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Market to investors - GA has a huge foreclosure rate as well and our investors are living it up....

The market will turn around - market to investors find tenants for those homes. Normally investors don't see a need for real estate agents in their transaction. Consider becoming an investor as well so you can take advantage of the inventory at this time.

It will be a residual income for you as a landlord. A person would much rather rent a home then an apartment in my opinion. So do lease purchases at this time. You won't get an immediate profit but once the economy turns around those people will be able to purchase and then you make your money.

You don't have to just market to investors within your state. You can attract investors all over - you need to be the middle man at this time. Connect destressed properties to investors and being the one to assist in writing the lease agreement for one of your buyers who can't qualify for a mortgage.

Build your buyers stock that way...when the market turns around - those people may be in a better position to then purchase the home.

Rkurly14

In a nutshell, If you are a buyer - you really don't have a say in how much the real estate agents makes - bottomline. The sellers agent already factored the commission into the price of the home.

If you don't like the price of the home, and offer lower then the asking price...you are affecting:

- what the seller wants to net
- and what the real estate agent wants to make

Your agent (buyers agent) will split the commission with the seller's agent - that is why many listing agents (seller agent) like it when you as a buyer want to purchase a home and you don't have an agent with you. (They don't have to spilt a thing)

BOTTOMLINE Rkurly14 -

Unless someone purchases the home (NO ONE CAN GET PAID)...so in essence - the buyer is paying everyones SALARY (COMMISSION).

IF you are a seller - you will save money not having to pay a commission to a real estate agent...however, your home may not sale as fast. Unless you plan on marketing your home yourself and that is very time consuming and you can't network like the MLS system can.

So you must consider this....

If you still owe on your home and pay the mortgage note on it...without a real estate agent - you are looking to pay that mortgage note (a few more times.

So weigh your options.

I hope this helps

New Agents -

Build your team quickly is the only advice I can give to you.

You need a good loan officer who can get your RE transactions funded so you can get paid (GET YOU TO THE CLOSING TABLE).

Consider partnering with me, I can do the above and also give you pre-approved prospects. I service 38 states, so I am looking to partner with several RE in each state - so I can have a contact to refer to my borrowers if they don't have an agent at the time of application.

Check out our website, state of the art "RATE QUOTE ENGINE" and we provide a GFE on line as well

- 2 hour pre-approval results
- return phone calls (even on the weekend)
- provide credit reports to my clients once I pull them
- Get the deal close within contract period
- very knowledgable and know how to "STRUCTURE" a deal.

I know you have heard this before from others - so let me prove it to you that I am worth every penny of the commission I earn.

Work SMART... NOT HARD for 2007

[email protected]

You need stated - are you a wage earner or self employed...this makes a difference although you have a 603... If the borrower is a wage earner - try Fremont or MLN!

The Good AGENTS are usually the ones that you see advertise the most in the area. I don't know what you mean by good? But I will assume you mean - they are experienced, know their craft and are professional.

Pay attention to the real estate signs that are placed on people properities in your area.

Individuals tend to use agents who are popular and their signs are seen the most in their area.

An agent that is making money is an agent that can afford to advertise consistantly. This pretty much also demonstrates they get business but not necesssarily mean that they are GOOD!.

If you are trying to list your home...I will recommend that you interview 3 realtors...and make it plain..."why should I hire you", what are your tactics to sell my home in a timely manner" and "how many homes have you listed in the past and was able to sell in a reasonable time...can I have their number as a reference!

Many individual choose their agent based on the rate of their commission, I do understand but it's not always the best strategy. You get what you pay for in my opinion. If you hire an agent because their commission was 3% - you might just get only 3% work and your home will sit there for several months. So truly weigh your options.
:D

I hope this helps

New Real Estate Agents or Seasoned:

If you just need to run a scenario by a loan officer to see if a deal can work...(you know those one off scenarios), just shoot me an email.

I will get back with you within 2 - 4 hours. (If sent before 7 EST)

I need to know WHAT is not the norm - e.g (can't show income, filed Bandruptcy two days ago, switched jobs -different industry)

If you have those one offs and truly need an honest opinion if the deal can work or not...just shoot me an email. I will respond (promise).

(No pressure - I will merely tell you yes or no) if you want to give me an opportunity to price the loan myself...only then will I do that.)

Again, new agents...I know how hard it is for you to get the ball rolling and at times it seems as though you don't have any assistance. :cry: I've been there!

[email protected] 1-800-710-7709 x 2736

Going forward all of your offers must be submitted with an approval letter and a copy of your earnest money. Because REO realtors get so many offers, they pretty much go with the offer from a person - who is ready to move forward and there is no guessing if they are approved or not.

I will also suggest that you get an agent, REO contracts and addendums can really be confusing and you can screw yourself if you don't read and understand everything.

Just consider it a learning experience. Everything happens for a reason, you are going to find and get the house that suppose to be for you.

Just keep looking. I