Understanding Real Estate agents better #1

[Brandon Gamblin]

One of my goals, as a wholesaler, is to do the best that I can to understand real estate agents line of work. I'm also trying to find ways to bridge the gap between agents and wholesalers and develop a powerhouse agent and wholesaler connection with myself and another agent! But like the saying goes, "No one cares how much you know, UNTIL THEY KNOW HOW MUCH YOU CARE".  

With that being said, one of my first of many upcoming questions I have for agents is, how do real estate agents deal with multiple offers on a single property? 

[Henry Clark]

If this is number one I would back up and do the following.  

Recommend you sit down with a realtor and have them explain how a commission gets paid out.  Example 7%.   Buyer realtor gets 2% pts.  Seller agent gets 2% pts.   Sellers realtor office gets 3% pts. 

Multiple offers they will push the one where they are both the buyer and seller agent so they get more commission.   They don’t get 4%.   Have them walk thru the numbers.

Ask them why a realtor would or would not want to work with a wholesaler.  

Ask a potential buyer why they would or would not want to work with a wholesaler thru a realtor

Terms of sale:    
Subject to loan, appraisal, inspection, title search, deposits, non refundable deposits, close date, etc   Given multiple offers which of these terms would sway the seller and realtor?


Buyer-  known, funding letter from bank, repeat or future repeat buyer, 1031 exchange, etc  

Basically lay out the key components to a sale and use that as your model on why property offers are accepted or not.