Happy New Year Everyone!! I am working primarily on short sales with some wholesaling. I am trying to find a realtor that I can work with that can run comps for me when I need them or argue with the BPO estimate, etc. In return, I will be happy to forward anyone I can for a listing or let that person list any properties that I try to sell on the market. What kind of agreement do you have with the realtor that you work with? Do you pay them for comps? Or do they a tiny bit of any deal you make? I don’t know how to approach a realtor to work out an agreement? Help please??
Where are you located? What state and city?
Sorry (I’m new, too…) Meant to ask you if the reason you need a realtor is also because your lenders are requiring the house to be listed as part of their short sale package - or just for the reasons you indicated, comps, etc.
Also, do you know if the lender will get the house listed with their own realtor if we don’t?
Thanks!
Lyn - Omaha1
Some agents may accept a fee for doing Broker Price Opinions or charge a flat fee depending on the work they’ll be helping with. I don’t enjoy doing BPOs, but would help my favorite clients if they needed one. Most short sale specialists either get their license or work very closely with an agent partner.
I have a Realtor (r) friend of mine that runs comps. Even though this person is a friend, I am constantly looking for ways to get them paid - whether it’s referrals or buying a property at a good deal that they can list for me on a flip.
It is really all about networking and reputation. If the realtors know you, they will be more than happy to help you for the hope you would send business their way. This of course assumes you move number of houses each year.
You will find new agents to be more flexible than established ones. Talk to new agents, offer to pay for their MLS yearly fees for example for exchange for some comps. New agents don’t have enough business so they will welcome any help.
The agent I worked with before I got my own license used to pull me comps and send me expired listings. In exchange, any leads I could not workout I would send to him and I got him 2 or 3 listings in couple of months and sent him $100 gift card when things were slow.
I myself would not pull comps to people I am not 100% sure they know what they are doing and/or I know well.