All Forum Posts by: Heidi Rogers

It's probably best to go with a continuous sheet of something. Marmoleum is a higher-end vinyl, durable, attractive. Tile is scary because water can seep through the grout cracks and ruin the subfloor. I'm currently researching finishes for my 4plex, too.

Hi Jason,

I'm on the coast in Newport and am also new to the real estate arena. Glad you found BP! I've gotten so much great information, it's unreal. I invest on the coast, where it's also tough to find good deals. Oregon's just not that hot right now. Well, maybe Bend is getting there...anyway, good luck with your search!

Haha, Dev. I see what you're saying! So it might be better to go the route of being an investor who just happens to be an agent, too. Karen, thanks for weighing in. I know my Principal Broker is not keen on the idea, but hasn't said no. I want to understand all the legal issues before I approach her again. It's good to know that you wouldn't be interested. What risks do you see to the Principal?

So it's not as mysterious an endeavor as I thought, and it's legit. The strategy Dev described (to market as an investor and list if its not a deal) is the opposite of Tom Day who said he markets as an agent and buys cash if he's personally interested. Dev, what does your marketing look like that you described above? Thanks for all the great info, people!

You're right Mathew. I have been warned calling them might send them red flags, but I'll have to do that.

Jesse-- My understanding of Oregon law is that if you're a licensed agent doing any real estate activity, whether it includes a "personal interest" or not, you can only get paid through your principal broker. So your brokerage has to be on board with any side jobs and would have to decide if they wanted a cut or not.

Tom Day-- I like your approach and am glad to hear how that works for you. I'll have to explore that possibility further.

Thanks for the great replies, everyone.

Joan-- Glad to discover I'm not the only one who's wondered about this. I can see the wisdom in keeping your activity to being just an agent or just an investor in case conflict could be construed...but wouldn't be the same as an agent purchasing a home to live in or rehab and sell? When I ask my Principal Broker, who had never heard of wholesaling, she just said, "You'd have to be careful," but couldn't explain what to be careful of. I've read everything I could online and no clear answers. The only thing I haven't done is call the state Real Estate Agency directly.

Tom-- Do you know what "could be considered against the law" about the proposition?

Steven-- I agree; it could be confusing to sellers to offer a choice, but I thought it might create a "niche" because there aren't any other Realtors marketing this way. (Perhaps for a good reason...? :-)

I've searched BP for anything related to RE agents acting as wholesalers, and there's not much. Forgive me if this is a repeat topic.

I was considering this for a market campaign, but was afraid it might cross a line somehow. Specifically, if someone received this letter and thought it was a ploy or somehow dischordant, they could report it to the Realtors board and I'd be investigated. BUT, I couldn't find anything in the Realtors Code of Ethics that would make it unethical. My brokerage would have to agree to and approve the marketing, then take a cut if any wholesaling occurred (so I understand). Here's what the letter would say:

Dear Homeowner,

My name is Heidi Rogers and I am looking to buy and sell homes in the Newport area. Your house at 123 Main St. caught my attention and I was hoping you'd be interested in selling it.

I can offer you two options:

1) A cash offer. I can offer you a cash amount and close within 5-7 days. The benefits of this option are that you wouldn't be paying for paint and other repairs, Realtor's commission fees, or closing costs, and we could close the deal as soon as you needed.

2) I can list it for sale. As a licensed Realtor with At the Sea Real Estate, I could list your house on the MLS for market price. It could take many months to sell, but I would work hard to market the property, and you would stand to gross a larger amount by selling it retail.

If interested, please call me at...

Is this a good idea? Thanks in advance.

I listen to the podcasts in my car, and since I only get a few minutes in the car at a time, I never listen to a whole episode and am therefore really behind. But, I do think an hour seems about right. Sometimes it seems the guests don't get to the meat of the topic until about halfway through, so being able to go over time would be a good option.