How & Why Can't I Get RealEstate Agent To Contract Property?

Question

My so- called investor friendly Agent always send me alerts daily of properties that fit my buyers criteria but she won't let me put the property under contract in my name, so that I can assign it to my end buyer. We have closed 1deal together, but I had to put the property in buyers name and the buyer gave me a 1200.00 finders fee which he is offering for each property I find for him as long as the number work for him,on the other hand with the Agent I have another property where I can make 7k with the same buyer if I assign the property under my own contract I even told the Agent I would take care of her for her time. If anyone understands what I'm going through hit me up!!

Wayne Brooks · Answer

Willie, are you telling us you Don't know what the standard realtor contract for your area says?  Also, it's not just your agent, the buyer's agent, you have to convince.  It's the listing agent, and the owner, who'd have to agree to a contract with someone who doesn't have the ability to buy...not an easy sell.

Michael Jobe · Answer

It sounds like she isn't truly investor-friendly. Perhaps the concept of wholesaling is foreign to her and you simply need to get her comfortable with the process.

Account Closed · Answer

Everyone is incentivized by something, Willie, you need to sit down with your agent and find out what is motivating her.  Once you know that you can look for win-win solutions where you both benefit.  It might be a trust issue since the two of you have only done one deal together so far.  Or it could be that she has another angle you don't know about.

Buyer her lunch and figure out what's up.

-Vincent

Shavonn Jordan · Answer

Relationships with agents are usually about dumping. She dumps properties that are below market value & you dump properties that are at market value. A conversation with her is my best advice, to see why and what it is that she wants. She may want a finders fee. What you will always need in these kind of situations is to get the property under contract with the actual seller, ALWAYS @Willie Banks

Travis Lloyd · Answer

@Willie Banks I just noticed that you asked "how do I get around the 3 page contract". The answer is that you don't. The agent just cannot do that if his/her broker requires the standard contract. And those contracts are non-assignable. You could try the double close as noted above, but that necessitates the funding to close.

Alternatively, try to find an agent that doesn't mind using the non-standard contract. MLS properties are something that any agent can put an offer on. Have agent number 2 submit a non-standard contract to purchase the house that agent number 1 has listed. It is possible that agent number 1 will respond by requiring the offer to be changed to the standard contract though - that's the way its done up here. There is no wholesaling from the MLS essentially.

Jean Bolger · Answer

Have you checked out the state contract regulations yet? You won't have an answer to your question until you do that. If your state is like mine, then a licensed agent is required to use certain forms. If those forms prohibit assignment, then she can't do what you're asking without risking her license. No agent is going to do that for 500 bucks.

Here are some keywords that might draw out some local knowledge: Georgia, real estate agent, contract, assignment, wholesale...

Willie Banks · Answer

@ Jeff Valintino Thanks Jo I agree with you when it comes to people jumping the gun. Especially when I'm trying to pull the trigger and yes the properties come from MLS

Willie Banks · Answer

@ Judy P no she's not making more the one and only deal we closed on she made 500.00 i

Jeff Valentino · Answer

Lots of people jumping the gun, and some are flat wrong here. It is most likely a contract issue as @Travis Lloyd and @Wayne Brooks have said. You really should check that out first.

Are these on the MLS?

Joseph King · Answer

if an assignment is not an option, how about an double escrow. To where there is a contract between you and the seller and you and the buyer. Just a suggestion.

How & Why Can't I Get RealEstate Agent To Contract Property?

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