Sourcing distressed sellers through Realtors?

[Apurva Sanghavi]

Hey guys how do you typically structure a deal when sourcing a distressed properties through a Realtor? I'm totally open to paying their full 3-6% commission (assuming the numbers work)... but I was curious if any of you get pushback from agent worried about sending you an address to look at first, so you don't try and cut them out... I of course would never cut them out, its bad business in my opinion, but I'm curious the right way to setup a deal? Do you sign a buyers rep agreement for that 1 property each time? I'm trying to work with my local agent community to source more deals but was hoping to get some more info from anyone who's working with agents and your process for doing so? Thanks in advance!! (I'm an investor in Houston, TX)

[Mike Cumbie]

Hi @Apurva Sanghavi,

We can send you a representation agreement for a specific property (So you are not exclusive on all properties just that one). 

For instance "I agree to pay (Broker) a commission of ___% if I purchase the property listed at 123 Main street"

Then you would still work with many agents but as something comes along the pipeline that fits your needs I would just send it to you. Once we work together on a deal or two odds are slim i would waste your time or mine by filling out the form on every property.