Investor · Chicago, IL · Member since 2013 · 20 posts · 3 votes
I've been reading lots of LO posts and have seen people saying that they farm from MLS-listed properties. I'm confused.
Let's say a homeowner has listed their home with a real estate broker. The broker is not producing a buyer, so the owner also wants to work with me to find a Tenant-Buyer willing to LO their home. If I successfully find them a qualified TB prior to the broker bringing a buyer, will they still be obligated to pay the broker a commission? Most listing contracts specify that the owner owes a commission even if they sell the house themselves. Please explain why or why not. Thanks!
Investor · Sherman Oaks, CA · Member since 2008 · 6k+ posts · 3k+ votes
12y
I lease-option and assign from seller. I also have the seller go down to the broker and try to get a release of listing n writing for about $500. Make sure that it's in writing, the broker releases the listing. Don't look for tenant buyer without a contract from the seller first.
Investor · North Richland Hills, TX · Member since 2011 · 789 posts · 403 votes
12y
We market heavily to listed houses, but I always tell the seller to contact their agent and work out whatever arrangement with them. Maybe it's half of 1 month's lease etc. Doesn't matter to me...but I tell them to KEEP the listing.