Questions About Agents

These are frequently asked questions from investors about agents.

There are 3 fees.

Fees

Closing Costs	Standard	About 1%.	General accepted fees are split between the buyer and seller. HOWEVER, Fannie Mae and Freedie Mack Properties require you to pay the Nevada Transfer Tax of about 1%.
Broker Fee	Specific to my services.	$250	This is what my broker charges to handle a transaction with my office. If this doesn't work for you, I can refer you to someone else.
Minimum Commisison	Specific to my services.	$2500	My minimum commission is $2500. Sellers normally pay my commission ranging from 2% - 4%. If my compensation from the seller is less than $2500, you will pay the difference. This issue always comes up on properties under $80k. If this doesn't work for you, I can refer you to someone else.

About once a month I get word of a house before it comes on the market or information about a property that is about to fall out of escrow. Don't get too excited though. The bank can still turn you down. If I get a pocket listing, you will get notified immediately as long as you are on my distribution list.

I am a buyer's agent who specializes in purchasing. I believe having my own listings would be a conflict. It's also not smart to sell anything right now so I would tell anyone interested in selling to do a a lease/option.

Every investor who I have met that purchased a bulk sale ends up with some serious dog turds among the diamonds. Then they choke on the massive quantity of rehabs & tenant placement. This is a lazy way of getting hurt. A more effective method of making money is to get one property at a time, rehab it and get a tenant... next. If you want to be lazy, fine, let me process your diamonds one at a time.

They just don't have time to answer basic questions. They really only want to speak with agents who already have a qualified buyer in their hand who is ready to make an offer. Those that do answer the phone will try to shoe horn you into their listings and won't show you competitive properties.

They just don't have time OR the property is in such poor condition that they don't want to show these. Generally, if a property only has one photograph, you can expect it to be in either E or F condition.

Your offer was one of 20 submitted to the bank. They really only have time to deal with the top offer or the backup offer. If you are at the bottom of the pile, they won't even give us a courtesy email.

I truly feel sorry for these folks. They make very little money, have to drop everything to kiss the bank, attempt to return hundreds of emails/phone calls each day from other agents.... You couldn't pay me to be a REPO listing agent.

Investors have the same philosophies I do. They respect my time, return my emails and are focused on making money. We speak the same language. Investors are often so happy with my hunting processes that they hire me to get them tenants or to do a lease/option. My investors become customers for a long time.

Like most states, agents are compensated by the seller. I don't have any allegiance to any particular bank or agency so I will show you everything that is available. If a property is less than $80k, there is a good chance that my commission will fall below the $2,500k threshold. These cheaper properties are too much work for the return so you will have to make up the difference. This difference is usually less than $1k. If it makes you feel any better, most agents won't show you properties under $50k.

I show you everything available regardless of my compensation. HOWEVER, if my compensation is less than $2k, YOU WILL PAY THE DIFFERENCE.