Making an offer

I know the owner's hands are tied as far as making a deal, but I am a ruthless :mrgreen: investor who doesn't have to follow the standard way of doing things right?
Or, am I way off base.

Edited: 06/26/2010 at 07:45AM

Michael Rossi

Real Estate Investor · Ohio

4587 posts
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Icon_minipost Mar 28 '09, 09:35 PM

You're way off base. If the seller has an agent, call the agent.

Edited: 06/26/2010 at 07:46AM

Melissa Webb

Real Estate Investor · Redding, California

88 posts
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Icon_minipost Mar 29 '09, 12:17 AM

I have a Q for you Mike, what happens if the owner contacts you? If you don't wan't to pay realtor fees, can you tell them to keep their contract with the Realtor, if they get another offer take it, otherwise when the contract runs out call back?

Edited: 06/26/2010 at 07:46AM

Michael Rossi

Real Estate Investor · Ohio

4587 posts
14256 Influence
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Icon_minipost Mar 29 '09, 12:27 AM

Yes, you can tell them that. However, if the deal is good, why would you want to cut the realtor out of his/her fees? All I care about is that I make money! If a realtor can make some money too, that's great!

Mike

Edited: 06/26/2010 at 07:46AM

Melissa Webb

Real Estate Investor · Redding, California

88 posts
53 Influence
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Icon_minipost Mar 29 '09, 01:17 AM

I completely agree, Mike. I'm just talking about the deals that are fair, not great. These are the deals that I wouldn't bother me if they worked or not. However, if it is a great deal, give the realtor their comission. They are obviously doing their work, so pay them.

Edited: 06/26/2010 at 07:46AM

Richard Warren

Real Estate Investor · Las Vegas, Nevada

1825 posts
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Icon_minipost Mar 29 '09, 01:24 AM

One thing to keep in mind is that the listing agreement between the agent and the seller is a contract. If a buyer goes around the agent and talks directly to the seller to strike a deal the agent will still get paid unless the listing has expired.

:cool:

Edited: 06/26/2010 at 07:46AM

NC Mark

Real Estate Investor · North Carolina

1086 posts
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Icon_minipost Mar 29 '09, 09:19 AM

Another factor to consider might be your 'reputation' and how it could affect your future business.

I have one broker who gives me a heads-up on every listing in my farm areas before they hit the MLS. I have another broker who gives me the lock box codes to all his foreclosures.

The word is spelled T-R-U-S-T.

If your definition of "ruthless" means screwing people the word will get out.

Edited: 06/26/2010 at 07:46AM

Hermann L.

Real Estate Investor · Castle Rock, Colorado

13 posts
1 Award

Icon_minipost Mar 29 '09, 11:21 AM

Originally posted by Steve Ventola

What happens if I go around a real estate agent and contact an owner directly to make an offer?

I know the owner's hands are tied as far as making a deal, but I am a ruthless :mrgreen: investor who doesn't have to follow the standard way of doing things right?
Or, am I way off base.

Steve
What goes around comes around.

Edited: 06/26/2010 at 07:46AM

Steve V.

Real Estate Investor · Knoxville, Tennessee

6 posts

Icon_minipost Mar 30 '09, 03:10 AM

Thanks for the feedback. After reading all your posts it's pretty obvious I wasn't thinking that one through all the way. I guess I got a lot to learn about this business. Y'all have been very helpful.

Edited: 06/26/2010 at 07:46AM

Rich Schroeder

Real Estate Investor · Wisconsin

451 posts
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Icon_minipost Mar 30 '09, 04:18 AM

Another way to think about this is...in these times it's tough to get a homeowner to be realistic on their selling number. A realtor might help bring them back down to earth. That could work to your favor. For example if you put in a low offer, the agent might tell the owner "hey, that's not a bad offer in this market". Agents are hurting, too (in a lot of markets). They want the sale about as much as you do.

-Rich

Edited: 06/26/2010 at 07:46AM

Melissa Webb

Real Estate Investor · Redding, California

88 posts
53 Influence
1 Award

Icon_minipost Mar 30 '09, 04:22 AM

Originally posted by rich23s

Another way to think about this is...in these times it's tough to get a homeowner to be realistic on their selling number. A realtor might help bring them back down to earth. That could work to your favor. For example if you put in a low offer, the agent might tell the owner "hey, that's not a bad offer in this market". Agents are hurting, too (in a lot of markets). They want the sale about as much as you do.

Very good point Rich.

Edited: 06/26/2010 at 07:46AM

Herb Daly jr

Real Estate Investor · hull, Massachusetts

11 posts
10 Influence

Icon_minipost Apr 02 '09, 06:47 AM

The agent has an obligaton to present all offers to the seller. If you make a low offer the agent says oh they will not accept that, how do you know that? The agent could be just saying that to get a higher offer. You always want to go thru the agent, but if they are not reasonable in the past I have knocked on the seller's door and told them directly their agent refused to present my offer. Some sellers will tell you they gave their agent a number not to go below, others have got a little upset and wanted to know why the offer wasn't presented. Most agents worth their salt will work with you.

Edited: 06/26/2010 at 07:49AM