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Updated about 11 years ago on . Most recent reply

Account Closed
  • Real Estate Professional
  • Wichita Falls, TX
109
Votes |
1,270
Posts

Real Estate Agents Wanted!

Account Closed
  • Real Estate Professional
  • Wichita Falls, TX
Posted

My buyer is about to restart their acquisitions in the following markets having designated zip codes:

Jacksonville FL; Indianapolis, IN, Baltimore, MD; Minneapolis,etc., MN, Charlotte, Gastonia, Concord, NC; DFW area, TX; Houston, Sugarland, Baytown, TX;

and possibly some other areas, am waiting for their 2014 acquisitions targets.

Buyer pays agents $0 dollars, brokers $0 dollars. So you will be acting as an actual buyer's agent, with commissions paid by seller upon buyer's purchases. You will be representing buyer in you professional capacity.

This is a buy and hold buyer, whom owns that I know of 9 1/4 pages of properties in the above areas. YEP! I looked and have their targeted markets in front of me, and was told last week and today, these are the areas they currently concentrating on.

Buyer has CA forms, inclusive of everything they require to purchase. You will have to execute these.

I'll just say it like this. this buyer has the money to purchase properties.

Unfortunately for me, some of the agreements requires acts done by someone with a license. I too had to execute the CA documents, and though they can assign an agent to look into my leads, I was told that I cant hand the baton off to them-- they want to make offers based on the criteria they request, and close within 2 wks -30 days-- and some of that criteria requires a license.

I have a conference call tomorrow with them. Tired of trying to figure out how to get it done when I can't do it.

I would, well am going to say to them that I do have agents in place in their markets that will look at the CA, execute it, and submit properties meeting their criteria.... I know exactly what they are looking for.

I will submit to you my property leads with a copy to buyer, and all you have to do is be an agent's buyer following buyer's criteria.

Your commissions are between you and seller. However, I will have a finder's agreement installed with seller, and may require agent to honor at the most half, depending on what it takes to make the deal. At the most it will be $500-$1k below $100K, up to $1.5K in increments for purchases over $150K.

None of this prevents you from submitting your own represented properties as agents. Not sure, and its not my concern of an agent submitting there own investment properties, or properties that can ultimately be shown an agents hand in as a binding party-- meaning it belongs to you in some way by name personally.

I am not an agent. I had to execute the CA agreements, and I have been given no leeway as wholesaler, based on their criteria. Part of it requires info from eyes on it.

I have properties in waiting for their acquisition date. This agent requirement blindsided me. SOOOOOOOOOOOOOO I am looking for real estate agents or those who possess a license to sell real estate.

LOL! Never knew it would take so long to ask for an agent!

Most Popular Reply

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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,509
Votes |
23,418
Posts
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

@Account Closed

Understand that as an agent, we can not share with you a portion of a commission, as you are not licensed, and are not a principal. As far as getting the seller to sign an additional fee agreement with you in addition to a RE commission, probably not going to happen.

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