Hi,
I’m looking for real estate agents who can do business for investors. I am interested in residential single and multi-family properties and mainly will keep as rentals.
I would really appreciate if there’s anyone can help or can make a referral to an investor friendly agent. Birddogs are welcome.
Best Regards,
Tracey
Howdy Tracey:
You may call Carmon Amaya at 260-2796. She is a close friend and partner in one of my deals. She is new here from Virginia but she is a go getter and an investor as well.
Thank you, Ted. I have contacted her and hope we can do something together.
Is your “Paying 36% interest on 2nd Commercial loans $5000 minimum” for real?
Real estate agents are abused professionals. They get circumvented on their commission, there fees are negotiated down at settlement; buyers waste their time looking at properties only to purchase one from someone else. Sellers go around them to avoid commission.
It is no wonder these folks are insecure. Real estate agents are targets for most sellers and buyers.
The care and training of real estate agents by investors takes time and trust. As investors, we need to give agents a reason to do business with us. We want to train these agents to locate and make offers on non-listed properties. If trained properly, agents can be your best resource of wholesale real estate. Agents can become an “Auto Pilot” factor for your investor program.
I have to agreements I use to encourage agents to work with me, one is the Non-Circumvent agreement and the other is a Fiduciary’s Consultant Agreement. I developed these agreements over the years of trial & error (really, "Trial & Terror)
Here is a Non-Circumvent Agreement I use with real estate agents. It helps to give the agent a sense of security and protection.
Wishing you good luck and good investing…Charles Parrish
NON-CIRCUMVENT AGREEMENT
Non-Circumvention, Non-Disclosure and Confidentiality Agreement
THIS AGREEMENT entered into on this _______ day of ________, 2005 is for the Professional Association and arrangement of Non-Circumvention, Non-Disclosure and Confidentiality between
Charles D. Parrish, known as “Buyer”, whose office is at 6721 Harford Road, Baltimore, Maryland 21234,
And ________________________________________________________________ known as “Consultant”.
whose principal place of business is at _______________________
hereinafter called “The Parties”.
The Parties agree to respect the integrity and tangible value of this agreement between them.
THIS AGREEMENT is a perpetuating guarantee for six (6) months from the date of execution and is to be applied to any and all transactions present and future, of the introducing party, including subsequent follow-up, repeat, extended, renegotiated, and new transactions regardless of the success of the project.
Because of THIS AGREEMENT, the Parties involved in this transaction may learn from one another, or from principals, the names and telephone numbers of investors, borrowers, lenders, agents, brokers, banks, lending corporations, individuals and/or trusts, or buyers and sellers hereinafter called contacts. The Parties with this acknowledge, accept and agree that the identities of the contacts will be recognized by the other Party as exclusive and valuable contacts of the introducing Party and will remain so for the duration of this agreement.
The Parties agree to keep confidential the names of any contacts introduced or revealed to the other party, and that their firm, company, associates, corporations, joint ventures, partnerships, divisions, subsidiaries, employees, agents, heirs, assigns, designees, or consultants will not contact, deal with, negotiate or participate in any transactions with any of the contacts without first entering a written agreement with the Party who provided such contact unless that Party gives prior written permission.
Such confidentiality will include any names, addresses, telephone, telex, facsimile numbers, and/or other pertinent information disclosed or revealed to either Party.
The Parties agree not to disclose, reveal or make use of any information during discussion or observation regarding methods, concepts, ideas, products/ services, or proposed new products or services, nor to do business with any of the revealed contacts without the written consent of the introducing party or parties.
The Parties agree that due to the many variables surrounding each Business/Financial Transaction that will occur because of this agreement, the commission to be paid and/or the fee structure between the Parties can vary. A separate fee/commission agreement will outline compensation for each Business/Financial Transaction. The fee or commission agreement must be drafted and acknowledged by signature before all Business/Financial Transactions.
In case of circumvention, the Parties agree and guarantee that they will pay a legal monetary penalty that is equal to the commission or fee the circumvented Party should have realized in such transactions, by the person(s) engaged in the circumvention for each occurrence. If either party commences legal proceedings to interpret or enforce the terms of THIS AGREEMENT, the prevailing Party will be entitled to recover court costs and reasonable attorney fees.
The Parties will construe THIS AGREEMENT in accordance with the laws of the Sate of where the property is located. If any provision of this agreement is found to be void by any court of competent jurisdiction, the remaining provisions will remain in force and effect.
THIS AGREEMENT contains the entire understanding between the Parties and any waiver, amendment or modification to THIS AGREEMENT will be subject to the above conditions and must be attached hereto.
Upon execution of THIS AGREEMENT by signature below, the Parties agree that any individual, firm, company, associates, corporations, joint ventures partnerships, divisions, subsidiaries, employees, agents, heirs, assigns, designees or consultants of which the assignee is an agent, officer, heir, successor, assign or designee is bound by the terms of THIS AGREEMENT.
A facsimile copy of this Non-Circumvention, Non-Disclosure and Confidentiality Agreement shall constitute a legal and binding instrument. By setting forth my hand below, I warrant that I have complete authority to enter into THIS AGREEEMENT.
FINDERS/CONSULTANT FEE: As negotiated per property offered at the time of the disclosure
Investors Requirement
Any type of real estate or business opportunity with real estate that would yield a small short term profit: commercial, apartments, land, lots, sub-division, farms, land with potential re-zoning upgrade, water, lake, stream or pond fronts, and non-conforming properties.
For:
Consultant
Address
City/State
Telephone
Charles Parrish/Buyer
Thank you, Charles. You have a point.
What about if you work with more than one agent, would you sign the Non-Circumvent Agreement and the Fiduciary’s Consultant Agreement with each of them? If yes, do the agents who work with you having a sense of security and protection, especially when they are in the same geographical area?
If you don’t mind, I am also interested to see what your Fiduciary’s Consultant Agreement looks like.
Thanks and happy investing,
Tracey
No problem, having more than one agent represent you. You should put the odds in your favor, get 3 or 4. When you are satisfied with one or two, discontinue the agreement with the slow ones. If the second agent brings the same transaction, inform him that you are already looking at that with someone else.
Get those boys and girls out in the field digging up juicy deals for you. Learn how to make "Trial Offers’, and make them all the time, no need to look at the property. Make the offer, than look at the property, at that time you will go into what I call “second stage” negotiations.
Good luck…Charles Parrish
I sent you an email recommending you choose a agent with experience in the area. Buying real estate for profit has it’s tricks of the trade and it doesn’t hurt you to have more than one rep. If an agent is used to working with investors, they understand that whoever brings the deal is who you will work with. I also recommended some local investment clubs, online groups, and a really good mortgage broker who has been investing for 20 years.
On trial offers, I’d be careful about doing this in hot areas. There’s no reason for sellers to negotiate on hot deals, so know numbers before you make an offer. There will be negotiation once you’re in the option, but the seller often cannot or will not move more than maybe 5%. Again, it all depends on the deal.
On a different note, I’ve noticed something about investors in Austin. There are a handful who forget that these home sellers are people who are hoping to sell their home so they can move on. They’re often in a horrible situation and they’re looking for help. The best investors treat them with respect and don’t play games.
Agents talk to each other about investors who do things like the “trial offer” and will often warn their sellers about this person’s reputation when presenting a deal. After a while, agents will remember you, so you need to develop a positive relationship when putting deals on the table.
What is wrong with a “Trial Offer”? Your suggestion as a real estate agent is to make a full offer? I don’t think so. So WHAT, if agents talk to each other. If they knew anything about making money in real estate as an investor, they wouldn’t be real estate agents.
Making Trial Offers, make good investing sense. Real estate agents are a very small segment of real estate investing.
I must be missing something about your comments about trial offers.
Good luck…CharlesParrish.com
“If they knew anything about making money in real estate as an investor, they wouldn’t be real estate agents.”
Here we go again!
It’s been quite sometime since I posted here.
I initially began by contributing & quickly found myself defending the real estate profession.
This is not the site to be looking for real estate agents–too many offensive posts quickly chase them away.
FTR: There’s a number of millionaire Agent/Investors in our office. Our last roundtable discussion (Agents Investments) was taught by an Agent who’s worth 14 mil.
FTR: Paying asking price for a property is dependent upon it’s value. Ever consider the fact that agents (especially newbie agents) might underprice a property? We paid full price for our last investment which has made us roughly $5,000 a month.
It’s also dependent upon the market. If you’re making underpriced offers in a hot market…you could be wasting everybody’s valuable time.
We’re currently in what’s been traditionally the slow time of the year for real estate sales (Oct-Jan). If rates don’t get too high…things will start to pop again Feb…and March has been the hottest month over the last five years.
We’re seeing dwindling supply & high demand in the Pacific Northwest. That’s a ‘hot market’ recipe, and if rates stay reasonable low…we’ll be right back to multiple offers by next spring.
By-the-way…you’d have a hard time getting knowledgeable agents to sign your contract. Doubt many Brokers or their legal firms would allow their agents to sign it.
You are missing something. I’m not just speaking as an agent. I’m speaking from an investor point of view because I started as an investor and only work with sellers and investors.
Of course we negotiate while we’re in the option period, but beginning investors often don’t understand the value of a property and simply put an offer on the table before really running the numbers. I’ve seen some investors play games by throwing an offer on the table at full price knowing that they’re not going to pay that much for the property. Their goal is win-lose…to lock the owner into a contract and then beat them down by coming back with a lot of contingencies and concessions.
You can play games if you want, but the win-win investors have clients who keep coming back. I’m not saying the trial is completely unacceptable, but you can lose a good deal in a HOT area by playing games.
Notice I also didn’t say you’re paying full price. You always pay what makes sense. I’m just pointing out my opinion on the “trial offer” game because I’ve seen it really upset sellers and their agents. The biggest investors in our city became successful because they solved problems and made connections. If you’re running a win-lose game, your reputation will suffer over the long run. You may make money, but perhaps not as much as if you had “raving fans” because you ran a cleaner game.