Michael Stole
For how long is a listing contract valid?
12 February 2011 | 10 replies
I am always amazed at what some broker and agents will agree to in a listing agreement.If you stand for nothing you will fall for anything.You have all different types of listing agreements in states from open listings to exclusive rights to sell.I ONLY do exclusive rights to sell.I control the property and will not put time into a seller that wants my full attention but will not commit to me.A business relationship that is fair to both parties is a two way street.How long a property takes to sell will depend on the asset class and size of the deal.There are average times on the market until closing depending on this.So to give a blanket 30,60 day period doesn't work for all listings.For example some higher end homes take on average 9 to 12 months to sell.Putting these types of listings into magazines can run into the thousands.I have seen sellers tell the broker /agent to spend all this money only to change their minds and not sell etc.In our contracts we have a protection period.So if I put in an exclusive agreement a 6 month listing period I will usually have a 60 day protection period.This means if you list with another broker I am not protected but if you don't you will still owe me a commission.This keeps unruly sellers from me showing them a buyer and trying to let the listing period expire to avoid a commission and calling the buyer back.In Georgia on commercial properties if I am a broker which I ma I can lien a property to stop a sale from happening.I have never had to do it but will enforce it in a heart beat.I provide a service and I will be paid.I bring this up at listings presentations.I let them know what will happen if they try not to play fair and nice.I will give them the same respect they will give me but will not be taken advantage of.On costs with the listing there are regular marketing items I do for each listing.If they want something expensive or special then what I do is this.I tell them to pay for the service and keep the receipt to give to me.They have to be validated receipts with conformation of payments I can verify.The when it sells I will give a credit off my commission at closing.This way if they pull the listing early and don't give me the chance to fully market it they will have skin in the game and it will be painful for them as well.If it's just my money they wouldn't give a crap that I lost 5k.When it's their money they think long and hard about spending it.I have friends that have sold luxury high end homes for over 20 years and this is how they do things to not lose money.The seller will also think harder about the list price because if they pay for this extra marketing and it is overpriced they may never see that money again.I use this system and it works.You teach people how to treat you.If you want a profitable business you have to run it a certain way to protect the bottom line.If the seller will not conform I say NEXT !
Tershant Rhodes
How does Bigger Pockets Help New Investors?
8 September 2011 | 32 replies
i don't regret having taken the real estate course, because it all contributed to my foundation of real estate knowledge.then i took some classes and workshops, and after about the 5th one, i decided enough classes--now i have to formulate my action.all along for the past year or more, i have often driven to a great reia association that's about 3.5 hours away. i, too, live in a rural area, so i don't have the luxury or convenience of a local reia.for me, i think its all about balancing, and finding the pieces that work for you.
Michael Mcguniess
Placing laminate flooring in rentals
13 December 2018 | 33 replies
Strictly based on my experience, go with luxury vinyl flooring.
Michael Quarles
FREE. 2 tickets to Biggerpockets REI Summit
30 December 2011 | 37 replies
If anyone has any suggestions on how to increase response I would love to hear.From the sounds of the one entry so far, travel and lodging might be expenses beyond what the entrants are able to spend ...
Josh Gibbons
What do you drive?
30 January 2012 | 90 replies
We love this car great price, mileage, and has all the luxuries of a high dollar car.
Rik Manuel
Bigger Pocket Meetup in the Philadelphia/NorthEast Area
12 June 2019 | 4 replies
Meeting at the Grey Lodge Pub with a few investor at 3pm today.
Priti Donnelly
Thailand Short-Term Rentals 10.25% Yield
13 September 2023 | 62 replies
Generally speaking, short-term rental rates in Thailand are low compared to other countries with a lot of tourism, as are luxury hotel rates so how much would anyone pay to rent one of these minuscule shoebox condos, which they're building by the boatload it seems?
James Halk
We own home in Lakeview New Olreans, renting while relocating to Houston
23 February 2015 | 7 replies
When she's looking at rentals, it's always the luxury apartment complexes.
Michael Warinner
I dropped out of college last week.
29 January 2019 | 205 replies
I have a six-figure full-time job that I LOVE — and — I am a real estate investor... and because I am not *dependent* on the rent to make my payments every month, I have the luxury of waiting for quality renters instead of hurrying to get someone in there so the rent keeps coming.
Gulliver R.
Gravel roads in MHPs
19 July 2017 | 5 replies
Here is the park snapshot.The concrete road is luxury :).