You’d really have to look at it in slices to be honest. 

Land is a unique slice of the real estate market.

You make them money because they take a slice off the top of all your deals (25-50% depending on the company) and you have to pay them a monthly fee to even hang your license!

I was wondering something similar for a situation where the property owner was going to contribute the house to the project and get a little slice of the pie when it sold.  

Lots of ways to slice it and possibly take advantage of your equity while maximizing the value of your VA entitlement.

That is a job worth whatever they charge. 3 ruined pieces of gutter, siliconed together (not straight) and a sliced thumb requiring stitches, and I was done.Concrete flatwork is another art.But I can paint, install flooring, do finish carpentry, install kitchens and baths, electrical work, plumbing if it's sharkbite or pex, and lay tile at least as well as any contractor.

I'd just tell them how great your offer will be and make sure you mention:1) I have no money and intend to put $0.00 in escrow2) I really don't know who the actual buyer will be3) I want to tie up your property as long as I can whilst I'm off posting my Day-Glo signs on the side of the road or mailing cheesy ma-and-pa letters with scrawl font.4) I'm going to write at least 20% below FMV so I can make my slice

Most ~20 ag exempt acres I have seen in that area are approx $200-$250K so to me that means the house could arguably be approx $75K-$185K of the total deal depending on slice it.

@Chris Virgil-StoneAnyway you slice it, it looks like a too good to be true scenario.The retainer makes me think you are entitled to speak with a professional within the firm if you have tax related questions or require consultation?

@Jon Holdman That's a good point about the ownership split however I have been studying syndication a lot and know that there are many syndicated deal structures out there where the sponsor puts $0 of his own money in but still gets a decent slice of the ownership (i.e. 25%) I know this comes down to experience as well but I know without a shadow of a doubt that these deals exist and are pretty comon.I mean the idea is that without the sponsor of the syndicate, there would be no deal anyway so IMO they deserve a much bigger slice of ownership than the amount of capital (if any) that they put in.I don't doubt such investments exist.