST have your help in making all decisions, or better yet, YOU make the decisions for them without them even knowing all of their options! What a tremendously left-wing business! Perhaps a run for the Democratic Presidential nomination would be in order…
Scott
Re: Would this make the real estate agent mad? - Posted by ScottE
Posted by ScottE on May 05, 2000 at 15:19:01:
Ed, I don’t know how much clearer I can make it for you, but I’ll try. Here is some MORE of Todd’s original post.
“Can I contact the sellers by letter
or a phone call to present some ideas
like pactrust or lease option.”
If it isn’t clear to you now that he is trying to present offers other than cash to the sellers without the potentially tainted and unfavorable opinion of the agent, then you may be beyond help. I think the problem may be that you are so stuck on thinking that Todd is going to circumvent and swindle the agent out of his commission.
With respect to my statement that Todd would be looking at paying the commission of the broker- I am clear that it would be the seller’s contractural obligation to pay their agent’s commission, but in reality (in most cases) they are paying with proceeds from the buyer. So, Todd would be in essence paying their agent’s commission. Good grief.
Are you really having this much trouble reading and understanding?
Scott
Re: Sorry Scott, - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on May 05, 2000 at 13:24:25:
I really did’t mean to get you all shook up and upset as I obviously have. I’m sorry.
Now that said if you would go back and read my post @ 11:30:30 and then re-read your post @ 12:36:53 you will see that your response has nothing at all to do with what I said, nothing. No mention of MLS or of whatever else you talk of in the first paragraph.
The idea of you getting your brokers license was directed at the original post. You will have to make your own decision (and then meet the requirments ???), was not discussed in my post, and directed to you.
Now back to the original point—YOU missid it completely. The seller and the agent are not the same person. A listing contrary to popular belief is a Contract that does spell out a number of things that are required from the seller and the broker. This is agreed to by the seller and the broker going in therefore each party has rights and obligations, all listings are not alike. Just as all people are not alike.
Your analogy about laundry and the handling of uneducated children, is weak.
About helpless clients: I just love 'em. Once my seller has listed with me he should not have to do much else except to sign an acceptance of a proper purchaser and show up at the closing to get his $$$.
About your mention of politics: I no doubt would be far superior to the offerings that I know of today. It would not, however be in my best interest to accept such a measly limitation in my income potential…
Onec again let me say I did not mean to shake you up. I have found that when I answer questions that were not asked I have difficulty …ED
There are some advantages - Posted by Rob FL
Posted by Rob FL on May 05, 2000 at 13:09:23:
I do agree that being a broker for the sake of only brokering is just getting yourself a new job.
However, there are many good reasons for getting a broker’s license. You say that you already have access to the MLS. Are you some type of affiliate member of your local REALTOR’S Assn. or do you just know a good REALTOR? I bet you don’t get free reign of the MLS computer. Can you sit down in front of the computer every day and scan new listings for the last 24 hours. What about easy access to all expired listings? Or what about the fact that one can bid 3-3.5% more than other non-licensed investors on a property because of the commission? Or what about the fact that you could have a lockbox key and get into any listed property you want without dragging some agent around all the time?
Here is an example. I had a condo for sale with owner financing (10K more than I paid for it). Being a broker, I put it in the MLS. Guess who ended up buying it, another broker who knew saw it in the MLS. It sold in 2 days. Since the buyer was also a broker we agreed to scrap the commission altogether. Could an unlicensed person do something like that with an MLS listing? Hmmm.
Re: Would this make the real estate agent mad? - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on May 05, 2000 at 15:25:31:
Scott,
Do you always presume that everyone knows what you meant, even though you said something different?
Looks like you are about ready for your second seminar…ED
I’m seeing a pattern, Ed - Posted by ScottE
Posted by ScottE on May 05, 2000 at 14:53:43:
that you assume, extrapolate, and add what you wish from what the writer has printed.
Who said anything about “uneducated” children? Quite a predictable and typical answer from you.
About your patronizing and sarcastic apology, take it out with the rest of the garbage that you have. Who needs it. Shook up, I’m not.
You stated in your 13:24 post, “Now that said if you would go back and read my post @ 11:30:30 and then re-read your post @ 12:36:53 you will see that your response has nothing at all to do with what I said, nothing. No mention of MLS or of whatever else you talk of in the first paragraph.”
What are you talking about? Did you forget about your 12:03 post responding to me? THAT is what I was responding to.
I am, however, bewildered that you cannot seem to get a grip on what Todd was trying to convey. That most agents DO stand in the way of creative type offers. It is clear that you read and responded to Todd’s post with the intent to attack him for even considering talking to the seller directly no matter what the agent was doing. Your original followup was one-sided at best.
I AM clear that the seller and agent are not the same person and I know what a listing agreement is. What you don’t admit is that most sellers are not sophisticated and do not know much about contracts. It’s the ones that are educated that put all of the screens and filters for agents to refuse unqualified offers. For the other sellers, who are you to control EVERY offer? If you are going to get your commission anyway, why not submit the offer?
Scott
Re: Sorry Scott, - Posted by Bill (OH)
Posted by Bill (OH) on May 05, 2000 at 14:36:17:
Sorry Ed, but I think Scott has a point. I’m a realtor, with a J.D., and I’ve seen lots of times I’d love to do an end run around an agent. There are only a tiny handful of agents in my area of SW Ohio that know what they are doing. Many of them are just plain incompetent or crooks.
Scott, and everybody else, one way to solve the dilemna of a RE agent that won’t cooperate in presenting offers, is to put in a contingency that the purchaser will be allowed to be present with the seller and the sellers agent when the offer is presented. That way, the purchaser can explain his offer, and then leave the seller and their agent to come to a decision.
Re: There are some advantages - Posted by ScottE
Posted by ScottE on May 05, 2000 at 14:11:14:
Rob,
Yes, I do have MLS access through a REALTOR. Although the computer is not here, she will pull whatever I want when I call, including expired listings.
I agree, the ability to offer 3-3.5% higher is appealing, but not incentive enough. If the sellers are that motivated, then discounting 3% more should not be too hard to overcome and the listing broker can have the whole commission.
Respectfully
Scott