All Forum Posts by: Sven Simon

@Jarrod Weaver @Jeff Clawson @Scott Hearne @Joel Owens Thank you so much for all of your feedback. Really appreciate reading different takes on the situation. I definitely see a lot of different sides here and it totally depends on the circumstances.

There are agents that I don't work with much and most often only talk to when they reach out because they have a deal. In that case, I agree that I want to keep the commission around 3% as I'm probably part of an investor short-list and don't want to be put to the bottom. However, when working closely with brokers (close to on a daily basis) and reviewing properties myself all the time as well as providing continuous business, then it makes sense to come up with a slight alternative.

Thank you, all!

Thanks, @Jarrod Weaver Would you mind sharing a few examples (even as a PM, if you'd prefer) in regards to how much this flat fee is at different price points?

@Michael Quarles Thanks for the info and great thoughts!

Perfect @Bill Gulley That's exactly what I'm thinking is fair - 3 and 2 or 2 and 3. It would probably make the most sense to do 3 and 2, 3 being buyer's side and 2 being seller's side as the agent would get a higher % on the lower price and the lower % on the higher price. That seems to be better for the flipper but still great for the agent. Would you agree?

Hi all,

Wondering what your thoughts and experiences are on the following:

I'm a flipper, and as an 'incentive' for agents/brokers, I generally agree for them to be the listing agent of a property that they originally refer and complete with me as the buyer's agent. For example:

John, a realtor in one of my target areas, will call me as soon as a great flip opportunity hits the market. If I end up going after the deal, he'll represent me as the buyer's agent as he brought the opportunity to me. At the same time, I'd have him be the listing agent on this property once I completed the rehab on it.

Therefore, John is 'incentivized' to call me up if he comes across great flip opportunities as he's getting two commissions without any additional 'hustle' (and as part of one original deal).

When I purchase the property, the commission is paid by the seller (and let's just assume that's 3% for my agent - as the buyer's agent). However, what's your thought/experience in regards to what the commission could/should be for my agent when selling the property again? I certainly want to ensure that John is still incentivized but I also want to make sure not to pay 'too much' as he's getting two commissions for presumably less work/time than two seperate deals.

Thanks in advance

Thank you all for your responses.

@Jonathan Marcus Thanks for the info and link. I read about the reciprocity part and it's definitely a bummer. I'll just call them tomorrow and get to the bottom of this. As you're in NY, I'll send you a PM in regards to a different topic in a moment.

Thanks, @Joel Owens I was browsing the web, too, but couldn't find anything that gave me a clear answer either. Depending on additional responses, as you said, it may just be best to call them directly. Thank you!@Joel Owens

Sven

Hi all,

Does anyone have any experience and knowledge in regards to what to do when moving to New York with a California sales agent license?

Meaning, would I have to take the New York sales agent license exam or can the California one simply be transferred? Or is there something else that I haven't thought of, yet?

Thank you!

Sven

Hi all,

Is anybody here actively buying deals at auctions? Specifically in LA or Orange County? What list service would you recommend and why?

There's many free services out there (online) but then also some paid ones. I'm wondering what the difference is. I assume, some are updated weekly vs. daily vs. instantly, others show parcel # only vs. full address, etc. I'd love for anybody to share some insight before I spend hours on researching and comparing.

Any advice is greatly appreciated.

Thank you!

Thanks, @Michael Woodward - that's what I thought. Great information and really go to know/verify! Thanks a lot!

I'll connect with you aside from this thread, if you don't mind.

Have a good weekend!