BP has changed a lot!

[Marvin S.]

I and probably many others review posts from real estate agents, some with property location, some without. For the most part property location or its absence is understandable.

But golly gee willikers ladies and gentlemen, can you at least say whether you are acting as the sellers agent, owner/agent, investor/agent or soliciting to be the buyers' agent? The last seems to be prevalent as I find a lot of properties with or without the property location disclosed are on the local MLS, or on CL with fuller details in the FSBO category depicting MLS properties.

This is of concern, at least to me.  Some of my buyers are hedge funds who already have their teams/agents in place. Yes, my relationship with them is in the off market sector of RE. However, that relationship is only defined by what I can offer to sell to them.... Any opportunity with 3 agents involved where one does not disclose their interest from the onset generally sits unattended to.

If you are looking to be the buyers' agent, please say so.

The dynamics of investors models can adapt to almost any situation when an asset is of interest. 

For example: an agent is offering another agents MLS listing. Means he or she is either looking to be the buyers agent or looking for the referral fee from the listing agent. As an investor/wholesaler, I would have to do a back to back closing with my buyers in this scenario. Not a problem, because it is on the MLS, I would have no agent fees on my buy side, seller pays the agency fees. Ideally my out of pocket costs are limited to closing fees, which would be no problem as well. I already have the buyer, but it does get a little creative on my sale side.

Another example: Pocket listings. A lot of people believe they are limited to pre MLS listings. However, savvy agents will pocket FSBO that are willing to pay one agents fees, not 2. What I have seen is, the agent has a shoe in for 3% but yet goes on to present the asset wanting to be the buyers agent as well, and not required by law to present ALL OFFERS to seller.

Another example: An MLS property in a state where assigning contracts are allowable unless prohibited in the PSA. If the agent presenting the asset is the listing agent, their agency is contracted to receive 6% commission generally. That contract can be assigned to an end buyer with their own buyers agent. But where a post here on BP by an agent whom seeks to be the buyer's agent on another agents' listing, at least for me that would be 3 agent commissions.

Good morning, we buy and sale/wholesale in the following markets:

Property criteria is:

3/1.5 or better;

1000+ sf;

1975 or newer;

detached garages preferred, but carports on older homes will work;

$850+ median rent within 2 miles;

minimum to medium rehab including updates;

on city utilities;

PP: $50K-$250K.

AL- Birmingham, Huntsville;

AZ- Phoenix, Tuscon

CA- Northern & Southern

FL- Jacksonville, Miami, Orlando, Saratosa, Palm Bay, Tampa, Southeast FL, Fort Meyers;

GA- Atlanta, Augusta

IL- Chicago, Chicagoland

IN- Indianpolis

KS- Kansas City

KY- Louisville, Covington

MD- Baltimore

MO- Kansas City, St Louis

MN- Minneapolis

MS- Southaven

NC- Raleigh, Charlotte, Triad, Triangle

NJ- Patterson- will do duplexes, tris, and quads here;

NV- Las Vegas

OH- Columbus, Dayton, Cincinnati

OK - Oklahoma City

SC- Columbia, West Columbia, Charleston

TN- Memphis, Nashville

TX- DFW, Houston, San Antonio

Will look at portfolios as well.

As mentioned, I am looking to buy and sell/wholesale properties.

If you have anything available or questions, my email is [email protected], or PM here or post.

Thanks!

[Adam Schneider]

@Marvin S. I hadn't realized this was an issue before your post. Are you a broker? Thanks for presenting these concerns.

[Elbert D.]

So what strategy are you looking to use the most? Buying or selling real estate?

[Steve G.]

@Marvin S.

There really isn't a problem if there are other Realtors, Wholesalers in any deal as far as I'm concerned, the only thing which bugs me is when I'm asking questions and being given the run around by those who either don't want to disclose they are daisy chaining, or working with others on the same deal.

Honesty and transparency goes a long way folks!