Hello,
I have a property under contract at 10500 I have had interest by a few investors. I have listed it for 112,250 so I can assign this contract for 7500. I now was just approached by a realtor who has investors interested in a 2 week closing paying all cash. He doesnt understand my role in the transaction and wonders how he will get paid if he brings buyers. Should I sign him to a finders fee agreement of 3percent? How should I structure this deal to close and pay him?
Best Regards
You can either sign a paper that says you will pay him 3% if he brings any buyer and it closes, or you can give him a one party listing, for 3%, for his specific named client.
thank you so much for your reply. what does that agreement look like or where can i get one? again thanks for your help!
The agent will have the paperwork for a one party listing.
The other: you take out a sheet of binder paper and write
I, (your name), agree to pay to (his name), a 3% courtesy fee for the sale of the property located at (address) if that property sells to any buyer provided by (his name). The courtesy fee will be paid at close of escrow.
Then you both sign it, date it, take a couple of xerox copies so you each have a a copy and an extra to go into escrow with the purchase contract.
OK, I’m joking. Have your lawyer give you legal advice, not strangers on the internet. I’m not a lawyer. My point is, don’t make such a big deal about it. Agreeing to pay someone money isn’t usually all that complicated.