I am in the process of interviewing brokers in Georgia and questions continue to come to me throughout the process.
1. Do any investor agents have a conflict when sending campaigns? When sending direct mail is there a requirement to advertise your brokers logo? My initial thought is no since you aren’t actually advertising a home.
2. Do you have a commission split with the broker on off market properties? Is this something I negotiate with broker? I'm confused as I don't believe the seller would be paying a commission but I feel this is a gray area as an agent. I'm certain you will pay when you sell since I'm sure you will want to maximize your reach via MLS.
I could be over thinking this.
Agency should always be disclosed even if you are buying or selling on your own. I don't pay any fees for my own deals but understand some agents do. If you purchase, make sure and put in the contract that you are a licensee. Here is what I use:
"buyer is a licensed agent, purchasing under market value, and with a profit motive."
I also like to give two options: list at one price or fast cash at a discount.
@Ramon Purifoy Great question!
You should always disclose but this is really going to depend on your local laws. I would contact your headquarters or managing broker and ask if you're in doubt. In some states... You don't have to disclose on the marketing just when you meet with them. In others you just have to have your license # and status. In some though you need your brokerage office, address, and their phone number.
I do something similar. Better safe than sorry.
Thanks gentlemen for clearing up some confusion.
Hey @Ryan Dossey , what is the rule here? I called Mibor and the gal I spoke with indicated that I did not need to include my brokerage info. on my direct mail pieces, but I was surprised to hear that. Is that true?
@Rob LaRovere I would contact your managing broker and make sure they're fine with that.
On ours we include my license #. I've had one or two agents get SUPER mad that we were able to diffuse.
Thanks @Ryan Dossey !
Do you mind sharing why those agents were upset and how you diffused the situation?
In general a lot of retail agents get upset fairly easily. They accused us of attempting to "poach" listings. But our piece was clearly for a cash offer. We also had recorded calls where the sellers called in and my staff told them they would need to have their agent call us.
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