Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on Twitter

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Good Ideas
Nusetlock.com




REO Prep Foreclosure Listings




BPO REO Secret System




How To Advertise Here

More Good Ideas!
real estate newsletters


Real Estate Websites for Realtors




Build your brand on a Real Estate Site





Facebook
Page 2 of 2 < 1 2
Topic Options
Rate This Topic
#68145 - 02/11/07 12:24 AM Re: I have a moral dilemma
Paul Oaks Offline
Major Contributor

Registered: 06/23/04
Posts: 3370
Loc: Central Illinois
RealDealer,
As usual you have missed the target completely!
Where did you get the idea he is only making 3K on the deal????????????
Better reread the original post and try again!
He is getting $3K credited back from the Realtor. $12k would be the Total Commission.


 Quote:
Originally posted by RealDealer:
Mike, wait, hold on, stomp on the brakes right now!

 Quote:
Its just so hard to turn down 12000 dollars and take 3 grand.
If you're seriously doing "deals" where the buyer's agent makes $12k and you only make $3k, you need to throw those worthless deals away and find better ones.

If these are the deals your realtor friend is bringing you then either he's not really your friend and he's just lining his pockets while you take all the risk. Or he's simply incompetent when it comes to real estate investing.

Unless you're doing zero risk contract flips that take all of a couple of hours to complete. You should be making at the very least 2 to 3 times as much as both agents combined. For most real investments the agent's commission is a minor expense and well worth it if the agent is bringing you great deals and/or eager buyers.
_________________________
Paul Oaks
Oaks Real Estate Group

Top
#68146 - 02/11/07 08:49 AM Re: I have a moral dilemma
RealDealer Offline
Veteran Member

Registered: 10/29/04
Posts: 794
Paul, there's no mention of how much he's making in the first post. But he is obviously upset about the HUGE commission his agent is making. And again in the post I quoted, he's making a big issue about how much his agent is making "Its just so hard to turn down 12000"

My point is that the agent's commission should be almost irrelevant in traditional investing which is what he seems to be doing (buy and hold).

Top
#68147 - 02/11/07 02:06 PM Re: I have a moral dilemma
Paul Oaks Offline
Major Contributor

Registered: 06/23/04
Posts: 3370
Loc: Central Illinois
RealDealer,
You were the one that jumped to the conclusion about what the poster was making on the deal. The post was on the portion going to the agent who brought him the deal!

The whole point of this is the rat lawyer(cousin of the agent) who wants to cut out the agent that has always helped this poster in the past and has even rebated part of his commission back to the client. Too many attorneys think because they can do some of the same things as the agent they are qualified to do it which is most often not the case. I recently bought a 12 unit building and the sellers attorney was trying to kill the deal he was telling his client that the building was worth more than I was offering. I looked at the attorney and said ok if you feel this way You buy her building! I got up and walked out of the room. She can running after me while I waited for the elevator. It seems that her attorney would not put his money where his mouth was! I went back in his office and told him to confine his coments to the legality of the transaction or I would withdraw my offer and walk! The agents commission is just a cost of doing business for an investor. Maybe not for you as you dislike agent so much but many of us deal with professional agents who know what they are talking about or we are experienced agents that are also experienced investors that bring their clients good deals.
The point is a Good Investment Specialist is well worth their commission.

 Quote:
Originally posted by RealDealer:
Paul, there's no mention of how much he's making in the first post. But he is obviously upset about the HUGE commission his agent is making. And again in the post I quoted, he's making a big issue about how much his agent is making "Its just so hard to turn down 12000"

My point is that the agent's commission should be almost irrelevant in traditional investing which is what he seems to be doing (buy and hold).
_________________________
Paul Oaks
Oaks Real Estate Group

Top
#68148 - 02/11/07 02:29 PM Re: I have a moral dilemma
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 8479
Loc: georgia
Too many attorneys think because they can do some of the same things as the agent they are qualified to do it which is most often not the case. I recently bought a 12 unit building and the sellers attorney was trying to kill the deal he was telling his client that the building was worth more than I was offering. I looked at the attorney and said ok if you feel this way You buy her building! I got up and walked out of the room. She can running after me while I waited for the elevator. It seems that her attorney would not put his money where his mouth was! I went back in his office and told him to confine his coments to the legality of the transaction or I would withdraw my offer and walk!


I will have to use that one sometime,good one!

Top
#68149 - 02/11/07 02:53 PM Re: I have a moral dilemma
RealDealer Offline
Veteran Member

Registered: 10/29/04
Posts: 794
Paul, I think you need to go back and reread my comments but this time without the tainted glasses.

You're arguing with me over the same point. The agent's commission should be only a minor cost of doing business if the agent is bringing the investor great deals. The fact that he's making such a big issue over the commission suggests that the deals are crap.

Me pay commission? You keep telling me buyers don't pay commissions.

Top
#68150 - 02/12/07 12:20 AM Re: I have a moral dilemma
mikeman Offline
Junior Member

Registered: 02/07/07
Posts: 3
Wow, this got out of hand quick. My realtor is the broker himself. No middlemen. The 12k would be MY cut, not a commission. Thats IF I went through the lawyer, opposed to my cut from the realtor, at 3k.

I didnt want to get into detail about properties and what not, I know what im buying and I know Im not getting ripped off because the property will pay off. I stuck with the realtor simply because he knows better, and i'd rather get 3k back at closing, and a huge return once I sell, than to take 12k now and risk not making any money in the future on said property.

No need to get into this legal mumbo jumbo, we're not doing anything wrong, and I understand the legality of realtor/client issues as well as realtor ethics code.

Either way, thanks for all the replies, my question has been answered \:\)

Top
#68151 - 02/12/07 07:00 AM Re: I have a moral dilemma
Broker-In-NJ Offline
Member

Registered: 02/08/07
Posts: 64
Loc: Southern New Jersey
Wow, this is interesting. After, reading all the replies (including all the side issues) and now the original posters clarification, I absolutely know less about the question now than I did when it started. And you know what, I don't care. I'm moving on. I'm not beating dead horses that I don't know for sure are horses let alone dead.
_________________________
SouthernNJBroker

Top
Page 2 of 2 < 1 2






Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Good Ideas!
real estate newsletters




How To Advertise Here

Sponsors

Newest Members
JakeRoberts, JaneLee, CourtneyFields19, toorgeman123, D best Realtor
21441 Registered Users
Who's Online
4 registered (OrlandoAgent, kreid, 2 invisible), 139 Guests and 1 Spider online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Vermont 78
KingofBPOs 56
Brit16 51
DueDiligence 36
super realtor 36
Bigtoe 35
Averis 34
johnnyloans 33
SoldWithVideo 32
Kjmendy 29
RIzwan 29
75Corvette 25
Scintillion 25
Doin' bpose 24
Brad - W4BJM 22
(Views)Popular Topics
No new orders today 4758735
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 2708913
Stupid MLS comments. 959179
EML 458010
Evalonline 299690
What do you know about Froy Candelario, top agent in USA 291119
Land America 285007
New HUD Listing Brokers---Any Update? 269840
Mainstreet 261768
Pay it Forward - BPO/REO Tips & Tricks I & II 239464
Stupid QC comments and BPO requirements. 230892
Is there religious content in Buffini class? 225919
FARVV 177251
REOTRANS 160822
Let's talk about our cars 147913
USRES / RES.NET 147658
asset val seminar in colorado 144139
AVM Bpos 139643
FARVV 126764
PAS 118332
Featured Member
Registered: 02/25/05
Posts: 2232

How To Advertise Here


This site presented by RNC Internet Services