Good evening BP! So just now I found 3 properties for sale by the same Seller on the MLS. I'm trying to reach out to the sellers agent to find out more information. But once I do, is there some way I could try to snag up all 3 properties? Seems likes he's letting everything go, maybe I could help him out.. But its listed on the MLS with a agent, I feel like it'd be hard to get him to deal solo with me. FYI I'm a new agent in the area, so maybe I should do something. My concern is that I'm not sure what to do.. Also I wouldn't be able to finance all 3 properties, maybe just one of them. Any advice?!!
good evening @Carlos Rodrigues
Do any of these houses fit your criteria for your investment strategy? if all of them do, find out how motivated is the seller and why they're selling?
If the numbers work, and the houses are free and clear, maybe the seller might be interested in financing? You could offer a solution for all 3 houses instead of the seller dealing with 3 different buyers.
In regards to financing, maybe you can bring in another investor, and/or a partner with cash to finance them.
And since you're an agent, maybe you can reduce your commission to make it more attractive for them to deal with you.
My advice is do not try to contact seller because it a violation of your realtor association. If you are able and willing to make an offer on a property then you would be helping the seller
Contact the listing agent for further information or wait til the listing or listings become expired on the mls to try to make contact with the seller.Consult your broker for further instruction .It is best to not speculate on a buyer reason for selling a property you don not know if he has 3 or 300 properties You are an agent now research and comp the listings and market them to potential buyers
Yes these properties are all the same multi family properties. In fact they're all a few blocks from each other, build in the same year and look identical. And I know I'm a agent now, but as long as I disclose myself I believe I should be fine. But I'll contact my broker and find out. Now @Chris T. Seller Finance, would I be able to do this, even if he put the properties for sale on the MLS? I also don't mind not taking a commission which would save him thosands. I'm just not sure how I can finance such deal...
Sounds like you could get a good deal. I have been looking at the same thing in my area where a seller also has 3. You could make an offer based on buying all 3 and get a discount.
But truthfully I don't have the funds for all 3. I can only finance 1 of them but taking all of them would be sweet! Also I just found out he has 4 properties for sale. They're all about $250K each which I can only get a loan for $250k.. Any ideas here?
As steve stated can't go direct that's a violation.. you should have learned these things when you studied for your exam...
if your in a stable market I suspect the seller will want to be cashed out Most do... buy one then save money and buy someone elses prop.. deals are like street cars one on every corner
@Carlos Rodrigues , I'm pretty sure it's a violation, but even if it isn't, you will rapidly gain a reputation for crossing a sign - which is a big fat giant NO in the eyes of all real estate agents.
Whatever minor gain you get from buying behind the agent's back, will be lost in reputation.
Don't do it.
Contact the listing agent and see if you can reach some sort of deal through them.
If you have your license, and try to go around their agent, you have a very high likelihood of losing your license or being fined by your states real estate commission. Article 16 of the NAR code of ethics addresses this issue. The code and standards of practice are adopted into law in most states.
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