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Updated almost 5 years ago,
Broker relationship; fee split on buy side residential trans.
I'm aware that what I'm looking for is frowned on by many agents. It is my personal opinion that on sell side, agents provide a great deal of value. Given the number of times I've been around the block, this is less of a case (for me personally) on the buy side. I run my own comps, I have my own models, etc.
I am unrepresented; I have no existing agent relationship. I'm looking for a CO licensed broker that is happy to work with me on the purchase of a single family property; contract to be submitted Sunday or Monday (Apr 19 or 20). I am not yet under contract to purchase, so there is nothing to rewind. The commission to the buyer's agent on this property will be in the range of $15,000. Since CO law prevents the seller's agent from sharing any of that commission with me, I'm looking to put $7,000 in of that commission in someone's hand, and use the remainder to reinvest into the house. Nothing beyond what your CO license dictates is required: I do all my own comps, inspections, purchase contracts, due diligence tracking and closings. As an alternative to a flat $7,000, I would consider an hourly agreement at $350/hour. I am not interested in other arrangements.
Please excuse my forward request - I mean no disrespect to anyone working in the industry. At the end of the day this is a numbers game for me; this time around, I need to reclaim a bit under $10k in value to make my model work, so am seeking someone willing to try out this arrangement, make a little money, and perhaps start growing a relationship. This will be my only purchase in 2020, but will likely have a sale in 2021 (pushed a year out, for obvious reasons..)
Thanks,
-ad
I am unrepresented; I have no existing agent relationship. I'm looking for a CO licensed broker that is happy to work with me on the purchase of a single family property; contract to be submitted Sunday or Monday (Apr 19 or 20). I am not yet under contract to purchase, so there is nothing to rewind. The commission to the buyer's agent on this property will be in the range of $15,000. Since CO law prevents the seller's agent from sharing any of that commission with me, I'm looking to put $7,000 in of that commission in someone's hand, and use the remainder to reinvest into the house. Nothing beyond what your CO license dictates is required: I do all my own comps, inspections, purchase contracts, due diligence tracking and closings. As an alternative to a flat $7,000, I would consider an hourly agreement at $350/hour. I am not interested in other arrangements.
Please excuse my forward request - I mean no disrespect to anyone working in the industry. At the end of the day this is a numbers game for me; this time around, I need to reclaim a bit under $10k in value to make my model work, so am seeking someone willing to try out this arrangement, make a little money, and perhaps start growing a relationship. This will be my only purchase in 2020, but will likely have a sale in 2021 (pushed a year out, for obvious reasons..)
Thanks,
-ad