Had a a situation while networking with a RE broker (one of the top guys down here..very efficient, a bulldog!) the other day. I had explained that i had several established contacts at banks across the country and many in S Florida(mitigation, special assets dept, etc..). let him know that I was pretty efficient with making these contacts/relationships and was trying to find a happy medium on pricing expectations between buyer and seller. Since i was focusing on wholesaling these deals he told me that I should get my RE lic and get REO listings instead (which btw, had been offered to me before directly from banks in the process of looking for pools of Non Perf. Notes and REO's).I know BPO's are usually the route most agents will take in the hopes of landing that listing but that's obviously not the only way. Anyway, I think there is a huge niche here for me
So I was just curious as to what i could expect in the form commission.
email me your contact info
Al, if you have something to contribute to the discussion, please post here.
Seems Al is an agent, and maybe he is just trying to negotiate in private for leads ...
Ffound the answer after a few phone calls... anywhere between 25% and 50% of broker commission. It really depends on what you can work out for yourself.
You can negotiate your split with the broker, even if not working with REOs. But if you can produce the numbers, the broker should be willing to let you get a better split.
Thank you Mark.