Last month I had a Realtor named Raul call me about a trashed 2 story ranch house. I got it on contract for 45K and flipped it for 57K and the deal went down fast in just under 3 weeks.
Last week my bird dog Jose finds another junker in the same town. I called the seller and she said they were hoping to get 35K for it. I was wondering how much to offer & sell it for and I sent the address to Raul to see if he cud get 40K for it. He lives in a nearby town about 20 miles away.
Raul said he wanted 4%. I offered him a flat fee of 2K & told him to add his fee on top of the 40K and he never replied back.
When I drove the 60 miles to the property a few days ago I walked the house and lot and built up my rapport with Joe the owner and offered 26K. Joe said that sounded good to him but he had to check with the boss. He calls his wife and puts me on the phone. I did my best to explain the bad condition and the money it wud take to repair it & ect ect. She was tough and we settled on 32k
I pulled out the contract to get a signature and Joe says he wants to wait till he gets a price from another buyer and pulls out Raul’s colorful brochure and business card. I was shocked, I tell Joe, oh that’s my guy Raul, we just did a big deal together a few weeks ago and I’m the one that sent him over here. Then Joe said “Oh, I didn’t know he was your guy”.
Well, I may burn for telling that partial lie.
I got the deal on contract and got it sold for 40K & already started escrow yesterday.
My bird dog Jose said he wud be happy with $1,500.
Anyway, I’m not going to report Raul to the Realtors Board, but I sure wont be trusting him. I have worked with a half dozen Realtor buyers for the last few years and none of them have ever tried going around me. I thought they had some ethics and rules to follow.
I got a little bit complacent.
What would you do?