I need a realtor in Maryland who can list properties for me. I have these properties under purchase contract between the seller and myself however I have not actually taken ownership. I will be needing to arrange for an end buyer PRIOR to me closing on them.
Many realtors I have spoken with tell me that their brokerage is unable to allow them to do it this way even though it is legal.
Where would I find a realtor in Maryland who wants to sell houses?
Hi,
Moveright so far your moving wrong!
I gather from your posting you have more than one property under contract, I hope you have the ability to close without a buyer or don’t have to much earnest money to lose?
Real estate agents work under a broker, so what the brokers say goes because an agent does not want to lose there license doing something the broker will not allow! Now have you checked on your state laws there in Maryland, what you propose may be legal to do; but may be prohibited under the maryland real estate commission rules and regulations!
As an investor I build my buyers list, most of us who manage to pull off finding a buyer in a week or two do so from a list of buyers! How many days do you think properties in Maryland are on the market for before there sold? What is average days on market for the neighborhoods the homes you contracted for are in?
How many months do you have in your contracts to find a buyer? Is this like a long term escrow?
There is no shortcut, you have to either close yourself and then find a buyer? Find a buyer quickly? Or back out of the contracts?
Virtually all investors with the exception of rehabers have built a buyers list prior to going out and finding properties so we know we have 5 buyers looking for a 4 bedroom 2.5 bath in Silver Springs, Maryland!
Good luck, but you may be stuck!
GR
Gold River, thanks for the input!
I can see that I was confusing in my post. Allow me to clarify.
I mostly understand the relationship between an agent and their broker, at least the part regarding what you are talking about. I originally contacted a top producing agent. I explained what I needed and their response was “my brokerage won’t allow me to do it that way. What you want to do is not illegal, it’s just uncommon. I suggest you get in touch with a small brokerage because they are more likely to have less restrictions and be able to accommodate you”. So, in reference to your response, I’m fairly certain there are no legal problems or issues relating to rules and regulations. (unless you are aware and the agent I spoke to was mistaken in which case I’d greatly appreciate being filled in)
In terms of a buyers list, my end buyers are the homeowners themselves, and because I don’t have any idea who the buyer may end up being at the time I am entering contract on a house. That’s my purpose for hiring an agent to sell the properties, that way I know they are being marketed to the appropriate people in a timely fashion.
hope that makes sense.
Hi,
Start building a buyers list right now, it will be an ever evolving list as someone interested in buying a home today will be a home owner in 3 to 6 months!
Use every avenue you can to start a buyers list, what I have done in the past is:
Beautiful 2 bedroom / 1 bath home on small quiet residential lot in Laurel Maryland call ???
Outstanding 3 bedroom / 2 bath home with fenced lot in great school district in Baltimore Maryland call ???
Good looking 4 bedroom / 2.5 bath home with great view lot in outstanding area in Gaithersburg Maryland call ???
Great ranch style 5 bedroom / 3.5 bath on view lot with lots of tree’s in Bethesda Maryland call ???
Big family mini mansion 6 bedroom / 4 bath on 1 acre lot with all the upgrades in Annapolis Maryland call ???
Giant home with all the upscale amenities, 7 bedroom / 6 bath on 3 acre mini ranch with small barn in Hagerstown Maryland call ???
I would keep ads like this running all the time and collect callers name, phone numbers and email address before you tell them; "Oh, Im sorry that home has sold already but I have another home I am just negotiating on, I will call you back in a week or 2 when I have it available???
Your just running a series of ads, you change the wording, change the description every week or 2 and you collect a never ending list of buyers in your market!!!
Now I recommend free ads as this can get expensive paying for them, also qualify your buyer by asking whether they already have a mortgage pre-approval or not, if they don’t refer them to your mortgage guy on your team to get a pre-approval going!
Then when someone calls your ad for 3 bedroom / 2 bath you have approximently roughly 1 to 3 weeks to potentially nail down the home there looking for, hopefully you have a couple of 3 bedroom / 2 bath callers in a week or two giving you a couple of buyers to market to when you find that home!
The more questions you ask when they call the better, as it gives a better indication of area, school district and location in a town or city!!!
Trying to depend on realtors to sell a home fast enough on a contract you have is like trying to find a needle in a hay stack???
Successful investors buy (Contract) on a property that they actually have a buyer for before they make one phone call or drive one mile, or look at one property!!!
GR
I just PMd you an investor-friendly Realtor in MD. Good luck!