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Updated over 16 years ago,
commission/fee problem??
I am currently working with what I would consider a really GOOD investment property buyer broker. I have yet to buy any property from him. No showings either. We have a casual relationship at the moment where he sends me all the properties he has in my target area. Provides spreadsheet analysis on request. Has even meet with me for meetings on 2 occasions. I can't emphasis even that he knows his stuff. Here's the problem. Everyone I talk to, including people in the biz all say his fees are too high. He recently told me that his commission starts at a minimum of 4%. I asked him about that, thinking that was too high, and he told me that the seller pays that fee. He also said there was a fee of $350 per purchase. And that would be my only fee. But here is where I am confused. He said that the seller pays the commission. But I say not always. Which means I would be the one left holding the bag, right??? When I question him on his fees he seemed to get mad/annoyed. I don't know what to do as we have developed a good relationship. He knows exactly what I'm looking for. What should I do??????????
THANKS to anyone who can help...
Chaz