St. Paul MN · Member since 2019 · 12 posts · 2 votes
Hey BP,
I'm trying to buy my first property, and I'm going to send out a
bunch of mailers to people who own the specific type of property that
I'm looking for; who knows if that'll work, but just in case I want to
be prepared.
So I ask: if I get a call from someone interested in selling, should
or can I involve my real estate agent in the process, such as to help
with paperwork and closing, or should I try to line up a lawyer to help
with closing and leave my real estate agent out?
One more consideration: like I said, this is my first property, and
thus far my agent has been a tremendous help both to my learning and with
connecting me to other team members, and he has taken me to view so many
places—I would feel bad cutting him out of the purchase that I finally
make. I feel like I'd at least owe him something.
Accountant · Tulsa, OK · Member since 2018 · 312 posts · 349 votes
7y
@Byron Broughten I went through something similar last year, I was working with an agent to look at MLS listed properties, but ended up finding a deal through a mailer campaign instead. I had her do all the paperwork, etc. and then had the seller just tack her fee on top of the agreed-upon price (in other words I ended up covering her 3% commission). RE is all about networking and connections, so I'd hate to burn a bridge by trying to cut my agent out of the deal. However, when I'm looking for properties next time I will probably try and negotiate something different, like I (or the seller) will pay the 3% if I buy a property she brings me to, but will only pay a smaller flat fee for paperwork, etc. if I end up buying a property I discover myself. Hope that helps, good luck!