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How Investors Can Deal With A Real Estate Agency
Real estate investors are seen as hassles by a real estate agency. A
real estate agency prefers to do business with owner-occupant home buyers
who have a down payment saved up, have good credit, and can easily qualify
for a conventional mortgage. The goal is to make a profit as quickly and
painlessly as possible. Part of the problem is that real estate agency
agents rarely, if ever, work with creative financing deals that investors
need. A real estate agencys sales force is usually just that – a group of
people who excel in sales but not much else. However, the real estate
agency is the only place to access the Multiple Listing Service (MLS) and
the real estate investor should find ways of being able to work with
For a real estate agency to take you seriously as an
investor, you should offer a reasonable amount of earnest money. Many
investors are accustomed to putting as little to no money down as
possible, but a real estate agency will not give you a second look for $50
down. Somewhere around the $500 range should get their attention.
You can also get an agent to take you seriously if you offer a
fast closing. The thought of getting a commission check in 2 weeks instead
of 2 months will make them work that much harder to close the deal.
Usually, an agent will advise the home seller to accept an offer with a
higher amount of earnest money and faster closing over an offer for a
higher selling price.
If you have a creative offer, see if the
agent will allow you to present it directly to the seller. You might have
to fight a little bit to make it happen. A creative offer that you dreamed
up wont get the same treatment from an agent. The agent will infuse his
or her own bias when presenting your offer. You want the seller to hear
the offer directly from you, as no one else can accurately and
enthusiastically present your offer. It will also allow the seller to ask
any questions directly to you, instead of going through the agent as a
middleman. There is too much that can be lost in the translation and can
adversely affect any potential deals.
In dealing with agents as an
investor, youll undoubtedly encounter one who is uncooperative. Many
agents dont want to work with investors simply because itll require more
work than just writing up a contract and handing you the keys. Dont be
afraid to confront an uncooperative agent, especially if they are
unethical. They might lie and tell you an offer was rejected when it was
never presented to the seller in the first place. If you find out about
it, go over the agents head and consult with the broker. If you cant get
any help from the broker, go ahead and work with the seller directly.
Real Estate News and Events
- Media by-law on real estate marketing to be issued soon
DUBAI â€” A media by-law, which will govern
how real estate developers market and advertise their developments, will
be issued in about two weeks, the CEO of the Real Estate Regulatory
Agency (RERA), Marwan Bin Ghalita said yesterday. He was speaking at the
launch of RERA's new logo.
- PRESS: Austria's Raiffeisenbank to buy majority stake in
Czech realestate agency Lexxus (Interfax)
17. INTERFAX CENTRAL EUROPE - Austria's Raiffeisenbank will acquire a
majority stake in Lexxus, one of the Czech Republic's largest real
estate agencies, to help the agency expand into foreign markets, Czech
daily Hospodarske noviny (HN) reported Wednesday.
- Real estate agent tore out rivals' ads (News Interactive)
A NEW South Wales real estate agent will have to perform
community service after leading a "cell" of fellow agents in preventing
the advertising of rivals' cheaper fees.
- Media by-law on real estate marketing to be issued soon -
Media by-law on real estate marketing to be
issued soon - UAE
- Real Estate Notes (The Cincinnati Enquirer)
Thursday | Real Estate Investor Association of Greater
Cincinnati Membership Meeting: 6-9 p.m., Hamilton County Community
Action Agency, 1740 Langdon Farm Road, Evanston. Free.
- Global real estate giant showcases latest realty projects at
Cityscape 2007 (Gowealthy)
Emaar Properties, one of the
world's largest real estate companies and global provider of premier
lifestyles, will highlight its new global growth model that focuses on
geographic expansion and business diversification at Cityscape 2007, the
region's largest property investment and development exhibition.
- France's Attali commission criticizes real estate
transaction costs (Sharewatch)
PARIS (Thomson Financial) - A
commission set up by President Nicolas Sarkozy to identify obstacles to
economic growth in France has questioned the level of tariffs applied by
real estate agencies.
- Real Estate Investment and Mass Media Marketing Specialist
1-800-SELL-NOW Retains NewsMark Public Relations as Wave of ...
BOCA RATON, Fla., Oct. 15 /PRNewswire/
-- Real Estate Investment Specialist 1-800-Sell-Now today announced it
has retained NewsMark Public Relations to guide its national media
outreach strategy to investors and homeowners as record foreclosures and
the worst housing decline in 16 years present opportunities for a new
breed of investors.
- Teles Properties Launches New Real Estate Brokerage Model in
Los Angeles (Business Wire via Yahoo! Finance)
ANGELES----In a market where many real estate companies are downsizing
or even closing their doors, Teles Properties announces the launch of a
bold, new real estate company designed to provide both exceptional
agents and exceptional customers with unparalleled services.
- Winter Park ad agency branches out (BizJournals)
WINTER PARK -- A longtime Winter Park advertising agency
that specializes in catering to real estate clients now wants to grow
its business by wooing hospitality industry