Do you think most Investors using (cash) to purchase Real Estate bypass the Real Estate agent?
I have always wondered about this question when it comes to Investors purchasing Real Estate.
Investors can hire an Attorney if they don't already have one in their firm to write up the RE contract for as little as 300 dollars. By doing this the Investor can negotiate a lower price when purchasing because the seller doesn't have to pay a commission to a RE agent.
Also Investors interested in purchasing RE can get a list of REOs from banks and make offers on properties using cash and a Attorney.
I seriously believe that most Investors using (cash) to purchase RE are hurting our industry because we are not making any money from their transactions.
Now I know there are some Investors that do use an agent, but this post is about the Investors that (don't)!
What is you opinion on this matter?
Robert Swetz (Vegas Bob) 1-14-2010
Showing posts with label commision. Show all posts
Showing posts with label commision. Show all posts
Thursday, January 14, 2010
Saturday, January 2, 2010
You wouldn't want to sell this guy's home!
You wouldn't want to sell this guy's home!
A friend of mine called me several times over the week and I was to busy to answer his phone call, he did leave a message and his message was that he wanted to purchase a home and to call him right away.
I have known this person for around 30 years now and he use to work for one of my fathers companies back in the Midwest.
I called him yesterday and this is what he told me .............
He said he wants to purchase a home in Las Vegas Nevada and wants to pay (Cash) for it, and he was talking very fast and wouldn't let me get a word in.
Then he told me that home owners are having problems selling their homes and they have been on the market for years, and he wasn't going to pay a Real Estate Agent any commission for helping him find a home. He told me the most he would pay a agent to help him would be around $1,000 dollars.
I finally was able to get some words into the conversation and mentioned to him that when he purchases a home he doesn't pay any commission, the home owner does. He said well good because Real Estate Agents don't do enough work to be payed anymore than $1,000 dollars, where did my friend come up with this figure?
And "Thank God" he didn't call me to sell his home, I would have to tell him ..........
"No Thank You"
Story by Robert Swetz (Vegas Bob) - 12-31-2009
A friend of mine called me several times over the week and I was to busy to answer his phone call, he did leave a message and his message was that he wanted to purchase a home and to call him right away.
I have known this person for around 30 years now and he use to work for one of my fathers companies back in the Midwest.
I called him yesterday and this is what he told me .............
He said he wants to purchase a home in Las Vegas Nevada and wants to pay (Cash) for it, and he was talking very fast and wouldn't let me get a word in.
Then he told me that home owners are having problems selling their homes and they have been on the market for years, and he wasn't going to pay a Real Estate Agent any commission for helping him find a home. He told me the most he would pay a agent to help him would be around $1,000 dollars.
I finally was able to get some words into the conversation and mentioned to him that when he purchases a home he doesn't pay any commission, the home owner does. He said well good because Real Estate Agents don't do enough work to be payed anymore than $1,000 dollars, where did my friend come up with this figure?
And "Thank God" he didn't call me to sell his home, I would have to tell him ..........
"No Thank You"
Story by Robert Swetz (Vegas Bob) - 12-31-2009
Subscribe to:
Posts (Atom)
