All Forum Posts by: Chris DeTreville

@brandon turner yea, and I was told by a friend of mine who owns a bunch of laundromats that their lawyers aggressively fight if you try to break the contract. You might have legal grounds to break it but they're gonna fight it and its going to make it not worth it.

Is it CoinMach? If so, read the fine print of the contract. I know in one of our contracts with them, the contract automatically renews for 5 years unless you cancel it a year in advance of the rollover. I don't have it in front of me now but I am pretty sure that's how it's structured.

True. That may be the best route. Thanks for hearing me out Wayne. I think I over think things sometimes and have to talk it out.

I get the " What if I don't have any credit?" question every single day. I don't even answer any more.

Today I had two good ones. An unmarried couple was interested in a house and the man got all upset and told me it was total BS (except he didn't use the abbreviation) that we had to run his credit as well. "why should it matter if we're both on it" "I have an uncle in the real estate business and when I lost my job he told me to stop making payments on my house so I'm doing a short sale but I'm sure that's ruined my credit. That's BS man I've always paid my bills"

Then I was talking to another person and I asked if they had pets, he said he had a small dog. This particular house allowed dogs with a $200 non-refundable pet fee. I told him. He exploded. "I am not paying that fee that is ridiculous my dog goes to the bathroom outside. " I said ok, sir, well it looks like we may not be a good fit for you. But he keeps asking questions. "Is the hot water heater serviced once a year? The oven is old will they be replacing it? Can we rent it without a security deposit? What are the lot lines? How often do you service the hvac?" Somewhere in this conversation I tell him our income requirements are 4x the monthly rental in gross income. He explodes again. "HAHAHAHA so you are telling me no one in South Carolina can rent from you guys" I say very quickly, "sir we rent hundreds of units a year" So then he demands to talk directly with the property owner. I pretend to write down his number, came home, and had a beer.

Yes it is a form signed by just the seller. But like I mentioned, I have no relationship at all with this buyer. I guess if I go this route I need to get them to fill out agency paperwork...not sure how they'll react to that. I guess another solution to this issue would be to list the property at 3% commission and offer 0 to a buyers agent (knowing that an offer is coming from this buyer)...then just represent my seller and let the buyers submit their own offer. That seems like the right way to go, though it seems like I should be able to put the deal together without listing it on MLS while representing the seller instead of buyer.

I would like to see if someone can help me with this question I have. I realize agency relationships may be different in different areas but the same basic rules should apply here in this case.
I have a seller who was trying to negotiate commission with me on a listing. 6% is the going rate. Well, in the meantime, I find a potential buyer who is looking for the exact house/price range/condition/etc. So I'm thinking I could just bring this buyer to the seller, and ask the seller to pay me 3% using a compensation agreement. In other words, I would not list the house. The compensation agreement that I would use from my local Realtor association basically says that the seller is treated like a FSBO and that I would represent the buyer. Here is exactly what that one paragraph says;

"It is understood and agreed to by all parties that (salesperson name)_______ and (real estate agency name)___________are acting as an agent solely representing the buyer in this transaction (buyers agent) This form does not create an agency relationship in accordance with SC code of laws 40-57-139"

So I am a little confused by the language. I have never met these buyers, and may not ever meet them. I have only talked to a contractor who the buyers know-who will be doing the rehab. They are out of towners doing this for their kids who will be attending college next fall. Basically my question is, do I have to represent them? It sounds like I become the buyers agent, but then it says there is no agency relationship created....what fiduciary duties would I owe to the buyers if any?

I had a mother of a college student call complaining because we told her the house was cable ready (meaning there were cable lines already installed-and trust me, we explained to the daughter what utilities were included in the price and what wasn't) and she was very distraught when she connected the line to her tv and got static. She assumed that since the line was already there, that the cable service was free.

hmmm. If it hadn't been sitting on the market so long I'd say a $150 reduction is unreasonable. But 150 days is a long time. If $800 doesn't cover the owners expenses, maybe they just don't want to commit to losing money for 2 years guaranteed...hoping that they can get it rented soon and cover their costs. But again, they've already lost about 5 months to vacancy. I've seen owners refuse to accept lower offers after the house has sat unrented for months for that very reason...but I've also seen owners cut their losses and accept lower bids to stop the bleeding.

Lanita Woods how much was the original rent and what was your offer? That may help answer some questions.

I had a "nice" lady call me and ask me what we looked for in the application...I told her...credit, income, rental history, background...and she got hysterical. She told me "you are the reason people go homeless"

I started to explain to her how business and really life in general worked, but then I realized it would do no good, and just said "ok" and she hung up. She's still out there somewhere, blaming other people for her mistakes so beware.